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Exchange Rates Of The Chinese Renminbi, Yuan...
 
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Information Source: "Bank Of China" United States Dollar (USD) to Renminbi (RMB) … United Arab Emirates Dirham (AED) to Renminbi (RMB)… Brazilian Real (BRL) to Renminbi (RMB)… South Korean Won (KRW) to Renminbi (RMB)… Russian Ruble (RUB) to Renminbi (RMB)… Euro to Renminbi (RMB)… Indian Rupee (INR) to Renminbi (RMB)… Turkish Lira (TRY) to Renminbi (RMB)… Japanese Yen (JPY) to Renminbi (RMB)… USD to Yuan (CNY)… AED to Yuan… EUR to Yuan… INR to Yuan… TRY to Yuan… RUB to Yuan… BRL to Yuan… KRW to Yuan… AED to Yuan… YPY to Yuan… CNY exchange rates… RMB exchange rates… China currency rates… Exchange Rates Of The Bank Of China (BOC) Yuan prices... CNF Forex Rates... China's money rates... Курсы китайского юаня ... 中国银行汇率(BOC) Курсы валют Банка Китая (BOC) ... Çin Bankası Döviz Kurları (BOC) ... बैंक ऑफ चाइना (बीओसी) की विनिमय दरें ... أسعار صرف بنك الصين (بوك) ... 中国銀行の為替レート(BOC)... Taxas de Câmbio do Banco da China (BOC) ...
Changing currency on the street in China: Rmb to dollars/ euros...
 
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In China in front of bank you change any currency at a higher interest rate! In fact these people work together with some bank employee... But this is totally illegal, they offer a higher interest rate and share the benefit with the bank employee (this is kind of cheating the bank). As a foreigner living in China, I would recommand changing your foreign currency with these people, you will benefit from a higher interest rate. But you should go there with a Chinese personn... Take care dear viewers! Subscribe!
Views: 880 China Non-Stop
Can't Pay for Dumplings with a Smile? Learn "Exchange Money" in Chinese
 
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Change those Dollars, Pounds and Pesos into Chinese RMB! This lesson will teach you how to exchange money 换钱 (huàn qián) in China. Watch video answers HERE: http://goo.gl/xBKCpw
Views: 2263 eChineseLearning
Chinese Money: A Guide | How To SPOT FAKE MONEY In CHINA | BE SAFE in China
 
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The Chinese Yuan, or RenMinBi (RMB), is the common currency of the People's Republic of China. The exchange rate of yuan to US dollars is roughly six-to-one, which makes it nice for any Americans, Brits, or Europeans coming to China. This is a guide for anyone who may not know what Chinese money looks like or what it means. It may not be entertaining, but it is an important thing to talk about. Money makes the world go round, so we should know a little something about it! :) Facebook: http://www.facebook.com/letchinasleep2 Twitter: @LetChinaSleep 我的微博:@懒惰老外 My old blog: http://www.austinguidryexperiencingchina.blogspot.com
Views: 42504 Austin In China
Getting Money In and Out of China
 
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What is the best way of getting money in and out of China? If you are coming to China, should you bring cash or credit cards? Will your bank card work in ATMs and Chinese banks? What is the exchange rate in China? Can you use USD in China? Want to survive in China? Let me show you how. Join me on Facebook: http://www.facebook.com/winstoninchina Support me on Patreon: http://www.patreon.com/serpentza Twitter: @serpentza Music used: starlitdeception.s3m
Views: 63040 serpentza
Change in China - Development of the Renminbi - Episode 2
 
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In a series of short films, HSBC NOW looks at how the internationalisation of the Renminbi is affecting people in China. In this episode, HSBC's Rongrong Huo explores how the country has changed over the past 40 years and finds out how the currency will fuel China's growth. HSBC NOW brings you stories from our colleagues around the world. For more videos, and to stay up to date with HSBC NOW, subscribe to the channel. Twitter: http://www.twitter.com/HSBC_NOW
Views: 12124 HSBC NOW
What is the Best Way to Send Yuan (RMB) Transfers to China?
 
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For more info see: http://bit.ly/1QPp6MT Transfer money quickly to any bank account in China. With MTFX you can transfer money in US dollars or Chinese Yuan to any bank account in China. Our network of banks can have your money deposited to any bank account in China in less than 24 hours.
Views: 3381 MTFX Foreign Exchange
China’s exchange rate policy over the past decade
 
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Ben Bernanke explains the recent changes in China’s exchange rate and economic policy and why they are positive for the country’s economy. https://www.brookings.edu/events/gaining-currency-the-rise-of-the-renminbi/ On September 23, the Global Economy and Development program at Brookings hosted the launch of “Gaining Currency: The Rise of the Renminbi,” featuring the book’s author, Brookings senior fellow Eswar Prasad. Subscribe! http://www.youtube.com/subscription_center?add_user=BrookingsInstitution Follow Brookings on social media! Facebook: http://www.Facebook.com/Brookings Twitter: http://www.twitter.com/BrookingsInst Instagram: http://www.Instagram.com/brookingsinst LinkedIn: http://www.linkedin.com/com/company/the-brookings-institution
Views: 1335 Brookings Institution
China to stick to reforms in RMB exchange rate
 
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Views: 41 CCTV English
Pegging the yuan | Money, banking and central banks  | Finance & Capital Markets | Khan Academy
 
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How the Chinese Central Bank could peg the Yuan to the dollar by printing Yuan and buying dollars (building up a dollar reserve). Created by Sal Khan. Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/core-finance/money-and-banking/currency-tutorial/v/chinese-central-bank-buying-treasuries?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Missed the previous lesson? Watch here: https://www.khanacademy.org/economics-finance-domain/core-finance/money-and-banking/currency-tutorial/v/currency-effect-on-trade-review?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Finance and capital markets on Khan Academy: This tutorial walks through how China's undervaluing of its currency impacts trade and prices (which also fuels cheap borrowing for the U.S.). About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content. For free. For everyone. Forever. #YouCanLearnAnything Subscribe to Khan Academy’s Finance and Capital Markets channel: https://www.youtube.com/channel/UCQ1Rt02HirUvBK2D2-ZO_2g?sub_confirmation=1 Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
Views: 108532 Khan Academy
People's Bank of China pegs RMB to various market forces
 
