Yuan soars, stocks surge as investors bet on imminent U.S.-China deal signing
Asian shares rose, China’s yuan jumped and safe-harbour assets slipped on Tuesday, amid signs of goodwill between China and the United States, as the world’s two biggest economies prepared to sign a truce in their trade war.
China opposes 'currency manipulator' label
China's central bank said Tuesday it is "resolutely opposed" to the United States labelling Beijing a currency manipulator a day after it let the yuan weaken significantly against the dollar.
China's yuan hits decade low on trade, economy fears
The Chinese yuan weakened to a decade low on Tuesday on concerns over China's slowing economy and the US trade war, but Beijing was expected to prevent it breaking the psychologically important 7 yuan per dollar barrier.
Dollar rises on firmer U.S. yields; yuan struggles
The dollar edged higher on Tuesday as firmer U.S. Treasury yields encouraged investors to buy the greenback after a recent drop with investors growing more bullish about its short-term outlook, especially against emerging market currencies.
CBN’s maiden Chinese yuan auction put at N3.6 billion
The first CNY 69.8 million auction of the Chinese currency by the Central Bank of Nigeria (CBN) under the swap deal with the Asian country has been estimated at N3.6 billion, with exchange rates fixed for between N49 and N51 per yuan. Two months ago, when the deal was consummated by the two apex financial…
CBN commences chinese Yuan forex intervention
The Central Bank of Nigeria (CBN) yesterday flagged off its intervention in the sale of foreign exchange in Chinese Yuan (CNY), signaling the consummation of the Bilateral Currency Swap Agreement (BCSA) signed with the People’s Bank of China (PBoC) on April 27.
Asia markets rally as China's yuan defies Trump dollar warning
Asian markets advanced Friday, with Shanghai gaining two percent as China's weak yuan currency defied US President Donald Trump's criticism of a strong dollar and Fed rate hikes.
Nigeria, China sign currency swap deal
China’s central bank said Thursday that it has inked a currency swap agreement with its counterpart in Nigeria. The agreement will allow the two sides to swap a total of 15 billion Chinese yuan (2.35 billion dollars) for 720 billion Nigerian naira, or vice versa, in the next three years, the People’s Bank of China…
Nigeria’s currency deal with China stalls two years after talks
Two years after the administration of President Muhammadu Buhari announced that the country was in advanced talks with China for a currency swap deal, the scheme has failed to take off. The development now appears like a similar move made earlier under the administration of Goodluck Jonathan in 2013, in which several infrastructure deals were…
Germany to add China's yuan to currency reserves
Germany's central bank has said it will include China's yuan in its reserves, giving another boost to Beijing's drive to internationalise the currency and helping send the unit to two year highs.