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Renminbi News

06 Dec 2017

CPEC turns into challenge for China; entire One Belt One Road project could be at stake

Criticism is rising in Pakistan against secrecy surrounding the terms of CPEC agreements. China faces perception battle as CPEC is crucial for its Belt and Road Initiative CPEC is only operational arm of BRI, and any troubles here are likely to impact other projects

05 Dec 2017

Roadblock in friendship? Pakistan 'stunned', as China stops funding for 3 CPEC projects, says report

China told Pakistan that it would okay funding only after Bejing issues new procedures Worry for Pakistani officials is that new procedures could affect other CPEC projects as well Pakistan had refused to allow trade in the renminbi at Gwadar soon after refusing funding for a dam in PoK

12 Mar 2016

IMF sees little room for dramatic depreciation of yuan

China's central bank has devalued the yuan by 0.51 percent to 6.56 percent against the dollar, the lowest since March 2011.

13 Aug 2015

China cuts yuan rate for 3rd straight day by more than 1%

China cut the reference rate for its currency for the third straight day on Thursday, authorities said, after their surprise devaluation of the yuan this week unsettled global financial markets.

12 Aug 2015

Chinese currency devaluation appears a welcome step: IMF

China's new mechanism for determining the central parity of its currency "appears a welcome step" as it should allow market forces to have a greater role in determining the exchange rate, the IMF has said.

12 Aug 2015

China devalues its currency Yuan: What will be the worldwide impact

China cut the value of the yuan against the dollar for a second consecutive day.

26 May 2015

China`s yuan currency `no longer undervalued`: IMF

China`s vast and regular trade surpluses have seen it accumulate the world`s largest foreign exchange reserves, which stood at $3.73 trillion at the end of March.

19 Apr 2015

How China is upsetting the old global economic order

With its huge new infrastructure bank and its ambitions for a globalised renminbi currency, China is leading the upending of a 70-year-old global order built on American economic power.

21 Jul 2014

Switzerland, China agree swap boosting role of yuan

The BNS statement said that the agreement was "an important step" for the renminbi business in Switzerland.

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