Renminbi - updates

Rappler's latest stories on Renminbi


China will not devalue renminbi to spur exports – central bank chief

Mar 10, 2019 - 5:36 PM

'We will never use the exchange rate for the purpose of competition, nor will we use the exchange rate to increase China's exports,' says People's Bank of China Governor Yi Gang

Photo from Shutterstock

China's currency becomes key issue in U.S. trade talks

Mar 03, 2019 - 11:21 AM

US President Donald Trump last week said 'we have a deal' with China on the currency

YUAN ON THE TABLE. Trade talks between the United States and China continue with a currency now part of the talks. File photo by Brian Blanco/Getty Images/AFP

Philippines, China launch peso-yuan trading facility

Oct 30, 2018 - 8:05 PM

Finance Secretary Carlos Dominguez III says this reduces the cost of doing business for Chinese and Filipino businessmen

FASTER CONVERSION. The peso-yuan trading facility hastens the exchange of the two currencies. Shutterstock photo

PH foreign reserves down to $85.75B in October

Nov 07, 2016 - 9:25 PM

Reserves are down due to debt payments and the lower global price of gold but these can still cover 10 months worth of imports says the Bangko Sentral ng Pilipinas

China cuts yuan fix in biggest move since devaluation

Jun 27, 2016 - 1:45 PM

The People s Bank of China sets the value of the yuan at 6 6375 to the dollar the lowest level since December 23 2010

epa04879688 A Chinese fruit vendor shows her store earnings in various denominations of the Chinese Yuan, or Renminbi, currency in Beijing, China, 11 August 2015. The yuan has sunk to the lowest trading price in a decade after China's central bank devalued the currency on 11 August to aid a slowing economy. The People's Bank of China set the daily mid-point yuan trading price a record 1.9 per cent weaker at 6.2298 to the US dollar. EPA/ROLEX DELA PENA

Indonesia trade minister: Protectionism takes toll on APEC

Nov 17, 2015 - 4:34 AM

Indonesia s trade minister says: We talk about free trade but since the global financial crisis more countries including Indonesia have been rolling out protectionist measures

'NOT EFFECTIVE.' Indonesian trade minister Tom Lembong says protectionist policies in Indonesia and the rest of APEC did not lead to economic growth. Photo by Lilibeth Frondoso/Rappler

Chinese tourists unfazed by currency fall, market turmoil

Aug 30, 2015 - 1:59 PM

Aviation industry body: The short term outlook for Chinese outbound visitors remains strong and the long term is bright

PHOTO OP. Chinese tourist Pei Shuang, 43, takes a photo with her tablet computer inside the Royal Palace in Phnom Penh on February 4, 2015. Tang Chhin Sothy/AFP

Markets rally fizzles in US as China worries persist

Aug 26, 2015 - 10:01 AM

The global markets rebound fizzle out on Wall Street as investors lock in gains and take cover from more possible turmoil

LOOMING LARGE. A view of a board on the floor of the New York Stock Exchange at the start of the trading day in New York, New York, USA, August 25, 2015. Justin Lane/EPA

China sparks fresh global stock market rout

Aug 24, 2015 - 4:11 PM

UPDATED Chinese stocks have tumbled since peaking in mid June and authorities have launched broad interventions to try to restrain the drops but concerns over stalling growth and doubts about valuations continue to drag

An investor gestures in front of screens showing share prices at a securities firm in Hangzhou, in eastern China's Zhejiang province on August 24, 2015. AFP photo

Chinese yuan devaluation, 'big win' for PH BPO industry

Aug 21, 2015 - 3:00 PM

The Chinese yuan devaluation weakened the peso against the US dollar providing more value to foreign based companies invested in the Philippines CBRE Philippines says

FACTORS. CBRE Philippines' Rick Santos explains the macro economic factors that contribute to real estate's continued rise. Photo by Chris Schnabel / Rappler

China cuts yuan rate more than 1% against dollar

Aug 13, 2015 - 2:27 PM

The central bank puts the yuan s central parity rate at 6 4010 yuan for 1 0 the China Foreign Exchange Trade System says a drop of 1 11 from the previous day s 6 3306

DEVALUED. A teller counts yuan banknotes in a bank in Lianyungang, east China's Jiangsu province on August 11, 2015. AFP photo

China further devalues yuan

Aug 12, 2015 - 10:03 AM

China cuts the value of the yuan against the dollar by 1 62 the second reduction in two days

FURTHER DEVALUED. This file picture taken on September 24, 2013 shows Chinese 100-yuan (RMB) bank notes being counted at a bank in Huaibei, in eastern China's Anhui province. AFP file photo

How China is upsetting the old global economic order

Apr 19, 2015 - 9:29 AM

After decades of closely controlling its currency the renminbi or yuan China is now moving to internationalize it and asking that it be included in the IMF s benchmark basket of major currencies

File photo by AFP/Peter Parks