The International Monetary Fund (IMF) has announced that it will be adding the Chinese yuan to its reserve currencies. The decision shows that China has taken major strides in incorporating itself into an economic system […]
Tag: Yuan
China Is Tightening The Reigns On Underground Banking To Save Yuan Value
Since last April, China has been cracking down on underground banks. So far, more than 170 cases of illegal fund transfers and money laundering involving more than $125 billion have been discovered in the investigations. […]
Chinese Yuan Looks Set To Join The IMF’s Currency Big Boys
An International Monetary Fund (IMF) spokesperson says his organization’s executive board will meet next month to decide if the yuan will join the U.S dollar, Japanese yen, the English pound and the euro as its […]
China Raises Currency War Fears After Another Surprise Yuan Devaluation
In a surprising move, China has again this week moved to devalue its currency, the yuan. First acting on Tuesday in a nearly 2% devaluation, and again Wednesday with a devaluation of 1.6%, the government […]