Home / currency / China Doubles Down on Defending Its Currency

China Doubles Down on Defending Its Currency

collected by :Donald Luther

follow the latest news and price to oil from different sites most famous technicals /Tim Worstall by 2017-01-07 at 16:10

referring to

Currency Reserves Drop As China Manipulates Yuan Up In Value

Currency Reserves Drop As China Manipulates Yuan Up In Value*/

Best States For Business 2016One of the standard talking points of Donald Trump and some others on the American right is that China is a currency manipulator.The argument goes that China uses the dollars earned from exports to purchase American bonds, or perhaps just stores the currency, this means that the yuan is cheaper than it should be.That, in turn, means that Chinese exports to America are cheaper and that’s how the American economy gets screwed.
.

read more from here

China Doubles Down on Defending Its Currency

China Doubles Down on Defending Its Currency*/

HONG KONG—China continued to squeeze the global market for the yuan Friday, sending the cost of borrowing the currency in overseas markets soaring to a near-record high.Investors and analysts say the nosebleed rates are likely to continue as China’s central bank battles to keep the country’s currency from weakening too far and fast.
.

read more from here

China Said to Boost Scrutiny of Foreign Currency Purchases

China Said to Boost Scrutiny of Foreign Currency Purchases*/

China plans to step up its monitoring of how citizens use their annual quota for changing yuan into foreign currencies, according to four people familiar with the matter.The State Administration of Foreign Exchange will require extra documentation for people seeking to sell yuan from Jan. 1, while keeping each person’s annual $50,000 allowance unchanged, said the people, who asked not to be identified as they’re not allowed to speak publicly.Banks will be asked to increase scrutiny of transactions, they said.
.

read more from here

read more
visit us
currency

About finance market

Avatar for finance market

Check Also

Bitcoin drops to three week down on profit income picture-13162-300x165

Bitcoin drops to three-week down on profit income

collected by :Donald Luther Under a “hard fork”, Bitmain would create an entirely new version …