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China announced exchange rate reforms last year to make the yuan's value more market-driven. To make it even more responsive, the People's Bank of China announced Tuesday that it will now peg the yuan's value to a variety of market forces, including the previous day's inter-bank closing rate, market supply and demand, and price movements in other major currencies besides the U.S. dollar.
Views: 998 CGTN America
People's Bank of China to Facilitate RMB Exchange in London featuring Chris Devonshire-Ellis
 
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Chris Devonshire-Ellis, Founding Partner & Principal of Dezan Shira & Associates, is interviewed by Dukascopy TV about the three year reciprocal currency swap facility between China and London. For further information about the currency swap between China and London, please see here: http://bit.ly/16jreHR
Views: 100 Asia Briefing
5 Interesting Things You Didn't Know about RMB - amazing Chinese currency
 
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Chinese currency is known as Renminbi (RMB). RMBs are colorful and they tell stories about Chinese people.To learn more interesting facts about RMB, click here to watch the video. Have you subscribed to our channel yet? We are a team dedicated to helping you learn Mandarin Chinese and interesting Chinese culture. If you like our videos, please share them with your friends and family. Subscribe to our channel at: https://www.youtube.com/user/learnhowtochinese
Views: 5980 LearnHowToChinese
Will China's Currency Dominate the US Dollar? | China Uncensored
 
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Could China's yuan rival the US dollar as the next major reserve currency? The IMF has made the Chinese yuan, or renminbi, the only non-democracy to be included in the SDR, or Special Drawing Rights. What does any of that mean?! Watch China Uncensored to find out what this means for the global economy. Join the China Uncensored 50-Cent Army! https://www.patreon.com/ChinaUncensored Subscribe for more China Uncensored: http://www.youtube.com/ntdchinauncensored Make sure to share with your friends! ______________________________ Twitter: https://twitter.com/ChinaUncensored Facebook: http://www.facebook.com/ChinaUncensored Google+: https://plus.google.com/+NTDChinaUncensored Instagram: instagram.com/ChinaUncensored ______________________________ MOBILE LINKS: 5 Ways Star Wars is Surprisingly Like China https://www.youtube.com/watch?v=Q49ZGvfGOIU China Sells Killer Drones to the Middle East https://www.youtube.com/watch?v=pDd4or3ckgg
Views: 194441 China Uncensored
Why the fall of China's renminbi matters
 
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The renminbi has fallen to its lowest level against the dollar since December amid escalating trade tensions with the US. The FT's Roger Blitz explains the currency's fall and why it matters – in 90 seconds.
Views: 12457 Financial Times
Hong Kong RMB conversion limit removed
 
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The daily RMB20,000 cap on conversion limits for Hong Kong residents will no longer apply from November 17 2014. Monetary Authority Chief Executive Norman Chan told the media today that under the new arrangements, banks will square the positions arising from RMB conversion conducted with Hong Kong residents in offshore markets instead of onshore markets. As a result, the prevailing conversion and other restrictions for onshore conversion will no longer be applicable. He said he hopes the removal of the conversion limits will bring more convenience for local residents to participate in the Shanghai-Hong Kong Stock Connect and other RMB financial transactions. Residents can buy or sell RMB more freely. He believes Hong Kong's liquidity pool, at 1.1 trillion yuan, is large enough to cater for residents’ additional needs for RMB conversion transactions. The new arrangement will also facilitate the launch of RMB investment products by financial institutions in Hong Kong and raise its position as an offshore RMB business centre, he added. The authority has issued a circular to banks setting out the detailed arrangements. HKMA scraps 20,000 yuan daily conversion cap in landmark reform - Ending 20,000 daily limit the latest step in Beijing's internationalisation of the currency - HKMA chief Norman Chan says the daily cap to exchange Hong Kong dollars for yuan will be lifted starting on Monday when the Shanghai-Hong Kong Stock Connect scheme is launched. Hong Kong will allow the city's residents to convert yuan freely from Monday - a landmark reform that marks the latest step in the internationalisation of the tightly controlled currency. The move will see the daily conversion limit of 20,000 yuan, in place since 2004 in a bid to stymie currency speculation, scrapped. It paves the way for a freer flow of yuan in one of the world's busiest international financial markets. The change, announced yesterday by Hong Kong Monetary Authority chief executive Norman Chan Tak-lam, takes effect on the day the 550 billion yuan (HK$700 billion) Shanghai-Hong Kong Stock Connect scheme to link share trading in China's two biggest financial centres begins. "The removal of the daily conversion limit will facilitate Hong Kong residents' participation in the Shanghai-Hong Kong Stock Connect as well as other investments and transactions denominated in the yuan," said Chan. The city has allowed non-residents to convert unlimited quantities of yuan daily since 2012. Demand for yuan ahead of the launch of the stock market "through train" has soared, forcing banks to increase deposit rates several times since September in a bidding war to secure enough funds for the scale of trade anticipated. Scrapping the conversion cap by allowing residents effectively to tap into the offshore yuan deposit pool of 1.1 trillion yuan eases that pressure. Controls will remain on yuan remittances to the mainland by holders of Hong Kong bank accounts. The daily limit of 80,000 yuan will not change and cross-border travellers will still have to declare physical holdings of 20,000 yuan or more. Analysts saw yesterday's move as a critical step in Beijing's efforts to open up its capital markets and promote the yuan as an international currency. "This regulatory change is a positive step for the broader growth of the offshore (yuan) foreign exchange market," HSBC currency analysts wrote. Beijing has promoted the yuan's use for settling trade in goods since 2009 in a bid to end the dominance of the US dollar and reflect China's emergence as the world's biggest exporter. That effort has made the yuan the world's seventh-most used currency for payments, but tight limits on convertibility for financial transactions have prevented it becoming an instrument of choice for global investors. Analysts see that as a crucial next stage of development for the yuan before it can achieve reserve currency status for the world's major central banks and give Beijing influence in institutions like the International Monetary Fund, which set rules for the global economy and are dominated by the US and Europe.
Views: 382 Johnson W K Choi
How Does China Manipulate Its Currency?
 
