Sun, Dec 21, 2014
A A A
Welcome preal121
RSS

Commodities Briefing - Categorized | Currencies more

Trade in China currency breaks record

Posted on 20 February 2014

More companies are trading goods and services with China and pricing it in yuan instead of dollars, the Bank of China said on Wednesday. Bank President Chen Siqing said in a note that the fourth quarter of 2013 saw a 30% increase in yuan trade settlements from the second third quarter.
Although the currency remains a tightly controlled currency – pegged to the dollar – the Chinese government and many fund managers are betting on the yuan eventually becoming the new yen in Asia. According to the Bank, dollar activity in the fourth increased by just 2% while euro, pound and yen trade all declined………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 38538 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
banner
December 2014
S M T W T F S
« Nov    
 123456
78910111213
14151617181920
21222324252627
28293031