Chinese yuan gains currency in the Gulf states
China's efforts at internationalising its yuan are gaining traction in the Gulf states, where the yuan offers an alluring alternative to the US dollar, writes Ghulam Ali.
Source: eastasiaforum.org
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Ghulam Ali | East Asia Forum
Ghulam Ali is a Postdoctoral Fellow at Peking University.
Source: eastasiaforum.org
Foreign Exchange Market size to increase by USD 516.48
The Foreign Exchange Market experiences growth driven by enhanced liquidity. This rise is driven by various factors, including the Exchange Rate dynamics,...
Source: globenewswire.com
The Chinese yuan's share of global payments climbs to a record high while US dollar's share dips
China's currency hit an all-time high share of 4.61% in global payments usage, SWIFT data shows. It's nearly double last year's levels.
Source: yahoo.com
Japan financial diplomat Kanda: ASEAN+3 agree on new lending facility
TOKYO (Reuters) -Deputies of the ASEAN+3 group of nations agreed on Thursday to set up a new regional lending facility to respond to emergencies in the region amid rising uncertainty over a global economic slowdown and elevated U.S. interest rates. The establishment of the new scheme, dubbed the Rapid Financing Facility, and its specific content will be formally confirmed at their ministerial gatherings scheduled next spring and summer, Japanese top financial diplomat Masato Kanda said after the group's two-day meeting in the city of Kanazawa, northwest of Tokyo. The new facility was m...
Source: yahoo.com