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» Subscribe to NowThis World: http://go.nowth.is/World_Subscribe With about $400 billion in debt and a broken economy, Greece is in trouble. But, how did Greece end up with such a high debt, and who do they owe money to? Learn More: Greece's Debt Due: What Greece Owes When http://graphics.wsj.com/greece-debt-timeline/ "Greece is negotiating with its eurozone creditors to get more aid before the indebted government runs out of cash." Explaining the Greek Debt Crisis http://www.nytimes.com/2015/04/09/business/international/explaining-the-greek-debt-crisis.html "Greece, the weak link in the eurozone, is struggling to pay its debt as its people and its creditors grow more restive." Greek debts: what does it owe? When will the money run out? http://www.theguardian.com/business/2015/apr/24/greek-debts-what-does-it-owe-when-will-the-money-run-out "Crunch talks between Greece and its eurozone creditors are under way, but investors are growing increasingly sceptical that the country can reach an agreement on reforms and unlock the aid it needs from international lenders to avoid a debt default." Greek debt crisis: Who has most to lose? http://money.cnn.com/2015/01/28/investing/greek-debt-who-has-most-to-lose/ "Greece and its international lenders have embarked on a battle over the country's staggering debt." Watch More: What Happens If A Country Goes Bankrupt? https://www.youtube.com/watch?v=3PZDLG-rtGs&list=UUgRvm1yLFoaQKhmaTqXk9SA _________________________ NowThis World is dedicated to bringing you topical explainers about the world around you. Each week we’ll be exploring current stories in international news, by examining the facts, providing historical context, and outlining the key players involved. We’ll also highlight powerful countries, ideologies, influential leaders, and ongoing global conflicts that are shaping the current landscape of the international community across the globe today. More from NowThis: » Subscribe to NowThis News: http://go.nowth.is/News_Subscribe » Like NowThis World on Facebook: https://go.nowth.is/World_Facebook » Connect with Judah: Follow @judah_robinson on Twitter – Facebook: http://go.nowth.is/LikeJudah » Connect with Versha: Follow @versharma on Twitter – Facebook: http://go.nowth.is/LikeVersha http://www.youtube.com/nowthisworld Special thanks to Lissette Padilla for hosting TestTube! Check Lissette out on Twitter:https://twitter.com/lizzette
Views: 269830 NowThis World
Currency Exchange Machine in China | How to use a currency exchange machine? | China Diaries
 
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I found this currency exchange machine in China in my hotel. This machine will help you save some time. If you don't want to exchange your currency through an agent because of some reason, you can use this machine to exchange your currency based on the Foreign Exchange rates at that time. Click here to watch the entire Info Bhandaar China Diaries series: https://goo.gl/Fn29QV Follow Info Bhandaar's Quora Blog to find articles on topics covered in our videos. Use this link to read them: https://infobhandaar.quora.com/ You can follow Info Bhandaar on the following social media pages: Facebook: https://www.facebook.com/infobhandaar Twitter: https://twitter.com/infobhandaar Instagram: https://www.instagram.com/infobhandaar Snapchat: @infobhandaar Logo designed by Parth Nagpal ˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍ Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use. ˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍˍ
Comparing a 1 Dollar with a Chinese Yuan
 
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via YouTube Capture
Views: 2707 Little Llama Face
The Dollar-Yuan Exchange Rate is a Very Poor Trade Candidate for Trade Wars
 
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Talking Points: • Trade wars are a critical fundamental theme that will likely motivate much of the volatility and momentum in the near future • While it is essential to account for this global stand off - and even take advantage - the Dollar-Yuan is a poor outlet • Being so close to the heart of trade wars, a conduit for remarkably uncertainty and presumed intervention makes USDCNH a risk See how retail traders are positioning in USDJPY, other FX crosses, indices, gold and oil intraday using the DailyFX speculative positioning data on the sentiment page. (https://www.dailyfx.com/sentiment?ref-author=Kicklighter)
Views: 960 DailyFX
Coin 1 fen 2005 Chinese money Renminbi 中國 1分, China монета фень Нумизматика Китая
 
