Renminbi

PBOC Hires Blockchain Engineers Who Will Oversee Creation Of The "Digital RMB"

“The People’s Bank of China’s institute of printing science is offering six positions for the design and development of digital currency-related software and hardware framework, a recruitment notice said, adding that candidates with experience in blockchain and Big Data technologies will be preferred."...

Beijing Lied Again: Goldman Finds Chinese FX Outflows Are Accelerating, Hitting 4 Month Highs

According to official PBOC data released two weeks ago, the Chinese foreign exchange stockpile rose by $24 billion in May, the fourth consecutive month of increases, taking it to $3.056 the highest level this year, easing concerns about ongoing capital flight and preventing a self-fulfilling prophecy of capital outflows prompting more capital outflows. There is just one problem: China appears to have lied again.

China Downgrade Forgotten As Asia Closes Higher, Futures Flat Ahead Of Fed Minutes

Not even last night's Moody's credit downgrade of China - the first since 1989 - could dent the global stock rally which has pushed global stock prices to all time highs. After initially sliding, regional stocks and emerging Asian currencies pared early losses following the unexpected downgrade of China, taking their cue from the "sudden reversal" of the Shanghai Composite Index, which some speculated saw the latest intervention of the "national team."

Why The Chinese Yuan Won't Be The World's Reserve Currency

"The desirable goal of reforming the international monetary system, therefore, is to create an international reserve currency that is disconnected from individual nations." Disconnected from the dollar, yes - but not connected to the yuan...

World Money: Five Hidden Signals From The IMF

"By the time the final loss of confidence arrives, much of the damage will already have been done. The analytic key is to look for those minor events pointing in the direction of lost confidence in the dollar... With that information investors can take defensive measures before it’s too late."

Axiom: "Red Flags" Suggest China Credit Event Is "Closer Than It Appears"

The more recent red flags are among the most profound we’ve seen in years – in short, we agree with fresh observations made by some of the world’s most famous iron ore bears. Thus, while it is nearly impossible to pinpoint exactly when the credit bubble will definitively pop in China, a number of recent events, in our view, suggest the threat level is currently at red/severe