Search results “Usd rmb bank of china exchange rate”
Exchange Rates Of The Chinese Renminbi, Yuan...
Information Source: "Bank Of China" United States Dollar (USD) to Renminbi (RMB) … United Arab Emirates Dirham (AED) to Renminbi (RMB)… Brazilian Real (BRL) to Renminbi (RMB)… South Korean Won (KRW) to Renminbi (RMB)… Russian Ruble (RUB) to Renminbi (RMB)… Euro to Renminbi (RMB)… Indian Rupee (INR) to Renminbi (RMB)… Turkish Lira (TRY) to Renminbi (RMB)… Japanese Yen (JPY) to Renminbi (RMB)… USD to Yuan (CNY)… AED to Yuan… EUR to Yuan… INR to Yuan… TRY to Yuan… RUB to Yuan… BRL to Yuan… KRW to Yuan… AED to Yuan… YPY to Yuan… CNY exchange rates… RMB exchange rates… China currency rates… Exchange Rates Of The Bank Of China (BOC) Yuan prices... CNF Forex Rates... China's money rates... Курсы китайского юаня ... 中国银行汇率(BOC) Курсы валют Банка Китая (BOC) ... Çin Bankası Döviz Kurları (BOC) ... बैंक ऑफ चाइना (बीओसी) की विनिमय दरें ... أسعار صرف بنك الصين (بوك) ... 中国銀行の為替レート(BOC)... Taxas de Câmbio do Banco da China (BOC) ...
the relationship between the current account balance and exchange rates of RMB against USD
A nation's balance of payments measures all economic transactions between that nation's people and the people of all other nations. A country that spends more on imports than it earns from the sale of its exports is said to have a trade deficit. Such imbalances have become controversial topics of debate in political and economic circles, particularly over the last decade as the Chinese economy has emerged as the world's largest exporter. As goods and services flow from one country to another, the exchange rates of those countries' currencies tend to fluctuate to promote balanced trade between the two nations. However, in some cases, most notably China, a country's central bank will intervene in the market for its own currency to manage its exchange rate against that of a trading partner. When such interventions occur, the normal, moderating effect that rising and falling exchange rates has on trade flows is disrupted, and trade imbalances can become persistent. This Video illustrates how trade flows should lead to appreciation and depreciation of currencies in a floating exchange rate system, and then explain how in the case of China, central bank policy aimed at buying large quantities of US government debt keeps the supply of Chinese currency high in the US and the demand for US dollars high in China. This means the dollar remains stronger than it otherwise might relative to the Chinese RMB, contributing to the persistent trade deficits the US exhibits in its trade with China.
Free Renminbi Exchange Rate versus the Dollar
http://www.theforexnittygritty.com/forex/free-renminbi-exchange-rate-versus-the-dollar Free Renminbi Exchange Rate versus the Dollar By www.TheForexNittyGritty.com China is allowing banks to set a free Renminbi exchange rate versus the dollar in over the counter trading. This may well be a first step in freeing its currency from state control according to a Reuter's article reported in the New York Times. China has permitted banks to freely set their own exchange rates for the renminbi against the dollar in over-the-counter transactions - another step toward freeing the exchange rate from government control. China has been moving slowly toward a free floating currency although slower than North American and European nations would have liked. Most recently banks were required to set Renminbi US dollar exchange rates within three percent of a government dictated exchange rate. The bottom line to a free Renminbi exchange rate versus the dollar is that China believes that its currency is now fairly priced versus the US dollar. As such a free Renminbi exchange rate versus the dollar or other major currencies will not result in a run on the dollar or a run on the Renminbi. Renminbi Internationalization It is a goal of the Chinese government to internationalize the Renminbi. According to the Euromoney online the move to a free Renminbi exchange rate versus the dollar is meant to further the Renminbi's internationalization. A common complaint of companies working in China is managing liquidity with what has been a government controlled currency. In a survey conducted by Euromoney's Research Group in association with ICBC on the Renminbi's rise, close to 3,000 treasury and finance professionals of international companies with exposure to China responded and shared their views on renminbi liquidity management, cross-border trade settlement, inter-company invoicing and some of the main operational challenges corporate treasurers face in the country. Additionally, China would like to have the clout that the US does in international affairs as seen in the ability of the United States and its Western allies to shut down trade with rogue nations via the international banking system. A free Renminbi exchange rate versus the dollar could be viewed with that aspect in mind as well. Free Trade, Fair Trade and Central Banks A seemingly eternal complaint of the North Americans and Europeans is how China manipulates its currency in order to drive up the value of the US dollar and Euro. This practice has made Chinese products more competitive and resulted in the growth of the Chinese industrial machine. Now that there is a move to a free Renminbi exchange rate versus the dollar, one might be naïve enough to think that currency manipulation is over with. Think again. Central Banks are always free to buy and sell currencies and even with a free floating Renminbi the People's Bank of China can still buy dollars to drive the price up and maintain a competitive advantage in trade. Meanwhile China is poised to pay for Russian oil and natural gas in Renminbi, trade Renminbi in London and is setting up Renminbi clearing bank in South Korea to facilitate a bilateral trade deal and trade denominated in Renminbi. Chinese and South Korean leaders have pledged to sign a bilateral trade agreement by the end of this year and introduce direct trading of their currencies to spur cross-border renminbi transactions and deepen economic ties in two of Asia's largest economies. So much for the USD as the only currency to trade against the minor currencies of the world! http://youtu.be/H0e5BJAYo-U
Views: 2399 ForexConspiracy
Focus on RMB rate VS USD transition since 1994 currency reform China government 人民币 1994年以来的汇率變遷
China took another step on Saturday towards turning the yuan into a global currency by doubling the size of its trading band against the dollar to 1 percent. By peeling back trading restrictions on the yuan, Beijing is working toward its goal of having a currency that trades relatively freely, or is basically convertible, by 2015. Below is a timetable of key reforms to China's foreign exchange system. 1988 - China sets up semi-official currency swap centres around the country to allow firms to trade the yuan, also known as the renminbi or "people's currency", at a rate that better reflects market demand. 1994, Jan - China unifies its dual exchange rates by aligning official and swap centre rates, officially devaluing the yuan by 33 percent overnight to 8.7 to the dollar as part of reforms to embrace a "socialist market economy". 1994, Apr - China sets up its first interbank currency market in Shanghai, the China Foreign Exchange Trade System. The yuan's value is fixed around 8.28 to the dollar and the central bank intervenes to keep it stable. 1996, Dec - China allows the yuan to be fully convertible under the current account. 1994-1996 - The yuan strengthens steadily from 8.7 to the dollar to around 8.28. 1997-1999 - China wins wide praise for keeping the yuan stable during the Asian financial crisis despite pressure to devalue. The yuan was boxed between 8.2770 and 8.2800 for about three years through frequent central bank intervention. 2000 - China allows the yuan to close slightly above its 30-basis-point band, which is later widened by 10 points to 8.2760-8.2800 against the dollar. 2001, Dec - China joins the World Trade Organization and pledges to gradually adjust its currency regime. 2003 - China's huge trade surplus with the United States and the rest of the world leads to mounting international pressure on Beijing to let the yuan rise to balance global trade. 2004, Dec - Premier Wen Jiabao says China will move gradually towards a flexible currency regime. 2005, Jul - China revalues the yuan by 2.1 percent and revises rules governing its currency, saying it has shifted to "a managed floating exchange rate based on market supply and demand with reference to a basket of currencies". The central bank says the dollar, euro, yen and Korean won are the main currencies in the basket. Others include the Singapore dollar, sterling, Malaysian ringgit, Russian rouble, Australian dollar, Thai baht and Canadian dollar. The weightings are secret. 2007, May - China widens the yuan's daily trading band against the dollar to 0.5 percent from 0.3 percent. 2008, Jul - China's central bank effectively pegs the yuan against the dollar at 6.83 to help its economy ride through the worst of the global financial crisis. 2009, Jul - China takes a step towards internationalizing the yuan by launching a pilot programme that allows selected Chinese regions to pay for imports and exports in yuan. 2010, Jun - China says it is resuming its reforms of the yuan exchange rate and increasing currency flexibility, effectively ditching a two-year peg to the dollar that was enacted during the global financial crisis. 2012, Feb - The yuan hits a record high of 6.2884 per dollar. 2012, Mar - China steps up efforts to internationalize the yuan by allowing all firms in the country to pay for imports and exports in yuan. 2012, Apr - China widens the trading band for the yuan against the dollar to 1 percent from 0.5 percent. Focus on RMB rate against USD transition since 1994 currency reform China government 聚焦人民币 1994年以来的汇率變遷,for more information about china world news visit site at http://youtube.com/user/cosmeticmachines as well as business website at http://penglaichina.com
USD-RMB Exchange Rate
USD-RMB Exchange Rate
Views: 744 bonnetwork
China to stick to reforms in RMB exchange rate
Subscribe to us on Youtube: https://www.youtube.com/user/CCTVcomInternational Follow us on: Facebook: https://www.facebook.com/cctvcom Twitter: https://twitter.com/cctv_english Instagram: http://instagram.com/cctvenglish Weibo: http://weibo.com/cntvenglish Subscribe to us on Youtube: https://www.youtube.com/user/CCTVcomInternational Follow us on: Facebook: https://www.facebook.com/cctvcom Twitter: https://twitter.com/cctv_english Instagram: http://instagram.com/cctvenglish Weibo: http://weibo.com/cntvenglish Subscribe to us on Youtube: https://www.youtube.com/user/CCTVcomInternational Follow us on: Facebook: https://www.facebook.com/cctvcom Twitter: https://twitter.com/cctv_english Instagram: http://instagram.com/cctvenglish Weibo: http://weibo.com/cntvenglish Subscribe to us on Youtube: https://www.youtube.com/user/CCTVcomInternational Follow us on: Facebook: https://www.facebook.com/cctvcom Twitter: https://twitter.com/cctv_english Instagram: http://instagram.com/cctvenglish Weibo: http://weibo.com/cntvenglish
Views: 43 CCTV English
Changing currency on the street in China: Rmb to dollars/ euros...