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Chinese money The Renminbi (Ab.: RMB; Chinese: 人民币; pinyin: About this sound rénmínbì; literally: "people's currency"; sign: 元; code: CNY) is the official currency of the People's Republic of China. The yuan (Chinese: 元; pinyin: yuán) is the basic unit of the renminbi, but is also used to refer to the Chinese currency generally, especially in international contexts where "Chinese yuan" is widely used to mention the Renminbi. The distinction between the terms renminbi and yuan is similar to that between sterling and pound, which respectively refer to the British currency and its primary unit. One yuan is subdivided into 10 jiao (Chinese: 角; pinyin: jiǎo), and a jiao in turn is subdivided into 10 fen (Chinese: 分; pinyin: fēn). The Renminbi is issued by the People's Bank of China, the monetary authority of China.[5] Until 2005, the value of the renminbi was pegged to the US dollar. As China pursued its historical transition from central planning to a market economy, and increased its participation in foreign trade, the renminbi was devalued to increase the competitiveness of Chinese industry. It has previously been claimed that the renminbi's official exchange rate was undervalued by as much as 37.5% against its purchasing power parity.[6] More recently, however, appreciation actions by the Chinese government, as well as quantitative easing measures taken by the Federal Reserve and other major central banks, have caused the renminbi to be within as little as 8% of its equilibrium value by the second half of 2012.[7] Since 2006, the renminbi exchange rate has been allowed to float in a narrow margin around a fixed base rate determined with reference to a basket of world currencies. The Chinese government has announced that it will gradually increase the flexibility of the exchange rate. As a result of the rapid internationalization of the renminbi, it became the world's 8th most traded currency in 2013,[8] and 5th in 2015 Частый вопрос в кроссвордах: "монета Китая 4 буквы" - юань или фень, но на ваших экранах часть китайского юаня монета 1 фэнь 2005 года Фынь, реже фэнь (кит. 分, пиньинь: fēn, палл.: фэнь) — первоначально единица измерения массы, затем денежная единица. Юа́нь (кит. трад. 圓, упр. 元, пиньинь: Yuan) — современная денежная единица Китайской Народной Республики, в которой измеряется стоимость жэньминьби (кит. упр. 人民币, пиньинь: Rénmínbì, буквально: «народные деньги», сокращённо RMB). Одна из основных резервных валют мира, входит в «корзину» специальных прав заимствования МВФ[1]. Международное обозначение валюты в стандарте ISO 4217 — CNY. Один юань делится на 10 цзяо (角), которые, в свою очередь, делятся на 10 фэней (分). Например, сумма в 3,14 юаня произносится как 3 юаня 1 цзяо 4 фэня (三元一角四分). Слова цзяо и фэнь также обозначают десятичные приставки 10−1 и 10−2 соответственно. В обращении находятся монеты номиналом 1, 2, 5 фэней, 1 и 5 цзяо, 1 юань. Эмиссионный институт — Народный банк Китая (учреждён 1 декабря 1948). С 1994 по июль 2005 юань был жёстко привязан к доллару США с обменным курсом 8,28:1. Надписи на четырёх языках — (чжуанском, монгольском, уйгурском, тибетском), являющимися официальными в автономных районах Китая — (Гуанси-Чжуанском, Монгольском, Синьцзян-Уйгурском и Тибетском), имеются на всех китайских банкнотах[2]. В Общероссийском классификаторе валют национальная валюта Китая называлась: китайским юанем (с 26.12.1994 по 01.01.2001), юанем Ренминби (с 01.01.2001 по 01.02.2007), юанем Жэньминьби (с 01.02.2007 по 2009 год), юанем (с 2009 года по настоящее время). По данным агентства Bloomberg, в межбанковском обороте в системе SWIFT в период с мая 2013 по май 2014 годов доля юаня составила 1,47 % (0,84 % годом ранее). При этом доля американского доллара (за тот же промежуток времени) — 42 %, евро — 32 %, российского рубля — 0,35 % Современные монеты Китая Каталог Information: Krause number KM# 1 Country China Period People's Republic (1999 - 2017) Period People's Republic (1955 - 1999) Coin type Circulation coins Denomination 1 fen Year 1955-2015 Composition Aluminium Edge type Milled Shape Round Alignment Medal (0°) Weight (gr) 0.67 Diameter (mm) 18 Thickness (mm) 1.3 ********************************************************************** Стоимость, цена монеты на интернет аукционах и нумизматических магазинах : 0.11- 0,3 USD USD ********************************************************************* ღ♥Подпишись на канал !ღ♥ ********************************************************************** The average price of coin auctions / coin stores : 0.11- 0,3 USD ******************************************************************* Композиция "Carol Of The Bells" принадлежит исполнителю Audionautix. Лицензия: Creative Commons Attribution (https://creativecommons.org/licenses/by/4.0/). Исполнитель: http://audionautix.com/
Views: 1090 НУМИЗМАТ
Free Renminbi Exchange Rate versus the Dollar
 
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http://www.theforexnittygritty.com/forex/free-renminbi-exchange-rate-versus-the-dollar Free Renminbi Exchange Rate versus the Dollar By www.TheForexNittyGritty.com China is allowing banks to set a free Renminbi exchange rate versus the dollar in over the counter trading. This may well be a first step in freeing its currency from state control according to a Reuter's article reported in the New York Times. China has permitted banks to freely set their own exchange rates for the renminbi against the dollar in over-the-counter transactions - another step toward freeing the exchange rate from government control. China has been moving slowly toward a free floating currency although slower than North American and European nations would have liked. Most recently banks were required to set Renminbi US dollar exchange rates within three percent of a government dictated exchange rate. The bottom line to a free Renminbi exchange rate versus the dollar is that China believes that its currency is now fairly priced versus the US dollar. As such a free Renminbi exchange rate versus the dollar or other major currencies will not result in a run on the dollar or a run on the Renminbi. Renminbi Internationalization It is a goal of the Chinese government to internationalize the Renminbi. According to the Euromoney online the move to a free Renminbi exchange rate versus the dollar is meant to further the Renminbi's internationalization. A common complaint of companies working in China is managing liquidity with what has been a government controlled currency. In a survey conducted by Euromoney's Research Group in association with ICBC on the Renminbi's rise, close to 3,000 treasury and finance professionals of international companies with exposure to China responded and shared their views on renminbi liquidity management, cross-border trade settlement, inter-company invoicing and some of the main operational challenges corporate treasurers face in the country. Additionally, China would like to have the clout that the US does in international affairs as seen in the ability of the United States and its Western allies to shut down trade with rogue nations via the international banking system. A free Renminbi exchange rate versus the dollar could be viewed with that aspect in mind as well. Free Trade, Fair Trade and Central Banks A seemingly eternal complaint of the North Americans and Europeans is how China manipulates its currency in order to drive up the value of the US dollar and Euro. This practice has made Chinese products more competitive and resulted in the growth of the Chinese industrial machine. Now that there is a move to a free Renminbi exchange rate versus the dollar, one might be naïve enough to think that currency manipulation is over with. Think again. Central Banks are always free to buy and sell currencies and even with a free floating Renminbi the People's Bank of China can still buy dollars to drive the price up and maintain a competitive advantage in trade. Meanwhile China is poised to pay for Russian oil and natural gas in Renminbi, trade Renminbi in London and is setting up Renminbi clearing bank in South Korea to facilitate a bilateral trade deal and trade denominated in Renminbi. Chinese and South Korean leaders have pledged to sign a bilateral trade agreement by the end of this year and introduce direct trading of their currencies to spur cross-border renminbi transactions and deepen economic ties in two of Asia's largest economies. So much for the USD as the only currency to trade against the minor currencies of the world! http://youtu.be/H0e5BJAYo-U
Views: 2363 ForexConspiracy
President Xi: China to stick to reforms in RMB exchange rate
 
