International Currency

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Mr Yam says the renminbi is conditionally developed into a third international currency

Xinhua Beijing, December 18, according to Hong Kong media reports, the former chief executive of the Hong Kong Monetary Authority, Mr Joseph Yam, said the renminbi conditionally developed into the United States dollar and the euro outside the third international currency, and Hong Kong is the renminbi to develop the best Test venue for the offshore market.  Speaking at a financial forum in Beijing, Mr Yam said the international monetary system has been dominated by the dollar and the euro, but the two currencies have become less healthy after the financial tsunami, and he thinks the world needs a third international currency, assuming that the renminbi can play that role because of his confidence in China's economic size and macroeconomic policies. Mr Yam also said that the renminbi ...

Gold in China's foreign exchange reserves is only 1.5%

Huang Zemin, a member of the CPPCC, said yesterday that the country holds an international reserve that is not as good as the gaochenwu of international reserves.  China's foreign exchange reserves of gold accounted for only 1.5%, should greatly increase the proportion of gold. Huang Zemin that the purpose of a country's international reserves is to prevent the balance of payments deficit and the inadequacy of external means of settlement. Specifically, in order to meet the demand of import and the demand of monetary external liabilities, there is also a need to stabilize the exchange rate for non-international currency countries. However, the holding of international reserves has the opportunity cost, also exist ...

Renminbi hits new highs against dollar

(reporter Gaochenwu) the latest data from China's foreign exchange trading center shows that January 25 the renminbi against the U.S. dollar exchange rate of 6.5881, compared to the previous session of 6.5883 appreciation of two basis points, again to create new highs since the exchange. Societe Generale, senior economist Lu County, said that in the international currency market against the backdrop of weak dollar, the renminbi to the U.S. dollar exchange rate again rewrite new record. But the renminbi's rise is narrowing, which could herald a consolidation after a sustained strengthening of the renminbi, "after all, the renminbi will not be able to raise the value of the year in one months."

Three years lending € 80 billion euro EU out of hand to rescue Greece

Wen/yang (ph. D., Department of Finance and Accounting, British Imperial University, UK) April 27--International standards and Poole downgraded Greek sovereign debt to junk, and stock markets around the world were hit and lower.  Then standard Poole downgraded Portugal and Spain, fearing that the Greek financial crisis could spread across Europe and that the euro fell against the dollar. With interest rates on Greek government bonds soaring and 2-year bonds at 20% per cent, the Greek government is unlikely to raise money from financial markets. The European Union and the international currency ...

In recent times, Bitcoin has been hotly fired in the country.

Bitcoin has been hotly fired at home in recent times, but the talk about Bitcoin has gone well beyond the analysis of speculation, and even impatient people think it should be the international currency that is out of the dollar's hegemony.   Now Bitcoin is clearly not a currency, this is not because it is not issued by the government or central bank, but because it lacks the most fundamental general tolerance of money, that is, it has not become a universal medium for most people or most economic transactions, which means it does not have extensive commercial credit. In life, people habitually put paper money as a source of goods ...

Three gold bricks hit US dollar: throwing US debt, buying IMF debt, renminbi settlement

Summary: In tandem with the BRICS summit, the dollar has been heavily hit by the BRICS: U.S. Treasury bonds were collectively reduced by China, Russia and other major holders, with China, Russia and Brazil announcing their purchases of IMF bonds in the hope of resisting the risk of dollar assets and expanding their voice, according to data released 15th by the U.S.  At the same time, a growing number of countries are considering using the renminbi as a bilateral trade settlement currency; the UBS survey shows that "some Asian currency" is most likely to be the reserve currency that challenges the dominance of the dollar. Along with the BRICS summit, the dollar has been heavily hit by the BRICS: US Treasury 1 ...

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