SHANGHAI/BEIJING, July 25 (Reuters) – China’s major state-owned banks were seen selling U.S. dollars to buy yuan in both onshore and offshore spot markets in early Asian trade on Tuesday, three people with direct knowledge of the matter said, moves … Read More
US dollar-yuan divergence trade could spin out of control without intervention from China soon The US dollar-China yuan currency divergence trade is in full flow. Unless Beijing gets a grip on the exchange rate soon, the yuan could hit 15-year … Read More
ISLAMABAD, June 12 (Reuters) – Pakistan paid for its first government-to-government import of discounted Russian crude in Chinese currency, the South Asian country’s petroleum minister said on Monday, a significant shift in its U.S. dollar-dominated export payments policy. Discounted crude … Read More
Sasse warned of what could happen if other countries view the U.S. as ‘weak.’ News that Saudi Arabia is considering pricing oil sales to China using the Chinese yuan instead of the U.S. dollar has Sen. Ben Sasse, R-Neb., concerned … Read More
Iranian officials are reporting that Iran and China are close to signing a major deal that would expand security ties and economic ties including the banking sector. The exact terms have not yet been announced. Deal would advance both Chinese … Read More