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China's stock markets are in self recovery and adjustment mode after the recent ups and downs, and China will continue reforms that allow the RMB to float both ways, Chinese President Xi Jinping said during a speech at the 3rd China-US Governors Forum in Seattle on Tuesday. Subscribe to us on Youtube: https://www.youtube.com/user/CCTVNEWSbeijing Download for IOS: https://itunes.apple.com/us/app/cctvnews-app/id922456579?l=zh&ls=1&mt=8 Download for Android: https://play.google.com/store/apps/details?id=com.imib.cctv Follow us on: Facebook: https://www.facebook.com/cctvnewschina Twitter: https://twitter.com/CCTVNEWS Google+: https://plus.google.com/+CCTVNEWSbeijing Tumblr: http://cctvnews.tumblr.com/ Weibo: http://weibo.com/cctvnewsbeijing
Views: 428 CGTN
First yuan shares to trade outside China make debut on HKong exchange
 
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(29 Apr 2011) 1. Wide of listing ceremony of Hui Xian Real Estate Investment Trust at Hong Kong Stock Exchange 2. Pan of representatives of Hong Kong Stock Exchange, company executives and guests on trading floor 3. Wide of electronic board reading: (English) "Congratulations on the listing of Hui Xian Real Estate Investment Trust" 4. Wide of ceremony on trading floor 5. Cutaway of cameraman 6. Wide of Kam Hing Lam, Hui Xian Reit Chairman and Non-Executive Director speaking 7. SOUNDBITE (English) Kam Hing Lam, Hui Xian Reit Chairman and Non-Executive Director: "This is the first time a REIT (Real Estate Investment Trust) is denominated in renminbi in the world, this is the first time a renminbi is traded in the stock exchange outside China, it has a lot of significance, it has a lot of historical event, so in itself, the listing has a lot of meaning, so from that angle, it's very very meaningful, and I am very happy with the fact that it has been successfully listed today." 8. Wide of Charles Li, Chief Executive Officer of Hong Kong Exchanges & Clearing Limited 9. SOUNDBITE (Mandarin) Charles Li, Chief Executive Officer of Hong Kong Exchanges & Clearing Limited: "It's not merely a Hong Kong dollars converted into renminbi product, the more important significance is to pave way for renminbi to become international in the future. The renminbi investment product provides a new and important way for Chinese to invest gradually outside China." 10. Wide of trader watching the ceremony 11. Pan of ceremony on trading floor STORYLINE The first yuan-denominated shares to trade outside of mainland China made their debut in Hong Kong on Friday in a landmark initial public offering as Beijing seeks to broaden the use of its currency. Units in Hui Xian Real Estate Investment Trust fell to 5.1 yuan (0.78 US dollars) shortly after trading began from the offer price of 5.24 yuan (0.8 US dollars), which was at the bottom end of the proposed issue price range. The initial public offering raised 10.48 (b) billion yuan (1.6 (b) billion US dollars). Investor interest in financial products is surging because of the growing strength of the yuan, also known as the renminbi. "This is the first time a REIT (Real Estate Investment Trust ) is denominated in renminbi in the world, this is the first time a renminbi is traded in the stock exchange outside China, it has a lot of significances," said Kam Hing Lam, Chairman and Non-Executive Director of Hui Xian Reit. Hui Xian's sole asset is the Oriental Plaza, a complex in Beijing controlled by billionaire Li Ka-shing, Hong Kong's richest man. Two (b) billion units in the trust, or 40 percent, were sold to investors. The remaining 60 percent of the trust will be owned by six companies, including Cheung Kong (Holdings) Ltd. and Hutchison Whampoa Ltd., both controlled by Li, and Bank of China Ltd. Oriental Plaza consists of a shopping mall, office and apartment towers and the Grand Hyatt Beijing hotel. Investors and other companies looking to launch their own yuan stock offerings will be keenly watching the results. Beijing is promoting Hong Kong as a platform for yuan-based international banking. "The renminbi investment product provides a new and important way for Chinese to invest gradually outside China," said Charles Li, CEO of Hong Kong Exchanges & Clearing Ltd. Hong Kong is a former British colony that was handed back to China in 1997, but maintains its own political and financial systems and currency, the Hong Kong dollar. Hong Kong banks started handling yuan in 2004 and now offer services including deposits, credit cards and trade financing that allows foreign companies to pay Chinese business partners in yuan. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/94b1ac0d83f514573d53b3573fb05a20 Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Views: 56 AP Archive
Pockets Full? Know how to Exchange Money in Chinese
 
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Changing money 换钱 (huàn qián) is an essential part of traveling. Don't be without Chinese renminbi (RMB) when visiting China. Learn the language; take it to the bank! More HERE:http://goo.gl/Xh9oYR
Views: 1093 eChineseLearning
The Renminbi devaluation: how does this change Chinese’s travel plans?
 
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"Rate-by-rate travel" is the latest Chinese guide when it comes to picking holiday destinations. The value of the yuan went up by over 20% against the Japanese Yen in the past year, making Japan the hottest holiday destination for Chinese tourists in June. However, the value of the yuan has dipped against the greenback after the Chinese central bank adjusted the pricing scheme of renminbi’s central parity rate in mid-August despite of recent recovery. Subscribe to us on Youtube: https://www.youtube.com/user/CCTVNEWSbeijing Download for IOS: https://itunes.apple.com/us/app/cctvnews-app/id922456579?l=zh&ls=1&mt=8 Download for Android: https://play.google.com/store/apps/details?id=com.imib.cctv Follow us on: Facebook: https://www.facebook.com/cctvnewschina Twitter: https://twitter.com/CCTVNEWS Google+: https://plus.google.com/+CCTVNEWSbeijing Tumblr: http://cctvnews.tumblr.com/ Weibo: http://weibo.com/cctvnewsbeijing
Views: 323 CGTN
Trading in Chinese currency begins in Taiwan
 