In China in front of bank you change any currency at a higher interest rate! In fact these people work together with some bank employee... But this is totally illegal, they offer a higher interest rate and share the benefit with the bank employee (this is kind of cheating the bank). As a foreigner living in China, I would recommand changing your foreign currency with these people, you will benefit from a higher interest rate. But you should go there with a Chinese personn... Take care dear viewers! Subscribe!
Views: 937 China Non-Stop
RMB Exchange Rate to Remain Stable in 2017: Central Bank Governor
The exchange rate of China’s currency the Renminbi (RMB) will remain stable in 2017 along with reform and economic efforts, said People’s Bank of China (PBOC) governor Zhou Xiaochuan, on Friday. Zhou made the remarks at a press conference on the sidelines of the fifth session of the 12th National People's Congress (NPC) when answering a question on what measures the central bank will take in 2017 to stabilize the RMB’s exchange rate, which went through relatively stronger fluctuations last year. The governor first explained why the fluctuations in 2016 were stronger than usual. He attributed the difference to two reasons. First is that in the second half of 2016, China’s foreign investments and overseas spending grew higher than in previous years due to Chinese enterprises’ growing interest in purchasing foreign companies. Secondly, the U.S. dollar grew stronger with a faster-than-expected pace after the election of U.S. President Donald Trump. As for the RMB exchange rate in 2017, Zhou said it will remain stable due to healthier development of the Chinese economy and the progress made in reforms. "We believe that this year, along with the steady and healthier development of the Chinese economy, and the progress of structural reforms on the supply-side, and the work on destocking, deleveraging, overcapacity cut and reducing costs and strengthening weak economic links, as well as the world’s stronger confidence in the Chinese economy, the RMB exchange rate will be automatically granted with a stable developing trend," said Zhou. Meanwhile, the consistency in monetary policies and more elaborated implementation of these policies will also contribute to the stabilization of the RMB exchange rate in 2017, Zhou added. However, the normal fluctuation in the RMB exchange rate cannot be ruled out, as no one can predict what uncertainties and affairs are going to happen, said Zhou. "Of course the foreign exchange market has always been a sensitive market. It will show constant fluctuations with the impact of the affairs happening in the global economy and in China. So nobody can give a precise prediction over what uncertainties will come up in 2017, and what affairs will take place. Therefore, the normal fluctuation in the exchange rate should be regarded as a normalcy. It is a normal situation," he said. http://www.cctvplus.com/news/20170310/8045009.shtml#!language=1 Subscribe us on Youtube: https://www.youtube.com/c/CCTVPlus CCTV+ official website: http://www.cctvplus.com/ LinkedIn: https://www.linkedin.com/company/cctv-news-content Facebook: https://www.facebook.com/NewsContent.CCTVPLUS Twitter: https://twitter.com/CCTV_Plus
Yuan-Niversary: One year since exchange rate reform
It has been a year since the People's Bank of China (PBOC) carried out extensive exchange rate reform, marketizing the yuan’s exchange rate against the dollar. The PBOC now maintains the stability of the yuan against a basket of currencies set by the International Monetary Fund (IMF), fixing the yuan's daily trading midpoint according to the currencies' closing rates on the previous day. Subscribe to us on Youtube: https://goo.gl/lP12gA Download for IOS: https://itunes.apple.com/us/app/cctvnews-app/id922456579?l=zh&ls=1&mt=8 Download for Android: https://play.google.com/store/apps/details?id=com.imib.cctv Follow us on: Facebook: https://www.facebook.com/cctvnewschina Twitter: https://twitter.com/CCTVNEWS Google+: https://plus.google.com/+CCTVNEWSbeijing Tumblr: http://cctvnews.tumblr.com/ Weibo: http://weibo.com/cctvnewsbeijing
Views: 461 CGTN
U.S. RMB exchange rate accusation unjustified: experts
Experts say the U.S. accusation that China's currency, renminbi, remains "significantly undervalued" is not justified.
Views: 62 New China TV
Getting Money In and Out of China
What is the best way of getting money in and out of China? If you are coming to China, should you bring cash or credit cards? Will your bank card work in ATMs and Chinese banks? What is the exchange rate in China? Can you use USD in China? Want to survive in China? Let me show you how. Join me on Facebook: http://www.facebook.com/winstoninchina Support me on Patreon: http://www.patreon.com/serpentza Twitter: @serpentza Music used: starlitdeception.s3m
Views: 65502 serpentza
Will China's Currency Dominate the US Dollar? | China Uncensored
Could China's yuan rival the US dollar as the next major reserve currency? The IMF has made the Chinese yuan, or renminbi, the only non-democracy to be included in the SDR, or Special Drawing Rights. What does any of that mean?! Watch China Uncensored to find out what this means for the global economy. Join the China Uncensored 50-Cent Army! https://www.patreon.com/ChinaUncensored Subscribe for more China Uncensored: http://www.youtube.com/ntdchinauncensored Make sure to share with your friends! ______________________________ Twitter: https://twitter.com/ChinaUncensored Facebook: http://www.facebook.com/ChinaUncensored Google+: https://plus.google.com/+NTDChinaUncensored Instagram: instagram.com/ChinaUncensored ______________________________ MOBILE LINKS: 5 Ways Star Wars is Surprisingly Like China https://www.youtube.com/watch?v=Q49ZGvfGOIU China Sells Killer Drones to the Middle East https://www.youtube.com/watch?v=pDd4or3ckgg
Views: 199858 China Uncensored
IMF official: Chinese currency RMB heads to equilibrium, no longer undervalued
IMF official Markus Rodlauer has said that Chinese currency the Renminbi is moving towards equilibrium while China' external position is strengthening. The remarks come after U.S. Treasury Secretary Jack Lew has said that the RMB exchange rate remains "significantly undervalued."
