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China to Open Use of Yuan by Foreign Investors

Posted August 24th, 2011 at 4:00 am (UTC-5)
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China has drafted guidelines that will allow its currency to be used for foreign direct investment in the world’s second-largest economy. The guidelines drafted by the Commerce Ministry would let foreign investors use yuan raised through cross-border trade settlements, offshore bond issues or share sales. The ministry is accepting public feedback on the guidelines until […]

Chinese Media Signal Interest in Currency Reform

Posted August 16th, 2011 at 1:30 am (UTC-5)
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Chinese state media are signaling an interest in allowing China’s currency to rise more rapidly against the dollar. A front-page editorial in the government-run China Securities Journal said Tuesday the time is right for Beijing to widen the trading range of the yuan in order to help combat inflation. The widely read China Daily, meanwhile, […]

Tags: , Posted in East Asia Pacific

Chinese Currency Hits Record High Amid Inflation Fears

Posted August 11th, 2011 at 12:20 am (UTC-5)
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China’s currency rose to record highs on Thursday as the nation’s central bank addresses rising inflation and the promise of continued loose money policies in the United States. China’s yuan was trading at less than 6.4 to the dollar for the first time since a landmark re-evaluation 17 years ago. That marks a rise of […]

Burma Seeks IMF Help to Modernize Currency Exchange System

Posted August 9th, 2011 at 7:05 am (UTC-5)
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Burmese media say the government has asked the International Monetary Fund to help it reform a complex foreign exchange system that has become a barrier to economic growth. IMF officials confirmed to Reuters news agency this week that a team will travel to Burma in the second half of October to assist in the reforms. […]

Burma Seeks IMF Help to Modernize Currency Exchange System

Posted August 9th, 2011 at 6:10 am (UTC-5)
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Burma’s state-controlled media say the government has asked the International Monetary Fund to help it reform a complex foreign exchange system that has become a barrier to economic growth. IMF officials confirmed to Reuters news agency this week that a team will travel to Burma in the second half of October to assist in the […]

Tags: , Posted in East Asia Pacific

Japan Intervenes in Markets to Drive Down Yen

Posted August 4th, 2011 at 4:05 am (UTC-5)
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Japan intervened in currency markets Thursday, driving down the yen by more than 3 percent in an effort to shore up its export sector. Finance Minister Yoshihiko Noda said Japan’s recovery from its twin disasters was threatened by the rise of the yen, which was approaching a post-World War Two high. That record was set […]

Japan Intervenes to Curb Rising Yen

Posted August 3rd, 2011 at 11:15 pm (UTC-5)
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Japan intervened in currency markets Thursday to drive down the yen. Finance Minister Yoshihiko Noda said the country’s fragile recovery from its twin disasters was threatened by the rise of the yen, which was approaching a post-World War Two high set immediately after the March 11 earthquake and tsunami. Other leading economic powers joined with […]

Tags: , Posted in East Asia Pacific

Sudan Launches New Currency

Posted July 24th, 2011 at 12:55 pm (UTC-5)
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Sudan’s central bank began circulating a new currency Sunday, less than a week after newly-independent South Sudan did the same. The new Sudanese pound is similar to the old one but the bills are different colors and have been stripped of symbols representing the south. The old Sudanese pound has plunged in value this year […]

Tags: , Posted in Africa

Sudan Central Bank: New Currency to be Circulated This Month

Posted July 16th, 2011 at 9:55 am (UTC-5)
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Sudan’s central bank says it will begin circulating its new currency later this month. Central Bank chief Mohamed Kheir al-Zubeir told reporters in Khartoum Saturday it would likely take two to three months for the old currency to be completely replaced. Al-Zubeir said the government decided to issue the new money as a “precautionary measure” […]

Tags: , Posted in Africa

Sudan to Issue New Currency After Split With South

Posted July 12th, 2011 at 9:50 am (UTC-5)
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Sudan’s president says the country will issue a new currency following its split with South Sudan last week. President Omar al-Bashir announced the plan during an address to the National Assembly in Khartoum on Tuesday. South Sudan declared its independence on Saturday and on Monday announced plans to introduce its own currency. The new South […]

Tags: , Posted in Africa, Economy

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