Yuan – Page 3 – THE OVAL CIRCLE

China cheers Russia’s move away from US dollar in favor of yuan

Posted on July 18, 2021July 18, 2021By Editor

Beijing has welcomed Russia’s decision to cut the US currency from its National Wealth Fund and give the yuan a bigger role, China’s Foreign Ministry has announced. … Read More >China cheers Russia’s move away from US dollar in favor of yuan

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Chinese yuan’s share of global currency reserves hits new high

Posted on July 3, 2021July 3, 2021By Editor

The share of Chinese currency held by global central banks reached a new high of 2.45% in the first quarter of 2021, the IMF’s Currency Composition of Official Foreign Exchange Reserves (COFER) survey states. … Read More >Chinese yuan’s share of global currency reserves hits new high

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US dollar grabs bigger share in global currency reserves, but broader trend indicates shift away from greenback

Posted on July 3, 2021July 3, 2021By Editor

The share of the US dollar held by global central banks totaled 59.5% from January through March, up from 58.9% recorded in the previous quarter, according to data revealed by the International Monetary Fund (IMF). … Read More >US dollar grabs bigger share in global currency reserves, but broader trend indicates shift away from greenback

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US dollar weakens to 3yr low against Chinese yuan

Posted on June 4, 2021June 4, 2021By Editor

The US dollar has continued to depreciate, dropping to a three-year low versus the yuan on Monday as global investors look for safer assets amid China’s economic rebound from the Covid-19 pandemic. … Read More >US dollar weakens to 3yr low against Chinese yuan

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Russia slashes dollar & euro from reserves in favor of gold & yuan

Posted on May 7, 2021May 7, 2021By Editor

The Central Bank of Russia (CBR) said in its annual report that in 2020 it reduced the share of the euro, the dollar and the pound in the country’s international reserves in favor of gold, yuan and other currencies. … Read More >Russia slashes dollar & euro from reserves in favor of gold & yuan

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Yuan going global: China tests its digital currency on e-commerce platforms

Posted on March 21, 2021March 21, 2021By Editor

As part of a push to internationalize the yuan, China has been testing its digital currency on trading platforms around the world where it can be freely traded with other fiat currencies. … Read More >Yuan going global: China tests its digital currency on e-commerce platforms

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China to give away over $6mn in digital currency during Lunar New Year in massive e-yuan trials

Posted on February 9, 2021February 9, 2021By Editor

As China gets ready to celebrate one of its biggest holidays, the Lunar New Year, authorities in Beijing and Suzhou are handing out 40 million yuan ($6.2 million) in another public lottery as part of digital currency tests. … Read More >China to give away over $6mn in digital currency during Lunar New Year in massive e-yuan trials

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China partners with SWIFT to boost global use of yuan & cut reliance on US dollar

Posted on February 6, 2021February 6, 2021By Editor

The People’s Bank of China has agreed a partnership with the global interbank settlement organization SWIFT, as part of an effort to internationalize the yuan and develop a digital Chinese currency. … Read More >China partners with SWIFT to boost global use of yuan & cut reliance on US dollar

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China’s century: Yuan to dethrone US dollar as major global currency, trend forecaster tells Max Keiser

Posted on January 24, 2021January 24, 2021By Editor

China has become the only major economy left standing after the coronavirus pandemic rattled global trade and is set to strip the US of its leading positions soon, Gerald Celente, publisher of The Trends Journal, believes. … Read More >China’s century: Yuan to dethrone US dollar as major global currency, trend forecaster tells Max Keiser

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Move over dollar: Chinese yuan ends quarter with biggest gains in 12 years

Posted on October 3, 2020October 3, 2020By Editor

The Chinese currency has started drawing investor attention as a safe haven asset from volatility after its best performance in more than a decade. … Read More >Move over dollar: Chinese yuan ends quarter with biggest gains in 12 years

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