Views: 197 New China TV
Trading in Chinese currency begins in Taiwan
1. Close-up sign reading Chinese Yuan in Chinese characters 2. Wide of foreign exchange rates board 3. Various shots of Chinese Yuan notes being counted by counting machine 4. SOUNDBITE (Mandarin): Wang Wen-lung, Deputy general manager of foreign department of Mega International Commercial Bank: "If we receive counterfeit notes of Chinese Yuan worth under US Dollars 200, our bank will confiscate the notes. If the value is over USD 200, we will call the police." 5. Close-up one counterfeit and one genuine Chinese Yuan note 6. Wang pointing out differences 7. SOUNDBITE (Mandarin): Wang Wen-lung, Deputy general manager of foreign department of Mega International Commercial Bank: "Once the Chinese mainland tourists come in, there will be more banks which offer this exchange service. Then it will help decease our costs. In that case, the exchange rate will decrease too." 8. Tilt down from sign reading "Currency Exchange" to money counting machine 9. Close-up Chinese Yuan bill 10. Tilt down sign showing domestic flight details to foreign exchange counter 11. Foreign Exchange sign reading "Chinese Yuan exchange" in Chinese characters STORYLINE: The Chinese Yuan was on Monday officially available for exchange in Taiwan's local banks, paving the way for the arrival of mainlanders on charter flights this Friday. A person can exchange the equivalent of 20-thousand yuan or 88-thousand New Taiwan dollars (2,912 US dollars) at one time, Taiwan Central Bank had announced last week. Currently the yuan, or RMB which stands for Renminbi in Mandarin, can only be traded legally on Kinmen and Matsu, two islands close to the Chinese coast, which Taiwan retained after it split from the mainland in 1949. However, a strong gray market supports its exchange in Taipei and other major Taiwanese cities. Wang Wen-lung, deputy general manager of foreign department of Mega International Commercial Bank, said the bank has shown staff on how to recognise counterfeit RMB notes. "If we receive counterfeit notes of Chinese Yuan that worth under US Dollars 200, our bank will confiscate the notes. If the value is over USD 200, we will call the police," he said. The current exchange rate for RMB is 4.554 Taiwanese dollars. The rate is maintained relatively high due as the costs for banks to buy RMB is high too, added Wang. "Once the Chinese mainland tourists come in, there will be more banks which offer this exchange service. Then it will help decease our costs. In that case, the exchange rate will decrease too," he said. About four (m) million Taiwanese visit China yearly. Under a new agreement between Taiwan and China that will take effect this week, an estimated 300-thousand Chinese tourists could visit Taiwan every year. The first charter flight across the Taiwan Straits will be launched on July 4, and the direct visit by mainland visitors will begin on July 18. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/31df5bdf394e2a982cf96d35f8d08770 Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Views: 250 AP Archive
One year after China’s exchange rate reforms
Last August, China took a big step to reform its exchange rate system, allowing for market forces to play a greater role in the yuan's daily value. One year on, how much has changed? Xu Sitao, Chief Economist from Deloitte China, and Nicholas Lardy, Anthony M. Solomon Senior Fellow at the Peterson Institute for International Economics, discuss the progress. Subscribe to us on Youtube: https://goo.gl/lP12gA Download for IOS: https://itunes.apple.com/us/app/cctvnews-app/id922456579?l=zh&ls=1&mt=8 Download for Android: https://play.google.com/store/apps/details?id=com.imib.cctv Follow us on: Facebook: https://www.facebook.com/cctvnewschina Twitter: https://twitter.com/CCTVNEWS Google+: https://plus.google.com/+CCTVNEWSbeijing Tumblr: http://cctvnews.tumblr.com/ Weibo: http://weibo.com/cctvnewsbeijing
Views: 653 CGTN
China's Yuan rate significantly lower against the U.S dollar
China's central bank has announced a significantly lower daily reference rate for the yuan against the U.S dollar. This, is as the People's Bank of China attempts to make its exchange rate regime more competitive and market-oriented. Hu Yinan has more
Views: 255 CGTN Africa
China’s New Exchange Rate Regime: Structural Reform Or Competitive Devaluation?
The People's Bank of China (PBOC) changed its currency regime earlier this week. This surprised the market, leading to an unexpected weakening of the “redback.” Paul Gruenwald, Asia-Pacific Chief Economist, explains what happened, the motives behind these moves and what to expect next.
Views: 361 S&P Global Ratings
China's central bank official dismisses RMB concerns
Yao Yudong, head of the Research Institute of Finance and Banking under China's central bank, dismisses concerns about RMB exchange rate fluctuation. Following the decision of the International Monetary Fund to include the RMB in its SDR basket, Yao said Chinese economy can offer more liquidity for the global market. Besides, many developed and emerging countries could search for investment from Chinese enterprises and banks, especially the Asian Infrastructure Investment Bank or AIIB.
Views: 209 New China TV
Pegging the yuan | Money, banking and central banks  | Finance & Capital Markets | Khan Academy
How the Chinese Central Bank could peg the Yuan to the dollar by printing Yuan and buying dollars (building up a dollar reserve). Created by Sal Khan. Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/core-finance/money-and-banking/currency-tutorial/v/chinese-central-bank-buying-treasuries?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Missed the previous lesson? Watch here: https://www.khanacademy.org/economics-finance-domain/core-finance/money-and-banking/currency-tutorial/v/currency-effect-on-trade-review?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Finance and capital markets on Khan Academy: This tutorial walks through how China's undervaluing of its currency impacts trade and prices (which also fuels cheap borrowing for the U.S.). About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content. For free. For everyone. Forever. #YouCanLearnAnything Subscribe to Khan Academy’s Finance and Capital Markets channel: https://www.youtube.com/channel/UCQ1Rt02HirUvBK2D2-ZO_2g?sub_confirmation=1 Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
Views: 110178 Khan Academy
China's RMB Exchange Rate With Dollar Rises, But Devalues Internally
Follow us on TWITTER: http://twitter.com/cnforbiddennews Like us on FACEBOOK: http://www.facebook.com/chinaforbiddennews Chinese people are mocking rising exchange rate prices for the Renminbi, despite it having devalued inside China. One young man was interviewed by China's Central Television (CCTV) during the Third Plenary Session of the Chinese Communist Party (CCP). He highlighted that this is the issue of "most concerns for reforms". Analysts say that the RMB has been repeatedly devalued in China. However, the exchange rate against the dollar has continued to rise. The result is that the Chinese people can't afford to live, and foreign companies are constantly complaining. On November 12, the four-day party meeting came to a close. Prior to this, a CCTV reporter interviewed Chinese people on the street, with many responding that they didn't know what the Third Plenary Session was about. Instead, people complained about increasing house prices, and expensive medical care. One man said that the "RMB is in a sorry state for the Chinese people." Hua Po, current affairs commentator: "RMB has repeatedly depreciated, but the price of goods has risen. The exchange rate for the RMB against the dollar has continually risen. For ordinary Chinese people, prices are higher, but their incomes can't pay their bills. Thus, they complain everyday about the high prices." Hua Po says that foreign trade companies are also complaining. Because RMB exchange rates are constantly rising, their export competition has been deeply weakened. Who is benefiting from this situation? Hua Po: "The privileged groups within the CCP can benefit. This is because they can push the prices very high inside China, and thus make the RMB devalue. Once they acquire devalued RMB, they can exchange it to dollars at a good rate, and then transfer it abroad. This system has become very profitable." Chinese state media reported that 'Grandma Li' went to buy rice in a market. She found the price went up to 6.6 yuan per kilogram, and could remember that it was 3.8 yuan per kilogram in 2005. Lan Jiping, Professor at Capital University of Economics and Business in Beijing, also took rice as an example. Lan calculates the value for 1000 yuan, which is equivalent to 576 yuan in 2005. It means that 1000 yuan has lost value by 424 yuan within eight years. Money Weekly reported that cloth was worth a few dozen yuan in the past. It is now selling for over a thousand yuan. Property prices have risen from several thousand yuan per square meter to between 30,000 to 40,000 yuan. Taking these cases as examples indicates that RMB has devalued by 500% within eight years. Gong Shengli, researcher, China Financial Intelligence Unit:"Chinese people's income hasn't increased accordingly. Who should pay them money? Civilians have to pay more, but they don't get the income they need to do so." Hong Kong's Oriental Daily describes that China is the worlds largest bank note printing country. At the end of 2012, China's money supply reached 97.4 trillion yuan. This is nearly taking up 25% of the global total, and is 1.5 times greater than the US. The report says that the madness of printing money is equivalent to simply ripping off it's civilians. Zhu Xinxin, former editor, Hebei People's Radio Station:"The CCP uses different ways to plunder from its citizens, some of which are visible, the others invisible. There are so many different taxes and fees, which civilians become heavily burdened by." Zhu Xinxin suggests that large amounts of bank notes have been printed, resulting in the rich becoming richer, and the poor becoming poorer. Rich people are using financial leverage to increase their wealth, and poor people are finding it difficult to survive. Zhu Xinxin: "CCP propaganda of China as a prosperous nation is an entirely illusory image. The truth is one of rich officials and poor civilians. Actually, the privilege group of CCP officials have seized the national assets in their hands." Sources indicate that 0.4% of the Chinese people have seized 70% of China's wealth. The high-level CCP, and the families of officials and princeling covert both the money and land. They launder the money, and their assets have reached thousands of billions of yuan. Sources say that PetroChina, China Mobil, Industrial and Commercial Bank, and other major state-run companies' were listed on the US stock market. US The state-run People's Tribune newspaper has reported that in 2009, relevant organs announced the 3,000 richest Chinese families. These families' wealth has a net worth of 1.69 trillion yuan. The article admitted that two out of three resources of the richest families are "red families and red businessmen." 《神韵》2013世界巡演新亮点 http://www.ShenYunPerformingArts.org/
Views: 819 ChinaForbiddenNews
China’s exchange rate policy over the past decade
Ben Bernanke explains the recent changes in China’s exchange rate and economic policy and why they are positive for the country’s economy. https://www.brookings.edu/events/gaining-currency-the-rise-of-the-renminbi/ On September 23, the Global Economy and Development program at Brookings hosted the launch of “Gaining Currency: The Rise of the Renminbi,” featuring the book’s author, Brookings senior fellow Eswar Prasad. Subscribe! http://www.youtube.com/subscription_center?add_user=BrookingsInstitution Follow Brookings on social media! Facebook: http://www.Facebook.com/Brookings Twitter: http://www.twitter.com/BrookingsInst Instagram: http://www.Instagram.com/brookingsinst LinkedIn: http://www.linkedin.com/com/company/the-brookings-institution
Views: 1561 Brookings Institution
Inside the Chinese Basket: Is China Manipulating the Currency Exchange Rate?
