How Asia can reduce its dollar dependence
SINGAPORE – The U.S. dollar remains the world’s leading reserve currency, but recent developments — particularly President Donald Trump’s unilateral...
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Indian state refiners resume yuan payments for Russian oil amid warming China ties: Report – Firstpost
Indian state-run refiners have resumed payments in Chinese yuan for Russian oil shipments, amid signs of improving diplomatic ties between...
Another step towards de-dollarisation? Why is China expanding into digital currencies? – Firstpost
There’s a quiet change sweeping China’s economy. The Asian giant is slowly but steadily pushing forward with digital currencies —...
ChinaAMC launches world’s first tokenised yuan fund amid Hong Kong stablecoin push
ChinaAMC (HK), the Hong Kong arm of Chinese fund house China Asset Management, launched the world’s first yuan-denominated tokenised fund...
Amid China, US stablecoin buzz, BIS warns that a trio of ‘sound money’ traits is missing
With some major economies leaping onto the stablecoin train – or being urged to do so, to further globalise their currencies – others are mulling whether getting on board would be akin to either riding the gravy train or feeling it fail to gather steam.Now, the international financial organisation known as the “bank for central banks” has waded into the stablecoin debate as the buzzword gathers momentum.In a “special chapter” released on Tuesday in advance of Sunday’s release of its Annual Economic Report 2025, the Bank for International Settlements (BIS)...
Dollar’s decline is fueling dislocations across Asian currencies
Asian currencies turbocharged by dollar weakness are attaining rarely seen superlatives and triggering central bank intervention to curb excessive gains.The Hong Kong Monetary Authority on Friday sold a record amount of local dollars to prevent its advance and protect the currency’s 42-year-old peg to the greenback. Taiwan’s central bank also intervened as its currency soared the most since 1988. The offshore yuan rallied to its strongest since November.The volatility shows how an exodus from the world’s reserve currency can ripple through financial markets, as President Donald Trump’s shifting tariff policies...
Decline of the US dollar as dominant global currency is inevitable: economists
The global economy is inexorably moving towards a multicurrency system as China’s persistent efforts to internationalise the yuan and technological changes erode the US dollar’s dominant position, economists said at a conference on Monday.“Trade invoicing in yuan went from zero per cent to 30 per cent in the last 10 years, and half of Chinese capital flows are now in yuan, much higher than before,” said Jin Keyu, a professor at the London School of Economics, at a panel hosted by the Milken Institute, a US-based think tank.“The truth is...
Economists rebuke Trump’s currency claims, explain why Beijing wants yuan stable
US President Donald Trump’s latest accusation of China’s trade advantage via yuan depreciation suggests his sights are set on reducing the US trade deficit, according to analysts who also noted that a priority of China’s central bank is stabilising the currency against the backdrop of a strong dollar and mounting tariff risks.They contended that Trump’s warning on Monday – that China and Japan “can’t continue to reduce” their currencies because it is “unfair” to the US – clashes with Beijing’s actual efforts to prevent a sharp yuan depreciation. Japan also...