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1. Close-up sign reading Chinese Yuan in Chinese characters 2. Wide of foreign exchange rates board 3. Various shots of Chinese Yuan notes being counted by counting machine 4. SOUNDBITE (Mandarin): Wang Wen-lung, Deputy general manager of foreign department of Mega International Commercial Bank: "If we receive counterfeit notes of Chinese Yuan worth under US Dollars 200, our bank will confiscate the notes. If the value is over USD 200, we will call the police." 5. Close-up one counterfeit and one genuine Chinese Yuan note 6. Wang pointing out differences 7. SOUNDBITE (Mandarin): Wang Wen-lung, Deputy general manager of foreign department of Mega International Commercial Bank: "Once the Chinese mainland tourists come in, there will be more banks which offer this exchange service. Then it will help decease our costs. In that case, the exchange rate will decrease too." 8. Tilt down from sign reading "Currency Exchange" to money counting machine 9. Close-up Chinese Yuan bill 10. Tilt down sign showing domestic flight details to foreign exchange counter 11. Foreign Exchange sign reading "Chinese Yuan exchange" in Chinese characters STORYLINE: The Chinese Yuan was on Monday officially available for exchange in Taiwan's local banks, paving the way for the arrival of mainlanders on charter flights this Friday. A person can exchange the equivalent of 20-thousand yuan or 88-thousand New Taiwan dollars (2,912 US dollars) at one time, Taiwan Central Bank had announced last week. Currently the yuan, or RMB which stands for Renminbi in Mandarin, can only be traded legally on Kinmen and Matsu, two islands close to the Chinese coast, which Taiwan retained after it split from the mainland in 1949. However, a strong gray market supports its exchange in Taipei and other major Taiwanese cities. Wang Wen-lung, deputy general manager of foreign department of Mega International Commercial Bank, said the bank has shown staff on how to recognise counterfeit RMB notes. "If we receive counterfeit notes of Chinese Yuan that worth under US Dollars 200, our bank will confiscate the notes. If the value is over USD 200, we will call the police," he said. The current exchange rate for RMB is 4.554 Taiwanese dollars. The rate is maintained relatively high due as the costs for banks to buy RMB is high too, added Wang. "Once the Chinese mainland tourists come in, there will be more banks which offer this exchange service. Then it will help decease our costs. In that case, the exchange rate will decrease too," he said. About four (m) million Taiwanese visit China yearly. Under a new agreement between Taiwan and China that will take effect this week, an estimated 300-thousand Chinese tourists could visit Taiwan every year. The first charter flight across the Taiwan Straits will be launched on July 4, and the direct visit by mainland visitors will begin on July 18. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/31df5bdf394e2a982cf96d35f8d08770 Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Views: 203 AP Archive
China's Fixed Exchange Rate - ECON 332 Presentation
 
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Powerpoint Creation & Animation Credit - Melanie Petersen Audio Credit - Eric Neo Video Editing - Mitch Patterson Script Creation - Steven Li, Melanie Petersen, Eric Neo, Mitch Patterson
Views: 1299 Mitchell Patterson
Investing in China's Currency, the Renminbi Yuan
 
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Explores reasons to consider investing in the renminbi yuan, China's currency, with the Guinness Atkinson Renminbi Yuan & Bond Fund.
Views: 3813 GuinnessAtkinson
the relationship between the current account balance and exchange rates of RMB against USD
 
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A nation's balance of payments measures all economic transactions between that nation's people and the people of all other nations. A country that spends more on imports than it earns from the sale of its exports is said to have a trade deficit. Such imbalances have become controversial topics of debate in political and economic circles, particularly over the last decade as the Chinese economy has emerged as the world's largest exporter. As goods and services flow from one country to another, the exchange rates of those countries' currencies tend to fluctuate to promote balanced trade between the two nations. However, in some cases, most notably China, a country's central bank will intervene in the market for its own currency to manage its exchange rate against that of a trading partner. When such interventions occur, the normal, moderating effect that rising and falling exchange rates has on trade flows is disrupted, and trade imbalances can become persistent. This Video illustrates how trade flows should lead to appreciation and depreciation of currencies in a floating exchange rate system, and then explain how in the case of China, central bank policy aimed at buying large quantities of US government debt keeps the supply of Chinese currency high in the US and the demand for US dollars high in China. This means the dollar remains stronger than it otherwise might relative to the Chinese RMB, contributing to the persistent trade deficits the US exhibits in its trade with China.
Expert: RMB's depreciation is another step toward market-oriented exchange rate system
 
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China's central bank has announced a new way of managing the exchange rate to better reflect market forces. This has fueled rumors about government manipulation to bolster flagging export and a possible currency war. But experts say the depreciation of RMB is just temporary growing pains.
Views: 223 New China TV
China's RMB Exchange Rate With Dollar Rises, But Devalues Internally
 
