Yuan use for trade deals growing despite volatility, interventions
Attractiveness of arbitrage activities a key factor behind rise in transactions settled in the currency
Hong Kong
MORE China trade is expected to be settled in yuan this year despite concerns about its cooling economy and fears that the currency could weaken further.
Heavy interventions by the central bank in recent months to steady the currency and deter speculators have raised questions about China's foreign exchange policy and threatened to slow Beijing's steady push to internationalise the "redback".
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Stormy Daniels’ ex-lawyer in the hot seat at Trump trial
New Zealand says ‘seriously concerned’ by China’s increased security actions in Pacific
EU, ISSB agree on minimising overlaps in company climate disclosures
US law firm Mayer Brown to split from Hong Kong partnership
US labour costs rise by most in a year as productivity cools
US trade deficit narrows slightly in March