Yuan read currency news market

China, Japan begin direct currency trading

China and Japan started direct currency trading on Friday as Beijing marked another stage on its journey to foster the yuan’s use internationally in line with its growing economic clout.

Pedestrians walk past a foreign currency exchange retail store in Tokyo. China and Japan started direct currency trading on Friday as Beijing marked another stage on its journey to foster the yuan’s use internationally in line with its growing economic clout.

Foreign exchange traders began swapping Japanese yen for the Chinese unit without having to use the US dollar as an intermediary currency when the market opened in Tokyo.

In early trade the yuan stood at 12.335 yen.

The yuan-yen trade — part of a wider deal reached last year to forge closer ties between Asia’s two largest economies — will be allowed to move in a wider range than the narrow band at which the dollar and yuan change hands.

China will set a daily rate based on dealer quotes, with trade allowed to move within a 3.0 percent band above or below that rate, compared with a 1.0 percent band fixed to the yuan-dollar.

The trading-band rule applies only in Shanghai while free exchanges are guaranteed in Tokyo.

Source: Copys.biz

Learning Resources Learning Resources Canadian Currency-X-Change Activity Set
Toy (Learning Resources)
  • Children will have loads of fun with the set of quality play money
  • Contains 110 plastic coins, 100 play money bills, sturdy six-sectioned plastic tray and bilingual activity guide
  • For ages 5 to 11

You might also like:

Simon Says International Use of Chinas Yuan to Broaden
Simon Says International Use of Chinas Yuan to Broaden
Tang Says Rapid Yuan Appreciation `Terrible for America: Video
Tang Says Rapid Yuan Appreciation `Terrible for America: Video
Lee Says China Will Appreciate Yuan to Prevent Trade War: Video
Lee Says China Will Appreciate Yuan to Prevent Trade War: Video

I read a lot about it...

2005-01-15 02:25:04 by JohnPaul

I've been to China... just briefly...
But since I'm part of the business structure that offshores jobs there... I'm concerned.
I'm not against doing business with China. I'm against a non-regulated, highly tilted bias in China's favor. IP laws for instance. China signed on to honor copyright of music and software - they don't enforce it. Again, they are very 1950s. So, if we have to buy HERO (the movie) for $19.00 where royalties make it back to Zhigy (actress) and friends but yet, they get to buy Starwars for 15 yuan (that's about $2.00 US) but never pay a cent in royalty. That's unfair.
Where they prop up is that we get goods very cheap from China - one reason that exchange rate is go beneficial is because China cannot float their currency on the international market...

Bank crisis hits Cyprus as government moves to part-nationalise Popular Bank  — This is Money
The EU passport scheme, however, would pay Britons in euros, and so would be £81300 at today's currency rate, following the weakening of the euro. The passport arrangement is used by seven banks operating in the UK, the most well-known being ING Direct …

Abdul Wahid Says Chinas Yuan Set to Float `Over Time
Abdul Wahid Says Chinas Yuan Set to Float `Over Time
Faber Says Yuan to Continue to Appreciate Versus Dollar: Video
Faber Says Yuan to Continue to Appreciate Versus Dollar: Video
Hong Kong Bourse Starts Trading Gold Quoted in Yuan
Hong Kong Bourse Starts Trading Gold Quoted in Yuan
Garmin Garmin nüvi 205W 4.3-Inch Widescreen Portable GPS Navigator
GPS or Navigation System (Garmin)
  • 4.3 in Touch Screen Navigator with 2D/3D Maps
  • Turn by Turn Voice Directions and Optional MSN Direct Services
  • Where Am I Emergency Locator / You Always Know Your Location
  • With HotFix, It Calculates Your Position Faster to Get You There Quicker
  • JPEG Picture Viewer, World Travel Clock, Currency Converter, Calculator and More
Educational Insights Play Money: Coins and Bills Tray
Toy (Educational Insights)
  • Includes 30 pennies, 30 nickels, 20 dimes, 15 quarters, 5 half dollars, 30 $1 bills and 20 $5 bills
  • Also includes 20 $10 bills, 15 $20 bills, 10 $50 bills, and 5 $100 bills in storage tray
  • Reproductions of American money encourage realistic play and authentic learning
  • For ages 5 and up
TVTimedirect Money Machine-Electronic Change Counter
Office Product (TVTimedirect)
  • This incredible Money Machine electronically counts every coin as you deposit them
  • Displays a running total of your savings so you'll know exactly how much you have
  • Counts up to $999.99
China and Japan To Start Direct Currency Trading
China and Japan To Start Direct Currency Trading
Hong Kong Mercantile Exchange to Offer Yuan Gold Futures
Hong Kong Mercantile Exchange to Offer Yuan Gold Futures
Standard Chartereds Harr Favors Yuan, Rupiah, Baht
Standard Chartereds Harr Favors Yuan, Rupiah, Baht

Related posts:

  1. Currency markets
  2. What is currency market?
  3. CF advanced currency market
  4. Euro currency market