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China yuan touches 16-month low against dollar

China's yuan currency extended its downtrend against the dollar Wednesday to touch a 16-month low, despite the country's central bank fixing its trading point for the unit at a higher level. The unit fell to as low as 6.2466 to the dollar, its weakest level since December 2012, according to Dow Jones Newswires. But it closed at 6.2373, only slightly weaker than Tuesday's close of 6.2370, according to the China Foreign Exchange Trade System.

Deutsche Boerse, Bank of China agree closer cooperation: sources

FRANKFURT (Reuters) - Deutsche Boerse <DB1Gn.DE> and Bank of China <601988.SS> are set to sign a strategic partnership agreement that would make it easier for Chinese and European investors to gain access to each other's capital markets, two sources with knowledge of the matter told Reuters on Friday. The deal, which will make Bank of China a trade and clearing partner of Deutsche Boerse, will be sealed on Friday in Berlin during a state visit of Chinese President Xi Jinping, the sources said.

Deutsche Boerse, Bank of China agree closer cooperation: sources

FRANKFURT (Reuters) - Deutsche Boerse <DB1Gn.DE> and Bank of China <601988.SS> are set to sign a strategic partnership agreement that would make it easier for Chinese and European investors to gain access to each other's capital markets, two sources with knowledge of the matter told Reuters on Friday. The deal, which will make Bank of China a trade and clearing partner of Deutsche Boerse, will be sealed on Friday in Berlin during a state visit of Chinese President Xi Jinping, the sources said.

Britain, China sign yuan deal

Britain and China have signed a deal for the first clearing service for yuan trading outside of Asia, the government here said Wednesday. The move would make yuan, or renminbi, transactions in London's financial centre more efficient and quicker. Britain's Treasury said in a statement that the agreement between the Bank of England (BoE) and the People's Bank of China (PBoC) "further strengthens London's position as the Western centre of renminbi trading".

China's plan for global yuan hits speed bumps

By Michelle Chen and Saeed Azhar HONG KONG/SINGAPORE (Reuters) - Turbulence in Chinese financial markets, reflecting growing worries about investing in the country's assets, could slow the yuan's rapid emergence as a major international currency. Over the past five years, the yuan has gone from being a thinly traded currency to a major one for trade settlement, retail and institutional investment and arbitrage activity. A host of financial and commodity linked derivatives are tied to it.

China yuan drops nearly one percent against dollar

China's yuan currency fell nearly one percent against the US dollar in intraday trade Friday, its biggest drop in years, in what dealers viewed as a deliberate central bank tactic. The yuan -- also called the renminbi (RMB) -- dropped around 0.9 percent from the previous day's close in morning trading to 6.1808 against $1, its largest slide since the country ended a fixed peg to the dollar in 2005, Dow Jones Newswires reported.

China yuan drops nearly one percent against dollar

China's yuan currency fell nearly one percent against the US dollar in intraday trade Friday, its biggest drop in years, in what dealers viewed as a deliberate central bank tactic. The yuan -- also called the renminbi (RMB) -- dropped around 0.9 percent from the previous day's close in morning trading to 6.1808 against $1, its largest slide since the country ended a fixed peg to the dollar in 2005, Dow Jones Newswires reported.

China yuan ends at eight-month low against dollar

China's yuan currency fell nearly one percent against the US dollar in intraday trade Friday, its biggest drop in years, before recovering some ground but still closing at an eight-month low. The currency has fallen repeatedly in the last two weeks with many dealers believing the depreciation is a deliberate move by the People's Bank of China (PBoC), the central bank, to target speculative funds betting on continued rises.

China yuan weakens to 6.1115 against USD Thursday

BEIJING, Dec. 12 (Xinhua) -- The Chinese currency Renminbi, or the yuan, weakened 15 basis points to 6.1115 against the U.S. dollar on Thursday, according to the China Foreign Exchange Trading System. In China's foreign exchange spot market, the yuan is allowed to rise or fall by 1 percent from the central parity rate each trading day. The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices before the opening of the market each business day.

Renminbi globalization regains momentum: Standard Chartered

BEIJING, Dec. 9 (Xinhua) -- Banking multinational Standard Chartered said Monday that the offshore Renminbi market is regaining momentum following a soft patch in late second quarter and early third quarter, as its Renminbi index rose 2.4 percent in October from the previous month. Standard Chartered Renminbi Globalization Index (RGI) rose 2.4 percent in October to 1,220 from September, translating into 69.4 percent year-on-year growth, the London bank said in a statement.
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