Speaker: Kazuo Yamazaki "Everybody is talking about China. In fact, everybody should be talking about China. According to the Nobel Laureate economist Joseph Stiglitz of Columbia University, China is today experiencing "the most remarkable economic transformation in history." But this "most remarkable economic transformation in history" has come with its cost, and this cost could be huge. Economists such as Morgan Stanley Andy Xie argues that China has been stuck in "macro trap" that disallows itself to freely control its interest rate or the exchange rate, and the hard landing due to the real estate bubble in 2007-08 is very possible. The other side of the picture of China's trade surplus has been the US current account deficit that has reached an unprecedented level of $820 billion in 2005 alone. Policymakers such as Schumer and Graham have been trying to impose tariff rates on the Chinese imports. Now Grassley and Backus are taking actions to put sanctions on the Chinese imports if necessary. John Snow of the US Treasury Department expressed his opinion that China has been manipulating its currency exchange rate for its export advantage. Chinese President Hu Jintao came to Washington to discuss the trade friction issue with President Bush but only left without making much progress. People's Bank of China has recently risen its domestic lending rate by 27 basis point and appreciated RMB below 8RMB-1USD. Yet, the internationally community remains unsatisfied. The world has seen such trade frictions before; during the Great Depression or the rise of Japan in the 1980s. Unfortunately, the world has never witnessed any good result out of these economic conflicts either. For example, economists such as Robert McKinnon of Stanford University points out that one of the main causes of Japan's Lost Decade in Great Deflation was due to the forced appreciation of Japanese Yen in the 1980s. My research combines information from different credible sources, and reaches several conclusions. Some of them are: 1) There has been an economy recycle between the US and China. 2) China does manipulate currency exchange rate, although plenty of countries have done the same in history. 3) People's Bank of China has not raised its rate partially to justify the devalued exchange rate of Chinese currency Rembini. 4) RMB is pegged to the basket with the USD being the dominant force inside the basket. 5) The global imbalance has been expanding in its magnitude day by day, and both China and the US have roles to play."
Views: 1311 aaaricuny
RMB against USD breaks records 40 times in 2013 below 6.10  China  on the road to be another Japan
The yuan traded stronger than 6.10 per dollar for the first time in 20 years after the central bank raised its daily fixing rate to a near record high and the nation stepped up efforts to increase the Chinese currency's global use. The yuan strengthened for three consecutive days and closed at a record high of 6.0995 against the US dollar in Shanghai on Wednesday amid the ongoing impasse over US debt talks, China Foreign Exchange Trade System prices showed. It touched 6.0965 earlier, the strongest level since the government unified the official and market exchange rates at the end of 1993. The last time the currency traded below 6.1 to the dollar was on Dec 27, 1993, when it was at 5.8245. It weakened to 8.7217 on Jan 6, 1994, after a new exchange rate mechanism was implemented. It has appreciated 43 percent since then. The yuan's moves are restricted to 1 percent on either side of the reference rate set every day by the People's Bank of China, the nation's central bank. The central parity rate of the yuan against the US dollar advanced four basis points to 6.1408 on Wednesday, according to data from the central bank. The central parity rate of the yuan against the US dollar is based on a weighted average of prices before the opening of the market each business day. Democratic and Republican leaders in the US Senate could announce a deal soon to extend the government's borrowing authority and quickly re-open federal agencies that have been closed since Oct 1, reported Reuters on Wednesday, citing a Senate aide. Analysts said the price of the US dollar against the yuan may fluctuate because it will take time for the market to digest both the results of the US debt talks and possible continuous yuan appreciation. "Many factors are affecting the foreign exchange market at the current time, including decision makers' stands toward the ongoing rising price of the yuan against the US dollar," said Zhou Yunxie, a foreign exchange analyst with Shanghai-based Zhongqing Gold Investment Co. Recent economic data may indicate that China is going to see another round of yuan appreciation, according to Liu Dongliang, an analyst with China Merchants Bank. Market insiders said the breakout on Wednesday through 6.1 has a psychological effect on market participants. There have not been any large State-run banks buying dollars from the currency market since Monday, which has also affected market sentiment. "We have not seen any big buys of dollars in recent days. The market has a prudent sentiment at the moment waiting for guidelines from policymakers. There may be a wider trading band or more capital market reforms to be introduced," said a Shanghai-based trader with a State-owned bank who preferred not to be named. The yuan on the onshore spot market since Monday has reversed positions with the offshore yuan market in Hong Kong because market participants did not prepare for further gains after robust advances since June. The continued positive momentum in Chinese economic data, in the context of the broad-based US dollar weakness, is likely to support a return of portfolio inflows and further appreciation in the yuan this year, said Nick Verdi, a foreign exchange analyst with Barclays Research in a recent note. Authorities have taken steps in recent weeks to promote the use of the yuan in international trade. On Tuesday, China and the United Kingdom agreed to continue to build London into a major offshore market for yuan trading, underlining the strong financial ties between the two countries. RMB against USD breaks new records 40 times in 2013 Finally below 6 10,more information about china financial news browse and subscribe channal at http://youtube.com/user/cosmeticmachines
HK banks to offer Chinese currency deposit services
1. Various exterior shots of Bank of China Hong Kong 2. Various exteriors of the Hong Kong and Shanghai Banking Corporation Limited 3. Wide interior of the Hong Kong and Shanghai Banking Corporation Limited 4. Close up a sign showing bank services 5. Various a bank teller counting Renminbi notes 6. Wide of putting Renminbi notes into a note-counting machine 7. Close up notes coming through from the machine 8. Various set up of Vincent Kwan, Chief Economist of Hang Seng Bank Hong Kong 9. SOUNDBITE (English) Vincent Kwan, Chief Economist of Hang Seng Bank Hong Kong: "Hong Kong will become the first city outside mainland China that can offer investors a first taste of Renminbi financial services. So in this sense it''''''''s a giant step for mainland China actually, because by allowing Hong Kong people to exchange Hong Kong dollars into Renminbi though with their limit, it still represents a relaxation of capital control by mainland China. In such a case, I think probably it paves way for future relaxation in the future." 10. Wide of Vincent Kwan 11. SOUNDBITE (English) Vincent Kwan, Chief Economist of Hang Seng Bank Hong Kong: " By allowing them (mainland visitors) to use credit card in Hong Kong, effectively, they lifted the limit of these outgoing visitors in carrying money in Hong Kong, currently they are limits for them. I think for Hong Kong financial services and Hong Kong as a financial centre, it''''''''s very important that funds are being gathered in a place and Hong Kong can provide all kinds of financial services." 12. Wide of an exchange shop 13. Mid of customers exchanging money 14. Sign writing money exchange 15. Various of commercial buildings in Hong Kong 16. Various of street scenes in Hong Kong STORYLINE: Hong Kong banks can begin to offer individual Renminbi (RMB) services including deposit, exchange, remittance and credit card to their customers on a trial basis on Wednesday. Bank of China Hong Kong (BOCHK), Hong Kong''''''''s second largest bank, starts to provide Renminbi savings and fixed deposits with maximum interest rates of up to 0.5 per cent and up to 0.55 per cent per annum respectively. As for exchange services, BOCHK, the only Renminbi clearing bank in the territory appointed by the People''''''''s Bank of China, provides RMB banknote and HKD (Hong Kong dollar) two-way exchange service to personal customers. Each customer is entitled to exchange up to 20,000 yuan (around 2,400 US dollars) through a deposit account. The Chief Economist of Hang Seng Bank, Vincent Kwan, said that he does not think the RMB deposit service will have a significant impact on the economy immediately, with daily personal exchange limits currently fixed at 20,000 yuan. He added that the significance of the RMB banking service is more symbolic than functional. Apart from Renminbi deposit services, Vincent Kwan added that allowing mainland visitors to use credit cards in Hong Kong helps remove barriers to the flow of funds between mainland China and Hong Kong. The maximum interest rates offered among Hong Kong banks for Renminbi savings deposit are between 0.5 to 0.75 per cent, and fixed deposit are between 0.55 to 0.78 per cent per annum. The rates are higher than that offered in Hong Kong dollars saving accounts. The Hong Kong and Shanghai Banking Corporation Limited has no firm date when it intends to start the RMB services yet. Exchange shops currently provide currency exchange services including the RMB in Hong Kong. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/894763872b5078b71e90f8be5f55e880 Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Views: 449 AP Archive
Up after Up for Chinese Yuan 30% Percent RMB appreciates against US Dollar since china Rate Reform
