Yuan – Page 4 – THE OVAL CIRCLE

China’s yuan strengthens against US dollar, could grow even stronger

Posted on September 19, 2020September 19, 2020By Editor

Buoyed by a weaker US dollar and the fast recovery of China’s economy after the coronavirus outbreak, this week the Chinese yuan (renminbi) hit its strongest level against the greenback since May 2019. … Read More >China’s yuan strengthens against US dollar, could grow even stronger

China’s yuan to become world’s third-largest reserve currency behind dollar & euro – Morgan Stanley

Posted on September 5, 2020September 5, 2020By Editor

With Beijing pushing for greater use of the yuan internationally, the Chinese currency could rise to the status of the world’s third-largest reserve currency in 10 years, according to a forecast by Morgan Stanley. … Read More >China’s yuan to become world’s third-largest reserve currency behind dollar & euro – Morgan Stanley

Venezuela Offers to Pay Companies in Yuan as Workaround to US Sanctions – Report

Posted on November 28, 2019November 28, 2019By Editor

Venezuela’s authorities and the state-run oil and gas giant, PDVSA, are considering paying to suppliers and contracts using the Chinese currency, Reuters reports, citing government officials and sources from private companies. … Read More >Venezuela Offers to Pay Companies in Yuan as Workaround to US Sanctions – Report

Business Russia

Russia mulls using yuan & euro instead of US dollar for external loans in 2020

Posted on October 19, 2019October 19, 2019By Editor

Further turning away from the greenback, Russia is eyeing the yuan and the euro as currencies for Eurobonds next year, … Read More >Russia mulls using yuan & euro instead of US dollar for external loans in 2020

Following Flushing of Dollars, Yuan-Based Assets Take Top Spot in Russia’s Massive Forex Cushion

Posted on October 6, 2019By Editor

Russia has steadily built up its foreign exchange and gold reserves in recent years, amassing a hoard of over 2,200 tonnes of bullion, and total foreign exchange reserves worth the equivalent of $529 billion as of September 1. … Read More >Following Flushing of Dollars, Yuan-Based Assets Take Top Spot in Russia’s Massive Forex Cushion