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Follow us on TWITTER: http://twitter.com/cnforbiddennews Like us on FACEBOOK: http://www.facebook.com/chinaforbiddennews Chinese people are mocking rising exchange rate prices for the Renminbi, despite it having devalued inside China. One young man was interviewed by China's Central Television (CCTV) during the Third Plenary Session of the Chinese Communist Party (CCP). He highlighted that this is the issue of "most concerns for reforms". Analysts say that the RMB has been repeatedly devalued in China. However, the exchange rate against the dollar has continued to rise. The result is that the Chinese people can't afford to live, and foreign companies are constantly complaining. On November 12, the four-day party meeting came to a close. Prior to this, a CCTV reporter interviewed Chinese people on the street, with many responding that they didn't know what the Third Plenary Session was about. Instead, people complained about increasing house prices, and expensive medical care. One man said that the "RMB is in a sorry state for the Chinese people." Hua Po, current affairs commentator: "RMB has repeatedly depreciated, but the price of goods has risen. The exchange rate for the RMB against the dollar has continually risen. For ordinary Chinese people, prices are higher, but their incomes can't pay their bills. Thus, they complain everyday about the high prices." Hua Po says that foreign trade companies are also complaining. Because RMB exchange rates are constantly rising, their export competition has been deeply weakened. Who is benefiting from this situation? Hua Po: "The privileged groups within the CCP can benefit. This is because they can push the prices very high inside China, and thus make the RMB devalue. Once they acquire devalued RMB, they can exchange it to dollars at a good rate, and then transfer it abroad. This system has become very profitable." Chinese state media reported that 'Grandma Li' went to buy rice in a market. She found the price went up to 6.6 yuan per kilogram, and could remember that it was 3.8 yuan per kilogram in 2005. Lan Jiping, Professor at Capital University of Economics and Business in Beijing, also took rice as an example. Lan calculates the value for 1000 yuan, which is equivalent to 576 yuan in 2005. It means that 1000 yuan has lost value by 424 yuan within eight years. Money Weekly reported that cloth was worth a few dozen yuan in the past. It is now selling for over a thousand yuan. Property prices have risen from several thousand yuan per square meter to between 30,000 to 40,000 yuan. Taking these cases as examples indicates that RMB has devalued by 500% within eight years. Gong Shengli, researcher, China Financial Intelligence Unit:"Chinese people's income hasn't increased accordingly. Who should pay them money? Civilians have to pay more, but they don't get the income they need to do so." Hong Kong's Oriental Daily describes that China is the worlds largest bank note printing country. At the end of 2012, China's money supply reached 97.4 trillion yuan. This is nearly taking up 25% of the global total, and is 1.5 times greater than the US. The report says that the madness of printing money is equivalent to simply ripping off it's civilians. Zhu Xinxin, former editor, Hebei People's Radio Station:"The CCP uses different ways to plunder from its citizens, some of which are visible, the others invisible. There are so many different taxes and fees, which civilians become heavily burdened by." Zhu Xinxin suggests that large amounts of bank notes have been printed, resulting in the rich becoming richer, and the poor becoming poorer. Rich people are using financial leverage to increase their wealth, and poor people are finding it difficult to survive. Zhu Xinxin: "CCP propaganda of China as a prosperous nation is an entirely illusory image. The truth is one of rich officials and poor civilians. Actually, the privilege group of CCP officials have seized the national assets in their hands." Sources indicate that 0.4% of the Chinese people have seized 70% of China's wealth. The high-level CCP, and the families of officials and princeling covert both the money and land. They launder the money, and their assets have reached thousands of billions of yuan. Sources say that PetroChina, China Mobil, Industrial and Commercial Bank, and other major state-run companies' were listed on the US stock market. US The state-run People's Tribune newspaper has reported that in 2009, relevant organs announced the 3,000 richest Chinese families. These families' wealth has a net worth of 1.69 trillion yuan. The article admitted that two out of three resources of the richest families are "red families and red businessmen." 《神韵》2013世界巡演新亮点 http://www.ShenYunPerformingArts.org/
Views: 819 ChinaForbiddenNews
Chinese Currency - Yuan
 
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Want to know the currency in China? Visit http://currencyname.com/china to learn more about Chinese currency and the latest exchange rates. What currency to use in China? The Chinese currency is the Yuan. What is the symbol for Chinese Yuan? The Chinese Yuan symbol is ¥. What is the Chinese currency ISO code? The ISO code for Chinese currency is CNY. What are the frequently used notes in China? The Chinese currency notes consist of RMB 0.1, RMB 0.2, RMB 0.5, RMB 1, RMB 2, RMB 5, RMB 10, RMB 20, RMB 50, RMB 100. What are the frequently used coins in China? The Chinese currency coins consist of RMB 0.1, RMB 0.5, RMB 1.
Views: 489 Currency Name
U.S. RMB exchange rate accusation unjustified: experts
 
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Experts say the U.S. accusation that China's currency, renminbi, remains "significantly undervalued" is not justified.
Views: 60 New China TV
HK banks to offer Chinese currency deposit services
 
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1. Various exterior shots of Bank of China Hong Kong 2. Various exteriors of the Hong Kong and Shanghai Banking Corporation Limited 3. Wide interior of the Hong Kong and Shanghai Banking Corporation Limited 4. Close up a sign showing bank services 5. Various a bank teller counting Renminbi notes 6. Wide of putting Renminbi notes into a note-counting machine 7. Close up notes coming through from the machine 8. Various set up of Vincent Kwan, Chief Economist of Hang Seng Bank Hong Kong 9. SOUNDBITE (English) Vincent Kwan, Chief Economist of Hang Seng Bank Hong Kong: "Hong Kong will become the first city outside mainland China that can offer investors a first taste of Renminbi financial services. So in this sense it''''''''s a giant step for mainland China actually, because by allowing Hong Kong people to exchange Hong Kong dollars into Renminbi though with their limit, it still represents a relaxation of capital control by mainland China. In such a case, I think probably it paves way for future relaxation in the future." 10. Wide of Vincent Kwan 11. SOUNDBITE (English) Vincent Kwan, Chief Economist of Hang Seng Bank Hong Kong: " By allowing them (mainland visitors) to use credit card in Hong Kong, effectively, they lifted the limit of these outgoing visitors in carrying money in Hong Kong, currently they are limits for them. I think for Hong Kong financial services and Hong Kong as a financial centre, it''''''''s very important that funds are being gathered in a place and Hong Kong can provide all kinds of financial services." 12. Wide of an exchange shop 13. Mid of customers exchanging money 14. Sign writing money exchange 15. Various of commercial buildings in Hong Kong 16. Various of street scenes in Hong Kong STORYLINE: Hong Kong banks can begin to offer individual Renminbi (RMB) services including deposit, exchange, remittance and credit card to their customers on a trial basis on Wednesday. Bank of China Hong Kong (BOCHK), Hong Kong''''''''s second largest bank, starts to provide Renminbi savings and fixed deposits with maximum interest rates of up to 0.5 per cent and up to 0.55 per cent per annum respectively. As for exchange services, BOCHK, the only Renminbi clearing bank in the territory appointed by the People''''''''s Bank of China, provides RMB banknote and HKD (Hong Kong dollar) two-way exchange service to personal customers. Each customer is entitled to exchange up to 20,000 yuan (around 2,400 US dollars) through a deposit account. The Chief Economist of Hang Seng Bank, Vincent Kwan, said that he does not think the RMB deposit service will have a significant impact on the economy immediately, with daily personal exchange limits currently fixed at 20,000 yuan. He added that the significance of the RMB banking service is more symbolic than functional. Apart from Renminbi deposit services, Vincent Kwan added that allowing mainland visitors to use credit cards in Hong Kong helps remove barriers to the flow of funds between mainland China and Hong Kong. The maximum interest rates offered among Hong Kong banks for Renminbi savings deposit are between 0.5 to 0.75 per cent, and fixed deposit are between 0.55 to 0.78 per cent per annum. The rates are higher than that offered in Hong Kong dollars saving accounts. The Hong Kong and Shanghai Banking Corporation Limited has no firm date when it intends to start the RMB services yet. Exchange shops currently provide currency exchange services including the RMB in Hong Kong. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/894763872b5078b71e90f8be5f55e880 Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Views: 414 AP Archive
China's Renminbi embracing internationalization
 