China's export growth was disappointing in the final month of 2013due to lackluster demand from developed markets, data released Friday showed. A teller counts Chinese yuan notes in Beijing. Agence France-Presse/Getty Images But there could be more problems in store for China's exporters in 2014 as the yuan currency's continued appreciation against the U.S. dollar makes the country's goods more expensive in world markets. China's exporters have to contend with rising wages and other costs that have crept up in recent years. The appreciation of the yuan, or renminbi, is another headache, which makes China's goods more expensive overseas and reduces profits in local-currency terms. "Rising wages and the yuan are a tremendous problem for us," said Uwe Hutzler, the general manager of a Chinese company that supplies leather to clothing manufacturers. "We have to pay our expenses and salaries in renminbi but our invoices are in dollars." China still remains an export powerhouse for manufacturing goods like electronics. The nation's share of world trade remains above 10% despite cost pressures. Foreign companies say they need to invest in China because of its large scale of production and integrated supply networks. Data released Friday showed China's total trade exceeded $4 trillion in 2013, overtaking the U.S. as the world's largest trading country. But there are signs of potential problems ahead for the nation's export sector. Weak demand from the U.S. and Europe is a concern. Exports in December grew 4.3% compared with a year earlier, the latest data showed, down from 12.7% year-over year growth in November. That is partly explained by distortions in the data, with an unusually strong month in December 2012 providing an unflattering comparison. ANZ Bank pointed out export growth in 2013 as a whole was 7.6%, the second straight year exports have undershot an 8% target. The bank put this down to "diminishing trade competitiveness" as the yuan appreciates. In real terms — taking account of inflation — the currency appreciated 18.5% against the dollar between June 2010 and November 2013, according to calculations by Karim Foda, a researcher at Brookings Institution. Against some Asian currencies — notably the Indonesian rupiah and the Indian rupee, which fell sharply last year — the declines have been even larger. More than 500 Chinese companies surveyed by Global Sources, a China-based firm that runs an online marketplace for exporters, cited the strength of the yuan as the most pressing challenge of 2014. A year earlier the currency issue was only number four on the list, eclipsed by rising costs, price competition and slow orders from Europe and the U.S. To deal with rising costs, many manufacturers based in coastal southern China are moving production to cheaper inland facilities or to cheaper countries like Cambodia, Bangladesh and Vietnam. Since the beginning of the 2008 financial crisis, shoemakers in Guangdong region have moved about one third of their production to the interior of China and another third to Southeast Asia, said Li Peng, secretary general of Asian Footwear Industry Association. "A lot of shoemakers near the coastal areas barely make any profits," he said. "They are struggling to survive." Chetan Ahya, an economist with Morgan Stanley in Hong Kong, says it's too early for manufacturers to have shifted orders from China based on currency movements, but this could become a bigger factor in 2014. Chinese officials point out that a stronger yuan also means cheaper imports. China's government is attempting to move the country away from reliance on state-led industry and exports toward larger domestic consumption. Cheaper imports of foreign goods will help achieve this goal. "Yuan appreciation will surely lift exports prices and undermine our exports competitiveness," said Zheng Yuesheng, a spokesman for the Customs Administration. "But... yuan appreciation also helps lower our imports costs." Policy makers, though, are keen the shift away from exports and heavy industry doesn't lead to economic dislocations and rising unemployment. There already are worrying signs that China's role as the world's factory floor is being undercut. Foreign investment into Chinese manufacturing dropped 5.7% year-over-year in the first 11 months of 2013 to $64.7 billion, the most recent data available, after a 7.1% decline in 2012. In contrast, Vietnam's FDI surged by more than 80% last year as manufacturers rushed to take advantage of lower costs. Up after Up for Chinese Yuan 30% Percent RMB appreciates against US Dollar ever since china exchange,for more infromation about china financial system subscribe and browse channal at http://youtube.com/user/cosmeticmachines
Exchange Rates Of The Canadian Dollar (CAD)...
Official Exchange Rates Of The Canadian Currency... (Information Source: Bank Of Canada) 1 USD United States Dollar to CAD 1 EUR Euro to CAD 1RUB Russian Ruble to to CAD 1 TRY Turkish Lira to CAD 1 SAR Saudi Arabian Riyal to CAD 1 MXN Mexican Peso to CAD 1 RMB Chinese Renminbi to CAD 1 JPY Japanese Yen to CAD 1 BRL Brazilian Real to CAD 1 CHF Swiss Frank to CAD 1 AUD Australian Dollar to CAD 1KRW South Korean Won to CAD 1 INR Indian Rupee to CAD 1 IDR Indonesian Rupiah to CAD 1 MYR Malaysian Ringgit to CAD Canadian dollar rates today... CAD prices... Exchange rates of the Central Bank of Canada... How much Canadian dollar... USD/CAD forecast... EUR/CAD forecast... Forex and money rates in Canada... Курсы валют канадского доллара (CAD)... Kanada dolarının döviz kuru... أسعار صرف الدولار الكندي (CAD)... 캐나다 달러 (CAD) 환율... カナダドルの為替レート(CAD) ... 加元汇率 ... Taux de change du dollar canadien ... कनाडाई डॉलर की विनिमय दरें ... Tipos de cambio del dólar canadiense ... Taxas de câmbio do dólar canadense ... Tassi di cambio del dollaro canadese ... Kadar Pertukaran Dolar Kanada ... Wechselkurse des kanadischen Dollars ...
Shot 01/01/2004. FILE OF CHINESE CURRENCY, Bank employees counting Chinese currency/ VS US money being printed. To License This Clip, Click Here: http://collection.cnn.com/content/clip/370016_665.do
Views: 773 CNN
The relationship between the Current Account Balance and Exchange Rates
This lesson will illustrate how trade flows should lead to appreciation and depreciation of currencies in a floating exchange rate system, and then explain how in the case of China, central bank policy aimed at buying large quantities of US government debt keeps the supply of Chinese currency high in the US and the demand for US dollars high in China. This means the dollar remains stronger than it otherwise might relative to the Chinese RMB, contributing to the persistent trade deficits the US exhibits in its trade with China. Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870
Views: 112594 Jason Welker
Exchange Rate Still in Focus
Follow us on TWITTER: http://twitter.com/cnforbiddennews Like us on FACEBOOK: http://www.facebook.com/chinaforbiddennews Next week U.S.-China strategic economic dialogue will be held in Washington D.C. and RMB exchange rate is still in the focus. Geithner, the U.S. Treasury Secretary hopes that RMB appreciation will accelerate. Scholars believe however, that the Chinese government will not let go of the RMB exchange rate. "US-China Strategic Economic Dialogue" led in its 3rd round by US Secretary of State and Geithner, and Chinese Vice Premier Wang Qishan, will work on issues of bilateral relations development. Geithner said recently that he would urge Chinese officials to implement a series of economic reforms, including introducing more flexible exchange rates driven by market forces, and improving U.S. companies investing environment. Geithner also said the focus of this talk will be the currency exchange rate of RMB to USD. RMB appreciation is good to curb China』s inflation, also it can prevent expanding of real estate bubble in China. Chinese leaders also recognize this. U.S. economist Ho Qinglian said RMB appreciation can only curb foreign exchange reserves, reducing domestic money deposited. Most likely it can inhibit the export, but effect on price increases is limited. Geithner acknowledged that since last June, China has allowed the rate of RMB to USD to increase by about 5%. U.S. congressmen and manufacturers believe RMB value was down by as much as 40%, making Chinese goods on markets very cheap. Huang Yiping, an economist in China's Macroeconomic Research Centre in Peking Univ. told Wall Street Journal that Chinese leaders still tightly control RMB appreciation with 0.5% a month on average. He believes that RMB could float freely with conditions letting the market determine its level. Central bankers agree with his views, but senior leaders are in control of the decisions. Why the Chinese Communist Party's (CCP) top levels do not free the exchange rate? Buddhist Hermitage, a politeconomy critic believes the fundamental issue is that only CCP and China out of all countries does not use free exchange rate in international trades, causing trade imbalances and disrupting global economic order. The Chinese government demands every penny earned overseas and then prints more money. The government thus owns a large foreign exchange reserve as a sovereign fund. Buddhist Hermitage said, "From this we know how China's foreign exchange system exists. China (CCP) is reluctant to free foreign exchange system, unwilling to let the people hold foreign exchange. CCP wants to use the money to maintain its rule, related to its fate. On foreign exchange rate China (CCP) is unwilling to compromise and tries to find ways to maintain its political power." Some people think RMB appreciation will greatly affect China's exports, so they go against it. Huang Yiping said that to make export enterprises have strong growth, one must learn to produce higher value-added products, or move production from the coastal area to mainland where wage level is lower. This is the approach to achieve continuous growth. NTD reporters Song Feng and Zhou Ping. 《神韵》2011世界巡演新亮点 http://www.ShenYunPerformingArts.org/
Views: 178 ChinaForbiddenNews
Yuan's exchange rate to rise or fall 2% from daily peg
Starting today, the daily trading range for the yuan is doubled, underlining the country's efforts to allow market to play a bigger role in its economy.
