BEIJING, Oct 3- China is studying plans to curb currency speculation even as it seeks to quicken the process of making the yuan trade freely, a deputy central bank governor said. Beijing will further open up its capital markets and develop its foreign exchange market as it aims to "accelerate the renminbi convertibility on the capital account," Yi Gang wrote in an...» Read More
*Annual limit at 100,000 yuan, daily limit at 10,000 yuan. BEIJING, Sept 30- China will introduce an annual cap of 100,000 yuan on cash withdrawals made through UnionPay cards outside the country from 2016, the nation's foreign exchange regulator said, to combat money laundering amid concerns about capital flight. Cards issued by Visa Inc and MasterCard Inc will...
SHANGHAI, Sept 30- China's yuan firmed against dollar both onshore and offshore on Wednesday as demand for the currency soared ahead of a week-long holiday, traders said. China's central bank intervened in trading partly to converge the spread between the two markets, they added. The onshore market in Shanghai will be closed for one week starting on Thursday for...
BEIJING, Sept 30- China will continue to see a surplus in the country's current account but will post deficits in the capital and financial accounts in the second half of 2015, the foreign exchange regulator said on Wednesday. The State Administration of Foreign Exchange said in a statement published on its website that it would keep the yuan basically stable...
The yen and Swiss franc were the winners on Tuesday as risk aversion swept global markets, underpinning flows into safe haven currencies.
SHANGHAI, Sept 29- China's yuan inched up against the dollar on Tuesday after the central bank set a firmer midpoint and was also suspected of selling dollars via state banks to support the Chinese currency, traders said. The People's Bank of China set the midpoint rate at 6.366 per dollar prior to market open, 0.11 percent firmer than the previous fix at 6.3729.
SHANGHAI, Sept 28- China's yuan edged up against the dollar on Monday after the central bank set a firmer midpoint and banks sold dollars partly to meet local currency liquidity demand ahead of a long holiday. "Some banks also sold dollars to avoid risk of the potential of dollar weakness during the long break," said a trader at a Chinese commercial bank in Shanghai.
The Chinese yuan could weaken to 6.55 against the dollar by year-end due to the impact of the strong exchange rate on inflation and profits, says Roy Teo, Senior FX Strategist at ABN Amro.
The fact that industrial profits remained weak in August after a series of support measures from Beijing is worrying, notes Ronald Wan, Chief Executive of Investment Banking at Partners Capital International.
The dollar rallied after U.S. Federal Reserve Chair Janet Yellen left the door open to a hike in interest rates later this year.
SHANGHAI, Sept 25- China's yuan firmed on Friday as dollar demand dropped after officials repeatedly said that there was no basis for the Chinese currency to depreciate in the long run. The yuan is set to weaken 0.2 percent for the week if it closes at the midday level, as the People's Bank of China has eased off from intervening in trading, they said.
Hot money may be flowing out of China's markets amid a persistent economic slowdown, but slower moving institutional money is taking a longer view.
The U.S. dollar extended its decline against the euro on Thursday.
Jeremy Stretch, head of FX strategy at CIBC, says the rally in the U.S. dollar may hit some speed bumps after the Fed unveils its first interest-rate rise.
Benjamin Pedley, head of investment strategy, Asia at HSBC, explains the "slight misconception" that the U.S. has toward China's currency devaluation on August 11.
On the numbers, China's cinema-goers look like a sure bet, but investors may need to look under the hood.
Paul Pong, managing director of Pegasus Fund Managers, likes military stocks because China will likely increase its military budget. He also thinks the 'One belt, one road' initiative will lift sectors such as infrastructure.
The dollar slipped against the euro on Wednesday after Mario Draghi said the ECB needed more time to assess whether to boost QE.
Gina Sanchez, chairwoman & founder of Chantico Global, discusses China's recent comments on the yuan devaluation.
The dollar hit an almost two-week high after comments from Fed officials revived expectations of a U.S. interest rate hike this year.
The Brazilian real hit a new all-time low on Tuesday after authorities announced a massive austerity package at a time when the economy is shrinking fast.