A more multipolar currency landscape — in which the Chinese renminbi could play a much larger role — is gaining traction, as intensifying geopolitical tensions and the rapid rise of emerging economies strain the traditional international monetary system, economists said. "The world needs a new and balanced monetary system," Zhu Min, former deputy managing director of the International Monetary Fund, told China Daily during the two-day Tsinghua PBCSF Global Finance Forum, which concluded on Tuesday in Chengdu, Sichuan province. "A strong renminbi represents the needs of Global South countries, the...

Currencies

Ringgit holds firm against major currencies despite stronger US dollar and West Asia tensions | Business

5 hours ago

THE ringgit opened mixed against regional currencies but remained broadly firmer against several major global currencies today as investors weighed...