Views: 129 CGTN
The Currency Report - U.S. and China's Exchange Rate Saga - Bloomberg
According to UBS, China to Keep Buying Treasuries, China Must Emphasize U.S. Dollar Safe (Bloomberg News)
Views: 1449 Bloomberg
unilateral appreciation from RMB against USD still haunts in 2014 Chinese Export&rate dilemma
The yuan rose to its strongest level against the US dollar in nearly two decades yesterday, highlighting Beijing's determination to roll out more reforms to make its currency more flexible despite the short-term headwinds to exports. The renminbi has been trading near the upper limit of its daily trading band from February till June this year. Since June, the gap between the spot rate and the daily reference rate - which is set by the central bank as the middle point of the permissible trading band - has narrowed as expectations of yuan appreciation cooled following disappointing economic data from Beijing. But since late last month, the currency regained upward momentum as the government kept setting a stronger daily reference rate, at odds with data signalling a further slowdown that would logically prompt a weakening of the currency. The yuan closed at 6.1192 against the US dollar in Shanghai yesterday, marking the strongest level since the end of 1993. That was again near the top of the 1 per cent range in which the currency is allowed to deviate from the daily reference rate. Economists, however, said room for yuan appreciation from the current level was limited in the second half of this year and into 2014 as Beijing battled to keep economic growth around the 7.5 per cent mark - no mean feat given the relative loss of currency competitiveness seen since 2005 when the yuan's peg to the dollar was broken. It has strengthened by more than 30 per cent since and has gained 1.8 per cent so far this year. "China has a domestic crisis now. The regulators want to hold money in the country ... to prevent capital flight," said Andy Xie, an independent economist, who expected the currency to trade around the current level till the end of this year. In the offshore non-deliverable forwards market, which many analysts say gives the clearest view of where foreign investors believe the currency is headed, the yuan on a 12-month view has been trading at a discount of about 2.5 per cent to the onshore spot rate. The government kept the currency stable in 2008 in a bid to counter the global financial crisis. Now, said Xie, the regulators should continue to do so to counter a domestic economic slowdown. Some economists believe the central bank wants to send a signal by setting the reference rate at a strong level. "It could be a signal that Beijing wants to widen the trading band, as it mentioned earlier this year," said Liu Ligang, an economist at ANZ bank. "By pushing the currency to an unsustainable strong side, the PBOC intends to see it overshoot to the weak side pushed by market forces. It appears this policy move could be imminent," he said. The central bank increased the trading band to 1 per cent of either side of the reference rate from 0.5 per cent last year and the market has been expecting a further widening after a Communist Party plenary meeting in October. unilateral appreciation from RMB against USD still haunts in 2014,MORE latest videos about china bank financial system browse and subscribe channal at http://youtube.com/user/cosmeticmachinesa
IMF News Christine Lagarde Chinese Yuan SDR Inclusion
IMF News - Christine Lagarde Chinese Yuan SDR Inclusion March 24 2015 - http://globalcurrencyreset.net/imf-lagarde-china-yuan-sdr-inclusion/ March 20, 2015 - http://globalcurrencyreset.net/rmb-chinese-yuan-global-reserve-currency/ See my latest (long) article link above from March 24 to see everything. Christine Lagarde said not an issue of if, but when China's Yuan will be included in the SDR's official basket of currencies. https://www.facebook.com/theglobalcurrencyreset Discussions in this video: Devaluation and revaluation of the Chinese Yuan. Christine Lagarde from March 20, 2015 statement about not a question of if but when China’s currency is included in the basket of SDR currencies. http://www.cnbc.com/id/102522008# 1:00 China’s Currency is known as the Yuan, Renminbi, and abbreviated RMB 1:14 Standard Chartered Bank Hong Kong – International of the Chinese Currency Status as of February 2015 1:24 Document from Standard Chartered also IMF – 5 year review on China The desire that the Chinese Yuan gets included in the SDR alongside the dollar, euro, pound and yen 1:49 HSBC Hong Kong Shanghai Banking Corportation What happened in July 2005 with China’s Currency? What could happen in November of 2015? My Previous Video: China World Currency Announcement Bangkok Thailand https://www.youtube.com/watch?v=Q4hvXpfu8RU Standard China Bank https://www.sc.com/hk/ Timeline: 2:40 IMF SDR review - Christine Lagarde 3:20 70-85% majority vote for Chinese Yuan inclusion of SDR (Feb 2015) 3:50 China considers what they did a success 4:40 China Expanding Overseas - Oil Crude Futures 4:50 Endgame - Full Convertibility of the RMB (Yuan/Renminbi) China wants the world reserve currency 5:15 Bank of China prints Hong Kong dollars 5:45 China Free Trade Zones 6:00 Standard Chartered Bank 6:15 HSBC has not made an announcement yet about conve 6:30 Chinese Video about internationalization of the Chinese Yuan is rapidly progressing 6:50 Shanghai Pilot Free Trade Zone - Document April 2014 7:41 Christine Lagarde - It's not a matter of if but when Christine Lagarde was talking from Shanghai 8:00 Hong Kong Dollar Chinese Yuan Exchange Rate Revaluation 8:50 Chinese Yuan USD (United States Dollar) 9:50 IMF Press Release - IMF Determines New Currency Weights for SDR https://www.imf.org/external/np/sec/pr/2010/pr10434.htm IMF 2010 SDR 10:25 IMF informal meeting in May, would take effect in January of 2016 11:10 IMF Five Year Review on China 13:00 China is keeping their currency low now, they want it weak because it attracts investors 13:28 Free Newsletter Link for updates Christine Lagarde IMF News Regarding Chinese Yuan Inclusion In the SDR https://www.youtube.com/watch?v=acYBJM4nq8U
Views: 10471 Global Currency Reset
Why make the renminbi fall? | FT Comment
► Subscribe to the Financial Times on YouTube: http://bit.ly/FTimeSubs FT emerging markets editor James Kynge talks to Izabella Kaminska about the implications and motivations behind the increased flexibility of China's exchange rate mechanism. For more video content from the Financial Times, visit http://www.FT.com/video Twitter https://twitter.com/ftvideo Facebook https://www.facebook.com/financialtimes
Views: 2692 Financial Times
Fluctuation of Chinese Yuan against USD continues 10 consecutive days decline 人民币汇率8年来首次十連跌
Ten days in a row. The renminbi has been trading at fresh four-year lows all week and this morning the People’s Bank of China set the fix weaker again, adding to the pressure. The PBoC set the fix, or mid-rate around which the renminbi is allowed to trade each day, 0.09 per cent weaker at 6.4814 per dollar. The daily fix is now 5.97 per cent softer than where the renminbi was valued before the surprise mid-August “devaluation.” The onshore exchange rate for the renminbi fell 0.17 per cent on Thursday at 6.4837 per dollar, its weakest since July 2011. The tightly-controlled currency has now been allowed to fall for seven consecutive weeks, and last Friday the PBoC signalled its comfort with a depreciating currency by saying it would prefer to gauge the renminbi’s value against a basket of currencies rather than just the US dollar. CNH, the offshore exchange rate, fell 0.68 per cent on Thursday and extended the drop another 0.05 per cent in early Friday trading, to 6.5719 per dollar, its weakest since March 2011. That’s 1.36 per cent weaker than Thursday’s closing price for the onshore rate, indicating there is further market pressure for weakening. Fluctuation of Chinese Yuan against USD continues 10 consecutive days decline 人民币汇率8年来首次十連跌,for more information about china world news visit site at http://youtube.com/user/chinaworldnews visit site at http://penglaichina.com
RMB against USD plumbing probably pushes CNY in depreciation period Market International finanical
