Keywords: Yuan
The White House said the United States is prepared to provide financial support to the United Arab Emirates if the ongoing war with Iran worsens the country’s economic outlook. National Economic Council director Kevin Hassett stated that such assistance remains a contingency measure and is not......
The United Arab Emirates has warned it may begin settling oil and gas transactions in Chinese yuan if the United States does not provide a dollar liquidity backstop. The message was delivered during high-level meetings in Washington between the UAE central bank governor Khaled Mohamed Balama, US Treasury......
Indian refiners have reportedly begun settling payments for limited Iranian crude oil shipments using Chinese yuan, channeling transactions through ICICI Bank’s overseas operations, according to sources familiar with the matter. The purchases were made under a temporary United States sanctions......
China’s central bank has broadened its digital yuan programme by authorizing 12 additional banks to operate the national digital currency, the People's Bank of China (PBOC) said. This expansion raises the total number of banks able to handle the digital yuan to 22. Among the newly approved......
A Chinese academic report is calling for Beijing to scale back its massive foreign exchange reserves, including its holdings of US Treasury bonds, arguing that the rising global role of the yuan could replace many functions traditionally supported by large dollar reserves. The report, published by the......
The Chinese yuan climbed to its strongest level in 33 months against the US dollar on Monday, extending its longest winning streak in more than a decade after reports that Chinese regulators advised domestic banks to reduce exposure to US Treasury bonds. The yuan traded as high as 6.9284 per dollar......
The U.S. Treasury labeled China's yuan "largely undervalued" on Thursday and urged Beijing to let it appreciate, toughening its tone in the semiannual currency report while stopping short of naming China a currency manipulator. The assessment cites China's "extremely large and......
Asian currencies showed mixed performance on January 23 as the dollar headed for its sharpest weekly drop in months, with gains in China's yuan and Malaysia's ringgit offsetting fresh record lows for India's and Indonesia's rupees. The dollar index hovered near 98.3 and faced a roughly......
The China-led mBridge digital currency platform has processed over $55 billion in cross-border transactions, according to a fresh Atlantic Council report. This marks a 2,500-fold increase in volume since the project's 2022 launch, highlighting surging momentum for alternatives to dollar-dependent......
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