Page 5 - Yuan

China's yuan weakens as Ukraine-Russia conflict adds to market anxiety

China's yuan weakened against the dollar on Tuesday as investors rushed to safe-haven currencies amid elevated market anxiety after Putin ordered troops into breakaway regions of Eastern Ukraine.

China plans bigger tax cuts in 2022 to spur economic growth

China to unveil bigger tax and fee cuts this year and step up payments to local governments to offset their hit to revenues, Finance Minister Liu Kun said, amid efforts to support a slowing economy.

China-US monetary policy divergence aids yuan stability: Ex-regulator

'Therefore Sino-US monetary policy divergence will likely become greater,' Guan Tao, global chief economist at BOC International said

Yuan off 2-week high on weaker-than-expected fix and economic slowdown

Omicron has brought fresh challenges to China's strategy to quickly extinguish local outbreaks, and there are concerns that tough measures taken could end up hampering the economy

Yuan hits 2022 high against weaker dollar, but upside seen limited

China's yuan strengthened on Wednesday to its highest level so far this year against the dollar

China's yuan firms despite worries over first Omicron cases in some cities

In the spot market, the onshore yuan opened at 6.3740 per dollar and was changing hands at 6.3737 at midday, 33 pips firmer than the previous late session close

China Evergrande to meet with yuan bondholders to delay redemption date

The bonds in question are Hengda Real Estate Group's 4.5 billion yuan ($156.92 million) 6.98% January 2023 bond, which gives bondholders the option to sell bonds back to the issuer this weekend

China's yuan eases against US dollar, dragged by narrowing yield advantage

China's yuan eased against the dollar on its first trading day of 2022, after posting full-year gains for two straight years

Former FX official says China should avoid excess yuan appreciation

The Chinese yuan has been one of the best-performing Asian currencies this year, rising about 3% against a strengthening dollar

Dollar holds its ground ahead of inflation data, yuan steadies

The dollar held its ground on Friday as traders prepared for U.S. inflation figures later that could cement the course of interest rate rises next year, while the Chinese yuan regained its footing

Dollar firms ahead of US inflation data; PBOC clips yuan's wings

The euro, seen as vulnerable from US hikes especially if European rate rises lag behind, dropped 0.4% overnight and was under pressure in Asia at $1.1293

China's yuan firms despite weaker mid-point, but downward pressure builds

The strength comes even after the People's Bank of China set the midpoint rate at 6.3738 per dollar prior to market open.

Yuan emerging as a strong benchmark for rupee, say currency dealers

While it hasn't been officially confirmed yet if RBI is intervening in currency market in tandem with the yuan, the market itself has been adjusting based on how China treats its currency

China will advance development of digital yuan, central bank gov says

China will continue to advance the development of its central bank digital currency and improve its design, the People's Bank of China governor Yi Gang said on Tuesday

Risk-sensitive currencies perked up by upcoming Evergrande bond payment

Some of the excitement fizzled, however, after traders realised it was still not known whether the developer would be able to pay the coupon on its offshore dollar bonds, due on Thursday.

Asia markets, yuan fight to stabilise as Evergrande looms large

Asian markets were jittery in volumes thinned by public holidays in China, Taiwan and South Korea

China Telecom Corp jumps 34% in biggest listing of 2021; raises $7.3 bn

The stock ended the session at 6.11 yuan, up from an offer price of 4.53 yuan

China's digital yuan gives banks an edge in payments, says Moody's

The effort to develop a digital yuan "reflects the authorities' concerns about data concentration among technology companies", the Moody's analysts said

Central banks will accelerate rise of China's yuan, global survey shows

The Global Public Investor survey, published annually by the London-based OMFIF think tank, showed 30% of central banks plan to increase yuan holdings over the next 12-24 months

China moves to cool Yuan rally by raising FX reserve requirement

The nation's financial institutions will need to hold 7 per cent of their foreign exchange in reserve from June 15