CNY (RMB) 02 (Feb 16 - Dec 24)

[winston]

Yuan sixth most-used

The yuan fell to sixth place in April among most-used currencies for global payments by value with a market share of 1.82 percent, global transaction services organization SWIFT said yesterday.

The yuan jumped to fourth place last August but gradually lost growth momentum as the volatile foreign exchange rate and China's sluggish economy dampened foreign investors' appetite to use or hold the currency.

The "redback" now comes after the US dollar, the euro, the sterling, the Japanese yen and the Canadian dollar.

Overall, yuan payments value in April decreased by 7.73 percent from a month earlier, while in general all payment currencies decreased by 4.6 percent, SWIFT said.

Also yesterday, China's economic planning agency said some mainland firms were improperly issuing offshore debt.

The National Development and Reform Commission's notice also said that issuing firms, underwriters and law offices that do not follow proper procedures will be added to a national blacklist and punished.

Source: REUTERS

[winston]

Why Goldman Turns Bearish On Yuan, Too

By Shuli Ren

So what made Goldman Sachs change its mind?

It’s because PBoC can’t move to a trade-weighted basket without irking the Chinese households.

While China trades with an array of countries, Chinese people are fixated on the yuan’s exchange rate to the dollar.

So as the dollar strengthens – and it will once the Fed raises rates this summer – Chinese households will find ways to take their money overseas again, triggering another round of speculative shorts.

Source: Barron's Asia

http://blogs.barrons.com/asiastocks/201 ... -yuan-too/

[winston]

China Capital Outflows Are Back, Some Funnier Than Others

By Valentin Schmid

Source: Epoch Times

http://www.theepochtimes.com/n3/2085783 ... an-others/

[behappyalways]

對沖基金造淡　
人幣考驗6.7算
http://hk.apple.nextmedia.com/financees ... 1467016699

[behappyalways]

Yuan Heads for Worst Quarter on Record as Outflows Seen Rising
http://www.bloomberg.com/news/articles/ ... een-rising

[behappyalways]

人幣在岸價逾5年半新低
http://hk.apple.nextmedia.com/financees ... 1467273700

[winston]

Is PBoC Grabbing Brexit To Weaken The Yuan?

By Shuli Ren

The People’s Bank of China weakened its yuan fix further this morning, down 122 pips to 6.6594 per dollar, setting a new low since December 2010. The offshore yuan fell another 0.1% to 6.6818.

Market participants are talking about the weaker yuan again. Bloomberg for instance:

“The trend of depreciation will continue as China’s economy hasn’t hit bottom,” said Nathan Chow, an economist at DBS Group Holdings Ltd. in Hong Kong. “A sharp yuan depreciation versus the greenback will reignite panic and lead to a fund exodus, so the decline will be gradual.”

Source: Barron's Asia

http://blogs.barrons.com/asiastocks/201 ... -the-yuan/

[behappyalways]

「人民幣是負責任的國際貨幣」又創新低
http://hk.apple.nextmedia.com/financees ... 1467590855

[behappyalways]

Yuan in Longest Losing Streak Since February as Forecasts Cut
http://www.bloomberg.com/news/articles/ ... ecasts-cut

[behappyalways]

人幣近6年新低　大行睇淡
http://hk.apple.nextmedia.com/financees ... 1467590855