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The US dollar still dominates debt markets, but some niche-sounding data suggests things could be set to shift
Shift away from using ‘toxic currencies’ for trade and reserves accompanies increase in yuan-denominated bank accounts
The greenback is bound sooner or later to feel the effects of intensifying geopolitical rivalry between the US and China
People’s Bank of China uses ‘invisible reserves’ to manage currency fluctuations
China’s central bank sets midpoint of trading band at lowest level since global financial crisis
The renminbi has fallen almost 12% against the US dollar this year
China’s foreign currency holdings also dropped in September as the strength of the dollar rose
Regulators seek to allow more renminbi weakness but avoid runaway depreciation
People’s Bank of China stops short of deploying significant foreign exchange reserves
Chinese currency has fallen 11.5% this year as Fed raises rates to tame inflation
Covid lockdowns, sputtering economic growth and diverging monetary policy pile pressure on China’s currency
Beijing will not want to pass on price rises to consumers in full
Scheme allowing mainland funds to access offshore renminbi debt in Hong Kong spurs new issuance
Dollar’s dominance could gradually decline as a result of geopolitical flare-ups, UBS survey shows
Beijing must find the confidence to lift capital controls and make the renminbi fully convertible
Beijing seeks to reignite interest in onshore debt in face of economic slowdown
Foreign fund managers have sold $35bn worth of renminbi-denominated bonds in 2022
Currency sell-off sharpens after president pledges ‘all out’ infrastructure spending
Currency traders expect further weakness soon as Beijing has little leeway for tightening
Chinese currency has fallen 1.5% against the dollar on weakening economic outlook and higher US debt yields
The Chinese renminbi can be a challenger to the US dollar, but it won’t replace it
China’s currency experiment is not even close to ready for large-scale international use
Move expected to boost bilateral trade as Moscow grapples with sanctions imposed after invasion of Ukraine
Crude touches highest level since 2008 and investors dump shares after threat of energy sanctions
Sanctions on Russia highlight Beijing’s efforts to internationalise the renminbi
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