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    China’s Central Bank Increases International Payments Efficiency

    The People's Bank of China (PBC) introduces a new policy and extended hours of operation.

    The People's Bank of China (PBC) has recently reported the demand to improve their levels of effectiveness for international payments by extending the operating hours to clear higher cost transactions overnight. According to news from Reuters on...

    Tags: peoples bank of china,pbc,payments policy,china,chinese yuan,cny,rmb,international payments,cross-border payments,banks,financial institutions,foreign exchange,foreign currency,forex

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    Chinese Yuan Set To Join IMF Currency Basket

    IMF staff determines the yuan meets the requirements to be a freely usable currency.

      On Friday, the International Monetary Fund announced policymakers are expected to decide this month whether to add China's yuan to the fund's benchmark currency basket for inclusion in the Special Drawing Rights (SDR) basket. This would mark a...

    Tags: china,currencies,yuan,rmb,economy,global imf,imf,sdr,special drawing rights,foreign currency,foreign exchange,currency exchange,money