Tag

Most shares in the region climbed as China kept its currency steady for a second day.

Just as his remark about the female journalist is distasteful, his comment about the devalued Chinese currency is extravagant.

Yesterday, China’s central bank set the guidance rate at 6.4010 per US dollar, weaker than the previous fix of 6.3306.

So the notion that China is evolving into a more market-oriented country is to impose a particularly American perspective on Chinese actions. Impose trade barriers if Beijing will not comply. By 1994 it was 8.62 RMB to the dollar (the lowest ever on the record).

The value of the yuan has gradually returned to market levels as the discrepancy between the central parity rate and the actual trading rate has been largely corrected after declines in the past few days, Zhang Xiaohui, assistant governor of the People’s Bank of China...

In a note published on Tuesday, after the first devaluation of 2 percent was announced, the PBoC said that monetary policy would now allow the currency to float and trade more freely, in a move towards a more market-orientated approach. France and Italy were the main...

Under the worldwide agreement reached last month, Russia, China and European Union countries will lift their sanctions on Iran as Iran accepts curbs and inspections on its nuclear program.

The central bank put the yuan’s central parity rate at 6.4010 yuan for $1.0, the China Foreign Exchange Trade System said, a drop of 1.11 percent from the previous day’s 6.3306.

China cut the reference rate for its currency for the third straight day, on Thursday after the surprise devaluation of the yuan this week unsettled global financial markets. The PBoC also “dismissed claims it intended to weaken the yuan by 10% to support exports as...

In the previous two days, the central rate – around which the yuan is allowed to trade in a band of plus or minus 2 percent – had been marked 1.9 and 1.6 percent lower, respectively.

This week’s surprise devaluation of the yuan, also known as the renminbi or people’s currency, came after the central bank said it wanted the exchange rate to reflect market forces. The spot market opened at 6.3990 per dollar and was changing hands at 6.3996 in the...

China’s move to cut the value of the yuan to 6.3306 to a US dollar from 6.2298 Tuesday signaled Beijing was moving to a more market-determined exchange rate from a de facto peg that had propped up the value of the currency for so long.

Lawmakers against it, most (but not all) of whom are Republicans, have threatened to sink the deal by passing a congressional resolution of disapproval, the Huffington Post writes. In return, sanctions against the country would be relieved.

The daily reference rate was set at 6.3975 yuan to $1.0, from 6.4010 the previous day, the China Foreign Exchange Trade System said.

China on Friday raised the reference rate for its yuan currency against the U.S. dollar by 0.05 percent, after allowing the yuan to nosedive which triggered concerns of a currency war.