Chinese renminbi (RMB)
Gold should dominate RMB in central bank reserves, says WGC
World Gold Council encourages central banks – particularly in emerging market economies – to diversify into gold ahead of RMB and other ‘alternative’ currencies
Bank of Finland highlights ‘astonishing’ lack of information on Chinese government debt
Researcher warns opaque debt statistics are to China’s detriment and could threaten renminbi internationalisation; urges government to begin politically difficult process of improving transparency
Renminbi internationalisation to get boost from 60m overseas Chinese
Use of the renminbi by the 60-million strong Chinese diaspora will accelerate the currency’s use in global trade and reserves management. By Gary Smith.
Fijian governor hails launch of renminbi currency exchange
Barry Whiteside says currency exchange will boost trade between Fiji and China, which has recently dislodged Japan to become Fiji's fifth largest trading partner
King and Zhou prepare ground for renminbi-sterling swap line
Governors discuss establishment of a currency swap arrangement between UK and China, with a final agreement expected to be signed ‘shortly’
BoE and PBoC potential swap line met with optimism
Bank of England executive director announces willingness to create swap line with People’s Bank of China; currency strategists see little immediate impact but potential for growth
PBoC statistics show rapid increase in renminbi trade
Efforts made by the People’s Bank of China to promote renminbi internationalisation start to pay off, as cross-border trade in local currency increases 41% in 2012
Bank of England must promote RMB trading, warns Chinese official
A swap line between the central banks of the UK and China would be a key step towards the growth of offshore renminbi, a former official of the People's Bank of China said yesterday
Conundrum facing reserve managers set to continue, say Nalm speakers
Central bank reserve managers to face further challenges about where to allocate their resources as reserve levels look set grow
Greater use of renminbi will promote global stability, says Malaysia’s Zeti
China’s rising prominence in the global economy requires a dynamic response from policy-makers, says Bank Negara Malaysia governor; use of renminbi will promote global financial stability
HKMA deputy dismisses yuan competition fears
Competition in the offshore renminbi market offers opportunities that can be exploited to increase Hong Kong’s share of the market, says Eddie Yue
HKMA moves to improve retail payments system
Hong Kong unveils a three-pronged approach to improve payments system; targets transfers denominated in renminbi as well as the Hong Kong dollar
Single Asian currency not on the agenda, says Bank of Thailand chief
Bank of Thailand governor Prasarn Trairatvorakul rules out likelihood of Asia moving towards a common currency, but says renminbi may become dominant currency
The beginning of the end for renminbi internationalisation?
The People’s Bank of China has surprised market watchers by taking critical steps to liberalise the renminbi and interest rate policy in the country
HKMA re-appoints Standard Chartered as euro settlement institution
Standard Chartered Bank given a third five-year contract to run the euro real-time gross settlement system in Hong Kong; commended for operating the system “smoothly and effectively” since 2003
China hints at policy adjustments to support economy
People's Bank of China pledges to strengthen the 'fine-tuning' of monetary policy in the country; latest indication of growing anxiety over slowing economy
Indonesia enters China interbank bond market
Bank Indonesia and People's Bank of China reach agreement allowing Indonesian central bank access to China's interbank bond market; part of Chinese strategy towards internationalisation of the yuan
China moves to promote offshore renminbi trade
HKMA welcomes new Chinese government measures to support growth of offshore renminbi business in Hong Kong; central banks buy $315 million of offshore renminbi bonds
Brazil and China agree currency swap and deepen cooperation
Central Bank of Brazil announces agreement with China Banking Regulatory Commission to enhance exchange of information; governments agree to currency swap
‘Not clear’ China wants renminbi to rival dollar, says CIC’s Lau
China is pushing for the renminbi to be used more widely in commerce and finance but it is unclear if Beijing wants its currency to rival the US dollar and euro, says CIC’s Lawrence Lau
HKMA deputy on Hong Kong as centre of renminbi growth
Eddie Yue, deputy chief executive of the Hong Kong Monetary Authority, describes rapid growth of renminbi as international currency; emphasises central role of Hong Kong in renminbi trade
IMF paper discusses renminbi internationalisation
Working paper considers historical conditions leading to international use of currencies; finds that conditions in China suggest gradual internationalisation of renminbi
Renminbi to shake up the reserves management status quo
China is unlikely to fully liberalise its currency controls during the next five years. But this does not look set to prevent the renminbi from achieving full reserve currency status. By Gary Smith
Chan highlights ‘strong business case’ for renminbi use
Norman Chan tells a conference in Tokyo that payments in renminbi can increase the efficiency of growing trade activity between Japan and China