The Chinese yuan weakened against the US dollar in the Asian session on Wednesday. In the economic news, data from HSBC Bank showed that the services sector in China expanded at a slightly faster rate in November, with a PMI score of 53.0. That's up fractionally from 52.9 in October, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction. The composite index, which also factors in manufacturing data, also continued to expansion in November - albeit at a slower pace, falling to 51.1 from 51.7 in October. Against the greenback, the yuan fell to nearly a 3-month low of 6.1540 from an early high of 6.1326. At yesterday's close, the yuan was trading at 6.1495 against the greenback. If the yuan extends its downtrend, it is likely to find support around the 6.16 area. The People Bank of China set today's central parity rate for yuan at 6.1376 per dollar, compared to Tuesday's reference rate of 6.1325. The central bank sets the reference rate every morning and allows the currency to move upto 2% from that level. RMB against USD plumbing probably pushes CNY in depreciation period,for more information about china world news visit site at http://youtube.com/user/chinaworldnews as well as business website at http://penglaichina.com
China Incur Huge Exchange Losses
Follow us on TWITTER: http://twitter.com/cnforbiddennews Like us on FACEBOOK: http://www.facebook.com/chinaforbiddennews China's huge foreign exchange reserves continue to grow rapidly in recent years. Experts said the Central Bank's foreign exchange assets have incurred huge losses. It is imperative to divert them. Analysts believe RMB needs to be internationalized and freely exchanged. China's foreign currency policy and system have rendered Chinese people rather miserable. Zhang Anyuan, director of financial research in China's development and reform institute (NDRC) said, the loss of foreign exchange assets with the central bank is appallingly huge. Due to the exchange rate hike, as of the end of 2010, the Central Bank has lost US$271.1 billion over the past seven years. If future exchange rate of RMB to USD rose to six, the loss will climb up to 578.6 billion USD. Zhang Anyuan stressed the loss can't be covered by investment income. Except for the central bank as the "government purse", no institution will accept such commercial trading loss. He believes it's urgent to diversify foreign exchange reserves. Central bank data showed by the end of March, China's foreign exchange reserves reached 3,044.7 billion USD about 1/3 of global foreign exchange reserves. HK Oriental Daily published an article "Foreign Reserves Lost Two Trillion, Who Is Guilty?". As Zhang Anyuan calculated, China's foreign exchange reserves in past 7 years lost nearly two trillion yuan, about 1,400 yuan per capita. Chinese Authorities claimed no money to implement free medical care nationwide, which needs only 400 billion yuan, much less than the above loss. Sun Laixiang, professor in Department of Finance in Oriental and African Studies of Univ. of London, told BBC that China has no need to hold such huge foreign exchange reserves, authorities should change the highly centralized model, marketize RMB, and allow enterprises to have more management authority on it. High foreign exchange reserves make capital inflows and outflows contradictory. On one hand, economic development requires a lot of money from abroad; on the other hand, authorities increase foreign exchange reserves to "output" huge low-cost funds. According to China's foreign exchange policy, to export 1 dollar commodity, same value of RMB will be printed to balance it. In 2010, China's foreign exchange reserves was about 2.8 trillion USD, more than 18 trillion yuan were printed, equivalent to nearly 6-fold of 3.4 trillion market currency in circulation (M0) in 2008 . Economist Lang Xianping pointed out the huge amount of RMB balancing foreign exchange, were passed on to people as inflation, causing a sharp depreciation of currency, and sharp rise in prices. The resulting phenomenon is absurd that the more export and foreign exchange, the more miserable people are. Why is the CCP so 'stupid'? Why don』t the authorities "Return export income to the public to improve people's standard of living ", or "reduce exports, and leave more on domestic market"? Isn't it that the best solution? Critic Gao Zitan said on New Era magazine, as early as the CCP established its regime, it had a working-peasant "scissors difference" in price, to suppress agricultural products prices, exploiting farmers to support workers. Now it's "scissors difference" between domestic and international commodity prices. Exploit cheap labor, export cheap goods, along with its foreign policy, repeatedly plunder people's wealth. Gao Zitan said essentially 3 trillion foreign exchange reserves have become CCP's assets, people do not know its specific uses, let alone any decision on it. NTD reporters Li Qian and Li Ruolin 《神韵》2011世界巡演新亮点 http://www.ShenYunPerformingArts.org/
Views: 827 ChinaForbiddenNews
China and the Yuan-Dollar Exchange Rate  Case Solution & Analysis- TheCaseSolutions.com
https://www.thecasesolutions.com This Case Is About STRATEGY & EXECUTION Get Your CHINA AND THE YUAN-DOLLAR EXCHANGE RATE Case Solution at TheCaseSolutions.com TheCaseSolutions.com is the number 1 destination for getting the case studies analyzed. https://www.thecasesolutions.com/china-and-the-yuan-dollar-exchange-rate-2-46668
China's yuan joins U.S. dollar, pound, yen, euro as reserve currency
IMF, 中위안 SDR 바스켓 편입 발표…라가르드 "역사적 이정표" China's yuan has officially joined the elite club of reserve currencies,... marking a milestone for the Chinese government's campaign for recognition as a global economic power. The yuan on Saturday joined the U.S. dollar, the euro, the yen and British pound in the IMF's so-called "special drawing rights" or SDR basket, which determines currencies that countries can receive as part of IMF loans. The People's Bank of China hailed the inclusion,... saying it's an affirmation of the success of China's economic development and results of the reform and opening up of the financial sector. The bank added that China will use the opportunity to further deepen economic reforms and open up the sector to promote global growth. The IMF announced last year that it would add the yuan to the SDR basket, so the inclusion is not expected to shake up financial markets. Visit ‘Arirang News’ Official Pages Facebook(NEWS): http://www.facebook.com/newsarirang Homepage: http://www.arirang.com Facebook: http://www.facebook.com/arirangtv Twitter: http://twitter.com/arirangworld Instagram: http://instagram.com/arirangworld
Views: 1229 ARIRANG NEWS
Europe's First RMB Hub
Frankfurt will become Europe's first payments hub for the renminbi. Sebastien Galy, Societe Generale Keywords: RMB, Euro, USD, Frankfurt, London, Europe, hub, Renminbi, agreement, People's Bank of China, Germany, the Bundesbank, Bank of England, London, trading, payments, Asia, China, currency, trade, investment, economic relations
Views: 101 Dukascopy TV (EN)
Yuan devalues for second day
The Chinese Yuan has softened for a second consecutive day after the central bank reformed how the exchange rate is set to better reflect the market. The yuan's spot rate fell to 6.45 per dollar, after the People's Bank of China set its daily midpoint reference at 6.3306 against the US dollar on Wednesday, cut by 1.6 percent from the previous day. Subscribe to us on Youtube: https://www.youtube.com/user/CCTVNEWSbeijing Download for IOS: https://itunes.apple.com/us/app/cctvnews-app/id922456579?l=zh&ls=1&mt=8 Download for Android: https://play.google.com/store/apps/details?id=com.imib.cctv Follow us on: Facebook: https://www.facebook.com/cctvnewschina Twitter: https://twitter.com/CCTVNEWS Google+: https://plus.google.com/+CCTVNEWSbeijing Tumblr: http://cctvnews.tumblr.com/ Weibo: http://weibo.com/cctvnewsbeijing
Views: 415 CGTN
Onshore Versus Offshore RMB
Fran Rodilosso, Portfolio Manager, Fixed Income ETFs, explains the differences between onshore and offshore Renminbi and where he expects the currency to be headed in the future. “The main difference between the onshore and offshore trading of the RMB is that onshore RMB trading is highly restricted. For the most part, only certain onshore entities are allowed to engage in foreign exchange transactions on the onshore RMB.”
