Business
Renminbi climbs past 7 per US dollar onshore for first time since 2023
A stronger currency makes imports cheaper, and aids China authorities’ long-term goal of internationalising the currency The renminbi…
Tag
renminbi
Business
China’s renminbi climbs to 15-month high, overcoming weak PBOC fixing
On Dec 23, onshore yuan ends at 7.0287 per US dollar, while its offshore counterpart fetches 7.0181 at 4.30pm SGT China’s renminbi climbed…
Unsorted
Singapore travellers can open, top up digital renminbi wallets under pilot scheme
The agreements come amid a greater push from China to promote cross-border RMB settlement and other financial services DBS Bank was…
Business
Chinese firms speed up US dollar selling amid optimism towards renminbi
The clients include exporters, importers and some investors in overseas financial assets Chinese banks helped clients offload overseas…
Business
China’s state banks ramp up US dollar buying to stabilise renminbi: sources
The combined actions of the lenders mark a reversal from last year’s efforts to defend the weakening renminbi [SHANGHAI/BEIJING] China’s…
Business
China raises cross-border renminbi use requirement for major banks
The sharp increase highlights Beijing’s determination to accelerate the use of the renminbi in global trade China’s central bank asked its…
Business
Goldman sees central banks buying more renminbi, won, Singapore dollars
South Korea, Singapore and China’s currencies are likely to be the biggest Asian beneficiaries as central banks look to diversify their…