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Renminbi Series

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Over the past decade, China has emerged as global superpower of economics and Geo-politics. Chinese currency Yuan has emerged as top contender to Challenge global dominance of Dollar. This year in Yuan might join International Monetary Fund’s (IMF) Special Drawing Rights (SDR) basket, strengthening Yuan’s position as global reserve currency. In this series, we discuss about China, its politics, economics, and vulnerabilities with a view of Renminbi.

Renminbi Series

Renminbi Series: HIBOR just shy of record high

Jan 06, 2017 06:46 am UTC| Commentary Central Banks

Hong Kong Interbank Offered Rate (HIBOR), which is the cost of borrowing yuan for overnight loans reached the highest level since January last year, when it spiked to 66.815 percent. On Wednesday, HIBOR was at 16.95...

Renminbi Series

Renminbi Series: Yuan skyrockets amid Highest HIBOR in 12 months

Jan 05, 2017 09:01 am UTC| Commentary Central Banks

Chinese yuan is skyrocketing for asecond consecutive day after registering the biggest single-day rise since last January against the dollar as the Peoples Bank of China (PBoC) drains liquidity from the interbank space...

Renminbi Series

Renminbi Series: Impossible trinity set to push interest rates higher and yuan lower

Jan 04, 2017 10:16 am UTC| Commentary Economy Central Banks

The Impossible trinity (also known as the Trilemma) is a trilemma in international economics which states that it is impossible to have all three of the following at the same time: a fixed foreign exchange rate, free...

Renminbi Series

FxWirePro: USD/CNY exhibits range bound movement; PBOC sets yuan mid-point at 6.9526

Jan 04, 2017 08:41 am UTC| Technicals

USD/CNY is currently trading around 6.9481 marks. It made intraday high at 6.9615 and low at 6.9293 levels. Intraday bias remains neutral for the moment. A sustained close above 6.96 marks will test key...

Renminbi Series

Renminbi Series: Bitcoin mania in China

Jan 02, 2017 09:20 am UTC| Commentary Economy

Bitcoin, the most popular cryptocurrency has opened with a bang in China reaching 7300 yuan per Bitcoin, the highest level since 2013, when it reached an all-time high of 7589 yuan per Bitcoin (BTC). Since January 2015,...

Renminbi Series

Renminbi Series: 11 New Currencies In The Basket

Jan 02, 2017 08:08 am UTC| Commentary Economy

In December 2015, to reduce the influence of the dollar in measuring the value of the yuan, Chinese monetary and foreign exchange authority introduced the Renminbi index or CFETS RMB index, which is the value of the yuan...

Renminbi Series

Renminbi Series: Paperwork vs. Forex Quota Reset

Jan 02, 2017 06:46 am UTC| Commentary Economy

Effective January 1st 2017, Chinas foreign exchange regulator stepped up its scrutiny on individual foreign exchange purchases, a move that is aimed to fight the historic decline of the yuan against the dollar, which has...

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Economy

Beyond the spin, beyond the handouts, here’s how to get a handle on what’s really happening on budget night

Three weeks from now, some of us will be presented with a mountain of budget papers, and just about all of us will get to hear about them on radio, TV or news websites on budget night. The quickest way to find out what...

Johannesburg in a time of darkness: Ivan Vladislavić’s new memoir reminds us of the city’s fragility

Ivan Vladislavić is Johannesburgs literary linkman. He tells us, in the first pages of his new book, The Near North, that before cities were lit, first by gaslight and later electricity, people of means paid torchbearers...

Economist Chris Richardson on an ‘ugly’ inflation result and the coming budget

With Jim Chalmerss third budget on May 14, Australians will be looking for some more cost-of-living relief beyond the tax cuts although they have been warned extra measures will be modest. As this weeks consumer price...

Inflation is slowly falling, while student debt is climbing: 6 graphs that explain today’s CPI

Australias inflation rate has fallen for the fifth successive quarter, and its now less than half of what it was back in late 2022. The annual rate peaked at 7.8% in the December quarter of 2022 and is now just 3.6%, in...

