The Indian rupee continued to weaken on Thursday, falling to a new record low against the dollar for the fourth straight day. In early trading, the rupee stood at just over 54 against the dollar. The Indian currency has lost nearly 20 percent of its value since July. The decline has mainly been triggered by […]
Indian Rupee Falls to New Low Against Dollar
Posted December 15th, 2011 at 3:05 am (UTC-5)
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China Insists Upon Stable Exchange Rate for Yuan
Posted October 15th, 2011 at 12:15 pm (UTC-5)
Beijing is signaling it will not give in to U.S. pressure to allow the value of China’s currency to rise. Chinese media quoted Premier Wen Jiabao Saturday as saying Beijing favors “a basically stable exchange rate” in order to protect Chinese exporters. The Chinese leader has been attending an import and export fair in the […]
US Senate Postpones China Currency Bill Vote
Posted October 6th, 2011 at 9:20 pm (UTC-5)
The U.S. Senate has postponed its final vote on a bill intended to retaliate against China’s alleged currency manipulation. The bill is now set for a likely vote on Tuesday, and is expected to pass with bipartisan support. The measure, however, faces stronger opposition in the House of Representatives, where Republicans are in charge. Earlier […]
China Currency Bill Advances In US Senate
Posted October 6th, 2011 at 12:20 pm (UTC-5)
U.S. President Barack Obama says China has been “gaming” the international trading system by intervening in the foreign exchange markets to make its currency cheaper. He says the action hurts U.S. companies by making their goods more expensive in China and giving Chinese-made goods a price advantage on U.S. markets. Mr. Obama spoke Thursday in […]
US House Speaker Opposes China Currency Bill
Posted October 5th, 2011 at 12:25 am (UTC-5)
U.S. House Speaker John Boehner has expressed his strong opposition to legislation aimed at punishing China for undervaluing its currency. The leader of the Republican-led House told reporters Tuesday it is “pretty dangerous” to promote a bill forcing a nation to deal with the value of its currency, and beyond the scope of the U.S. […]
China Denounces US Bill to Punish Currency Manipulators
Posted October 4th, 2011 at 12:45 am (UTC-5)
China is warning of serious disruptions in U.S.-China trade ties if the U.S. Senate goes ahead with a measure to punish Beijing for undervaluing its currency. Senate members voted late Monday to proceed with the bill, setting the stage for several days of debate before it comes to a vote. If the bill becomes law, […]
US Senate Advances Measure On China Currency
Posted October 3rd, 2011 at 10:30 pm (UTC-5)
The U.S. Senate has voted to formally consider a bill that would punish China for allegedly undervaluing its currency. A motion to move forward with the bill easily won enough votes Monday evening. Lawmakers now will likely spend days debating the measure before a final vote is taken. The bill has bipartisan support, but it […]
US Senate Advances Measure On China Currency
Posted October 3rd, 2011 at 6:50 pm (UTC-5)
The U.S. Senate has voted to formally consider a bill that would punish China for allegedly undervaluing its currency. A motion to move forward with the bill easily won enough votes Monday evening. Lawmakers now will likely spend days debating the measure before a final vote is taken. The bill has bipartisan support, but it […]
Senators Propose Bill Against Chinese Currency Manipulation
Posted September 22nd, 2011 at 6:46 pm (UTC-5)
A bipartisan group of U.S. Senators introduced a bill Thursday taking action against China for undervaluing its currency, the yuan. One of the sponsors, Democrat Sherrod Brown of Ohio, calls it “cheating” when China and others manipulate their currency and keep prices of their exports artificially low on world markets. The Senate bill would require […]
Senators Propose Bill Against Chinese Currency Manipulation
Posted September 22nd, 2011 at 5:09 pm (UTC-5)
A bipartisan group of U.S. Senators introduced a bill Thursday taking action against China for undervaluing its currency, the yuan. One of the sponsors, Democrat Sherrod Brown of Ohio, calls it “cheating” when China and others manipulate their currency and keep prices of their exports artificially low on world markets. The Senate bill would require […]