Views: 2004 VanEck
Rmb futures a Hong Kong "first"
Hong Kong Exchanges and Clearing is offering the world's first deliverable Rmb currency futures contracts from 17 September. The futures contract is based on the Rmb's exchange rate against the US dollar and should make Hong Kong the preferred Rmb offshore centre compared to others like Singapore and London with its global interaction, says Calvin Tai, HKEx's Trading Division Head. Related Links: HKEX media release - http://www.hkex.com.hk/eng/newsconsul/hkexnews/2012/120822news.htm Speaker: Calvin Tai, Head, Trading Division, HKEx
Views: 529 HKTDC
What is a Trillion Dollars in Yuan?
http://www.forexconspiracyreport.com/what-is-a-trillion-dollars-in-yuan/ What is a Trillion Dollars in Yuan? By www.ForexConspiracyReport.com According to the Investor’s Business Daily Chinese capital outflows reached $1 trillion last year. Which brings to mind what is a trillion dollars in Yuan? As exchange rates vary this number may go up or down but the current exchange rate is 6.5 Yuan to the US dollar so six and half trillion Yuan were converted to foreign currencies and fled China in 2015. China’s capital outflows jumped in December, with the estimated 2015 total reaching $1 trillion, underscoring the scale of the battle facing policymakers trying to hold up the yuan amid slower economic growth and slumping stocks. The entire year’s estimated trillion-dollar total was more than seven times 2014’s $134.3 billion, a record for Bloomberg Intelligence data dating back to 2006. In addition to capital exiting the economy, exporters are holding funds in dollars instead of converting them to yuan, said Tom Orlik, Bloomberg’s chief Asia economist in Beijing. “The immediate trigger for a pickup in capital outflows toward the end of the year was the People’s Bank of China’s poor communication over its shift in currency policy,” said Mark Williams, chief Asia economist for Capital Economics Ltd. in London, who previously worked on China issues at the U.K. Treasury. “Outflows are likely to remain strong because the People’s Bank still has not been able to generate confidence among investors that it knows what it’s doing or that it’s able to achieve its policy objectives.” As rich Chinese move their wealth offshore they sell Yuan and buy dollars, yen, euros or other currencies. And the Yuan goes down in value. A Year of USD/RNB Bloomberg Business has a graph that shows the last 12 months of USD/CNY exchange rates. A year ago a dollar got you 6.2 to 6.25 Yuan and as recently as a month ago the exchange rate was 6.59 Yuan to the dollar. It turns out that five years ago the exchange rate was about 6.5 Yuan to the dollar and the Yuan steadily fell to bottom out at 6.04 to the dollar at the end of 2013 as the USD rallied against all other currencies. Why Is Wealth Leaving China? The Wall Street Journal discusses China’s capital outflow quandary. As China’s foreign exchange hoard drops by hundred-billion-dollar chunks, a key question for economists and investors is what China’s bottom line is and what Beijing can do to defend it. China’s net foreign-exchange reserves have fallen by over $600 billion from their mid-2014 peak of $3.99 trillion as Beijing intervenes to prop up its weakening currency. China’s capital outflow was as much as $1 trillion last year by some estimates if trade surpluses and inbound investment flows are included. Some put Beijing’s red line at $3 trillion, which may not be far off if reserves fall another $200 billion by early March, as some forecast. China’s January figures are due out on Sunday. Trying to assess what Beijing is thinking takes on added importance as China’s problems batter global markets, commodity producers and confidence. China’s central bank and foreign exchange watchdog didn’t immediately respond to questions. Whether Beijing can stem the outflow soon is an open question. Economists say Beijing is working particularly hard to keep ordinary households from losing confidence in the yuan. The problem for China is that a falling Yuan is a self-fulfilling prophecy. Wealthy Chinese take money out of the country because they fear that the currency will devalue as the economy weakens and by their actions cause both a weaker currency and a cheaper Yuan. https://youtu.be/SHysuz_cI0I
Views: 278 ForexConspiracy
rmb to usd
rmb to usd Watch my video rmb to usd and learn how to convert Chinese Yuan Renminbi (CNY) currency and USA dollar (USD). Chinese Yuan Renminbi (CNY) = The yuan (元/圆) (sign: ¥) The distinction between the terms "renminbi" and "yuan" is similar to that between sterling and pound USA dollar (sign: $; code: USD; also abbreviated US$ XE online currency converter and calculator rmb to usd Contact: Christos Pittis website: www.christospittis.com https://www.udemy.com/u/christospittis/ twitter: https://twitter.com/CPITTIS facebook page: https://www.facebook.com/christoscpittis email: [email protected] https://www.udemy.com/u/christospittis/ YouTube: https://www.youtube.com/channel/UClqulZeiMIfgPv_LirylA0g/videos
Will the RMB Match the US Dollar?
Follow us on TWITTER: http://twitter.com/cnforbiddennews Like us on FACEBOOK: http://www.facebook.com/chinaforbiddennews This is the first time third quarter Chinese currency trade settlement amounts took a down turn. Although this news is somewhat unexpected, it is still reasonable. Data shows that behind the Chinese currency RMB trade settlement's development lays rampant arbitrage in mainland companies, with foreign companies being less involved. Expert analysts believe that it is impossible for the RMB to match the U.S. dollar over the next five to 10 years. U.S.-China Economic and Security Review Commission (USCC) warns in a November report that the RMB could threaten the U.S. dollar's dominance in five to 10 years. Xie Tian, a professor at the Aiken School of Business of the University of South Carolina, said that the U.S. often warns itself. The USCC reminds U.S. policymakers from the worst angle, that is, their assumptions are based on two things: China sustaining a 10 percent annual growth rate and some of its own calculated guesses being calculated right. Xie Tian: "If the RMB could threaten the U.S. dollar, firstly, the RMB must be a freely circulating currency, if not, no one will want it as a reserve currency; secondly, no one is willing to accept a currency that is manipulated by a government. If the CCP regime can easily control and change the exchange rate, why is it necessary for other countries to put their national wealth in the hands of another country?" The People's Bank of China recently reported that the 3rd quarter of total cross-border trade in RMB has dropped slightly, which is the first decline since June 2009, when China launched related test projects. The U.K.'s Financial Times first reported in January that the main reason for the RMB trade settlement boom is that mainland companies are trading with their Hong Kong subsidiary companies, attempting to arbitrage between the two markets. Bankers said that third-quarter arbitrage activity has decreased, leading to a decrease in RMB trade settlement. According to data from Swift, a global payment system, 80% of cross-border RMB payments relate to Hong Kong. During RMB cross-border payment transactions, only 8% is the "real publicised," figure, meaning, the bulk of trade transactions are from the mainland and outside of Hong Kong. According to Xie Tian's analysis, China's real outsider small RMB settlements are mainly from Vietnam and Russia and some other small border transactions. Xie Tian: "Because China's financial market is facing great pressure, one is the internationalization push; another one is that the capital flight out of China, and the fact that there are no major multinational companies using the RMB in trade, except Russia and Vietnam. The RMB cannot become the international currency of choice in one or two years." An executive from one of the world's largest banks said that at the moment there are almost no multinational companies trading in the RMB. He said that foreign companies make use of U.S. dollars, and shun the RMB due to its complexity. Xie Tian believes that China's economy is possibly out of control and will face a serious crises in five years. Thus, the target of having the RMB replace the U.S. dollar as the world reserve currency moves further and further away. The USCC also reported that the Chinese Communist Party (CCP) is continuing to intervene in China's domestic economy, They provide subsidies and protection to state-owned companies, they force foreign investors to transfer their technology to China, and only open up government procurement to national enterprises. The CCP still controls the flow of a large amount of cross-border capital. Meanwhile, it continues to intervene in currency markets in order to hold down the RMB exchange rate. In Washington, the RMB issue has once again become the most important political issue on the U.S. government's agenda. In October, the U.S. Senate passed a bill allowing the United States to underestimate the margin of exchange rate according to estimation, in order to impose retaliatory tariffs on China's export production to the United States. President Obama's administration officials, including U.S. Trade Representative Ron Kirk and Commerce Secretary John Bryson, will be attending the U.S.-China Joint Commission on Commerce and Trade meeting this weekend. This is the main forum for the two governments to hold bilateral negotiations on related matters. NTD reporters Liu Hui and Wang Mingyu
Views: 454 ChinaForbiddenNews

dating sites free browsing
signs you're dating someone with borderline personality disorder
3 methods of dating fossils
berlin dating site english
dating asian guys uk