The Mattei Plan: why Giorgia Meloni is looking to Africa

Since coming to power, Giorgia Melonis government has been remarkably orthodox in its foreign policy. Unwavering support for Ukraine, loyalty to the Atlantic Alliance and full participation in the European Union - these...

Politics

Labour can afford to be far more ambitious with its economic policies – voters are on board

To say that the Labour party is flying high in the polls is something of an understatement. But despite its consistent lead against the Tories, the opposition finds itself in a rather odd position: on the cusp of power but...

History for sale: what does South Africa’s struggle heritage mean after 30 years of democracy?

One of my favourite statues is the one of Nelson Mandela at the Sandton City shopping centre in Johannesburg. Larger than life, its oversized bronze shoes shimmer in the evening light, polished by the hands of many...

Sudan: civil war stretches into a second year with no end in sight

In the early hours of April 15 2023, the Rapid Support Forces (RSF) a Sudanese paramilitary force attacked the military airstrip in the town of Merowe and deployed troops across strategic locations in Sudans capital,...

Military conscription is returning to Europe, but is it really a more equal way of mobilising? What history tells us

The idea that conscription, defined as the compulsory enlistment of citizens for military service, can increase equality and instil a sense of solidarity that transcends traditional societal divides has echoed throughout...

The 50th anniversary of Portugal’s Carnation Revolution

Across Portugal, a number of photography exhibitions are currently on display that commemorate the ousting of the Estado Novo, the dictatorial, authoritarian and corporatist political regime that had ruled the country...

Science

A Nasa rover has reached a promising place to search for fossilised life on Mars

While we go about our daily lives on Earth, a nuclear-powered robot the size of a small car is trundling around Mars looking for fossils. Unlike its predecessor Curiosity, Nasas Perseverance rover is explicitly intended to...

The rising flood of space junk is a risk to us on Earth – and governments are on the hook

A piece of space junk recently crashed through the roof and floor of a mans home in Florida. Nasa later confirmed that the object had come from unwanted hardware released from the international space station. The 700g,...

Peter Higgs was one of the greats of particle physics. He transformed what we know about the building blocks of the universe

Peter Higgs, who gave his name to the subatomic particle known as the Higgs boson, has died aged 94. He was always a modest man, especially when considering that he was one of the greats of particle physics the area of...

Could a telescope ever see the beginning of time? An astronomer explains

The James Webb Space Telescope, or JWST for short, is one of the most advanced telescopes ever built. Planning for JWST began over 25 years ago, and construction efforts spanned over a decade. It was launched into space on...

US media coverage of new science less likely to mention researchers with African and East Asian names

When one Chinese national recently petitioned the U.S. Citizenship and Immigration Services to become a permanent resident, he thought his chances were pretty good. As an accomplished biologist, he figured that news...

Technology

Casio Joins NFT Trend with Astar zkEVM, Unveils Anniversary Collection

Casio, one of the worlds leading watch companies, has joined the battle for non-fungible tokens (NFTs) in partnership with Astars zero-knowledge Ethereum Virtual Machine. The Casio watch NFTs will go online on May...

Tron's Justin Sun Boosts Dogecoin, Shiba Inu at Token 2049 Conference

At the Token 2049 conference, Tron founder Justin Sun endorsed popular meme coins like Dogecoin and Shiba Inu, emphasizing their pivotal distinction from traditional finance and celebrating their community-driven...

Bitcoin Dips 11% Post-Halving: Unexpected Decline Shocks Investors

Bitcoins price has unexpectedly fallen by 11% since the halving on April 20, stirring concerns among investors hoping for a post-halving surge. According to CoinGecko, Bitcoin dropped below $57,000 on May...

South Korea Pledges 5-Year Boost in Console Gaming Market Share

With an eye toward reducing dependence on mobile platforms, South Koreas government laid out a five-year plan Wednesday to bolster its console gaming sector, which currently represents a mere 1.5% of the global...

Transaction Fees on Shiba Inu’s Shibarium Skyrocket by 500%

Shibarium, the dedicated blockchain for the Shiba Inu cryptocurrency, has seen transaction fees escalate dramatically, with a 500% increase recorded over the last day, signaling a surge in user activity and market...