Chinese renminbi (RMB)
Cross-currency letters of credit gaining popularity in Asia
Divergent central bank policies see CNH LCs increasingly used to cover USD invoices
Trends in reserve management 2024: survey results
Insights on geopolitical risk, AI, asset diversification, risk management and ESG adoption
Four foreign banks tap into digital yuan market
Standard Chartered and HSBC enable clients in mainland China to access e-CNY services
China and Saudi Arabia set up currency swap line
Three-year swap line will provide liquidity to both sides of up to $6.98 billion
Digital yuan used to settle crude oil trade
Chinese oil company Petro China reportedly bought one million barrels of crude oil in digital yuan
China sets up renminbi clearing bank in Laos
New currency clearing arrangement is China’s fifth in South-east Asia
Hong Kong has no plans to change US dollar peg, says HKMA chief
Eddie Yue says the linked exchange rate system has served the city well
Myanmar official says Mir payments will launch in October
Central bank leader had predicted the Russian card would start circulating last year
Algeria is applying to join Brics bank, says president
Country joins Argentina and Honduras on list of applicants
Argentina increases use of Chinese currency
Authorities repay IMF in renminbi, and allow it for local current and savings accounts
Two major lenders tighten limits on Russian transactions
Raiffeisen stops euro payments to Russia, and Bank of China stops yuan payments from Russia
Hong Kong launches HKD-RMB dual trading counters
Offshore investors now have the option to trade 24 RMB-denominated stocks in Hong Kong
Argentina applying to join New Development Bank
China renews 130 billion yuan swap line with Latin American country
Saudi Arabia in talks to join Brics bank
Gulf state would join as Shanghai-based lender increases non-dollar operations
Argentina orders 1,000bp rate hike as peso struggles
Central bank tightens for second time in a week
PBoC has ‘by and large’ ended FX intervention, says governor
But Yi Gang declines to give a timeline for full renminbi convertibility
China and Brazil set up infrastructure for renminbi clearing
Move comes as renminbi overtakes euro as Brazil’s second largest reserve currency
PBoC swap lines now key international bailout tool
Researchers say PBoC extended support worth billions of dollars to Belt and Road countries
Argentina activates Chinese swap lines
Central bank says move will boost reserves but observer says it is unlikely to strengthen peso
The rise of non-SDR currency reserves
New Cofer data release may show an overall fall in FX reserves, writes Gary Smith
Renminbi in central banking focus report 2022
This year’s report looks more closely at the effect of inflation and the new free trade agreement among Asia-Pacific nations on parts of the SDR formula, with a focus on the renminbi’s share of central bank reserves.