Yuan stablecoin team arrested, WeChat’s new Bitcoin prices, HK crypto rules: Asia Express On May 31, local news outlet PANewsLab reported that the developers for the offshore Chinese and Hong Kong dollar stablecoin issuer CNHC had allegedly lost contact or had been taken away by law enforcement officials. A photo shows what appears to be...
Fri 26-05-2023 08:39 AM BEIJING, 26th May, 2023 (WAM) — The central parity rate of the Chinese currency renminbi, or the yuan, weakened 231 pips to 7.0760 against the US dollar Friday, the China Foreign Exchange Trade System said. According to the state news agency (Xinhua), in China’s spot foreign exchange market, the yuan is...
Wed 24-05-2023 08:15 AM BEIJING, 24th May, 2023 (WAM) — The central parity rate of the Chinese currency renminbi, or the yuan, weakened 234 pips to 7.0560 against the US dollar Wednesday, state news agency (Xinhua) reported. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from...
Mon 22-05-2023 08:37 AM BEIJING, 22nd May, 2023 (WAM) — The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 199 pips to 7.0157 against the US dollar Monday, state news agency (Xinhua) quoted the China Foreign Exchange Trade System as saying. In China’s spot foreign exchange market, the yuan is allowed...
© Reuters. Investing.com– China’s fell below the key 7 level on Wednesday, with the coming within spitting distance of the level as a string of weak economic readings cast doubts over a recovery in the country this year. The offshore yuan fell 0.1% to 7.0030 against the dollar, breaching the level for the first time...
Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue, Bolivia mulls using the Chinese yuan in international trade settlements, inflation reaches 108.8% in Argentina, and Steve Hanke states he can eliminate Venezuela’s inflation in 30 days. Bolivia Mulls Using...
Fri 12-05-2023 08:39 AM BEIJING, 12th May, 2023 (WAM) — The central parity rate of the Chinese currency renminbi, or the yuan, weakened 380 pips to 6.9481 against the US dollar on Friday, according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the yuan is allowed to rise or fall...
Wed 10-05-2023 09:15 AM BEIJING, 10th May, 2023 (WAM) — The central parity rate of the Chinese currency renminbi, or the yuan, weakened 44 pips to 6.9299 against the US dollar Wednesday, according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by...
Personal finance expert and best-selling author Dave Ramsey has dismissed de-dollarization concerns and the prospects of a BRICS currency, the Chinese yuan, or the Russian ruble displacing the U.S. dollar in international trade. “They don’t have the muscle to take down the dollar,” he stressed. Dave Ramsey on De-Dollarization and Challenges From Alternative Currencies Personal...
Bank of America has warned that the key threats to the U.S. dollar’s dominance are largely domestic, as opposed to competition from other currencies, including a BRICS currency. “U.S. fiscal brinkmanship, with risks for government shutdown, or even worse a default, keeps coming up during debt ceiling discussions,” the bank’s analysts stressed. Bank of America...