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Commonly we call it Yuan, but the official name of the Chinese currency is Renminbi which is translated to English as: "the people's currency". In reality, the Yuan is the basic unit of the Renminbi. Widely used in its abbreviation RMB, the Renminbi entered into circulation on December 1, 1948. The People's Bank of China is the institution responsible for the administration of the currency's circulation and keeping the exchange rate balanced. Since the reform and opening-up, China has developed after decades of rapid economic growth, into the biggest world exporter and the second largest world economy after the United States, overtaking Japan. The internationalization of the Renminbi is very impressive. In only two years the Renminbi has become one of the five most used currencies in the world. It's importance can be shown by the possible addition to the International Monetary Fund's (IMF) basket of currencies which currently includes the U.S. dollar, the Euro, the British Pound and the Japanese Yen. Every five years the Executive Director of the IMF examines options to widen the currency basket. If the Chinese currency is accepted at the end of 2015, the Reminbi will be known as a fundamental agent and necessary in the international financial balance.
Views: 1315 New China TV
ECB shifts dollar reserves to Chinese yuan
 
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The European Central Bank (ECB) said it shifted 500 million euro (about 577 million US dollars) worth of its US dollar reserves to the Chinese yuan in the first half of this year. Is it a nod to growing international ties between the EU and China? The use of Chinese renminbi (RMB) as a global foreign currency has increased in recent years. A year after the International Monetary Fund (IMF) recognized the RMB as a global reserve currency, the ECB sold off a fraction of its US dollar holdings and bought 500 million Euros (about 577 million US dollars), worth of RMB. Subscribe to us on YouTube: https://goo.gl/lP12gA Watch CGTN Live: https://www.youtube.com/watch?v=L2-Aq7f_BwE Download our APP on Apple Store (iOS): https://itunes.apple.com/us/app/cctvnews-app/id922456579?l=zh&ls=1&mt=8 Download our APP on Google Play (Android): https://play.google.com/store/apps/details?id=com.imib.cctv Follow us on: Facebook: https://www.facebook.com/ChinaGlobalTVNetwork/ Instagram: https://www.instagram.com/cgtn/?hl=zh-cn Twitter: https://twitter.com/CGTNOfficial Pinterest: https://www.pinterest.com/CGTNOfficial/ Tumblr: http://cctvnews.tumblr.com/ Weibo: http://weibo.com/cctvnewsbeijing
Views: 7249 CGTN
7-Eleven to begin offering Chinese yuan currency exchange
 
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Next month three 7-Eleven outlets will begin offering conversion of Chinese yuan into the New Taiwan dollar. The service has sparked some concerns, however, about potential impact to Taiwan’s currency sovereignty. Beginning Feb. 1, 7-Eleven will offer currency conversion of Chinese yuan into NT dollars. Only one-way transactions will be permitted, meaning 7-Eleven will only accept yuan and not convert NT dollars into yuan. Also, there is a daily cap on transactions, with each individual limited to converting 20,000 yuan a day.In 2012, FamilyMart had three stores which began offering this service, though only individuals with entry/exit permits were able to exchange yuan based on rates set by Taiwan Bank. 7-Eleven will only accept 100 yuan notes and will charge a NT$40 service fee. Family Mart accepts all banknotes and doesn’t charge a service fee.TouristI think it will be handy if convenience stores offer conversion of yuan. Going to a bank is troublesome.While tourists say it will be more convenient, some lawmakers believe that widespread use of the yuan will compromise Taiwan’s currency sovereignty.Lai Chen-changTSU LegislatorWe think this could be a very serious problem. If conversion of the yuan becomes more commonplace, the next step could be circulation and use of this currency. Taiwan’s economic and currency sovereignty would be united with China. 7-Eleven hopes to eventually expand the service to other outlets. It sees scale reaching up to NT$100 million.
Views: 582 Formosa EnglishNews
Why make the renminbi fall? | FT Comment
 
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► Subscribe to the Financial Times on YouTube: http://bit.ly/FTimeSubs FT emerging markets editor James Kynge talks to Izabella Kaminska about the implications and motivations behind the increased flexibility of China's exchange rate mechanism. For more video content from the Financial Times, visit http://www.FT.com/video Twitter https://twitter.com/ftvideo Facebook https://www.facebook.com/financialtimes
Views: 2657 Financial Times
The relationship between the Current Account Balance and Exchange Rates
 
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This lesson will illustrate how trade flows should lead to appreciation and depreciation of currencies in a floating exchange rate system, and then explain how in the case of China, central bank policy aimed at buying large quantities of US government debt keeps the supply of Chinese currency high in the US and the demand for US dollars high in China. This means the dollar remains stronger than it otherwise might relative to the Chinese RMB, contributing to the persistent trade deficits the US exhibits in its trade with China. Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870
Views: 109652 Jason Welker
People's Bank of China to Facilitate RMB Exchange in London featuring Chris Devonshire-Ellis
 
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Chris Devonshire-Ellis, Founding Partner & Principal of Dezan Shira & Associates, is interviewed by Dukascopy TV about the three year reciprocal currency swap facility between China and London. For further information about the currency swap between China and London, please see here: http://bit.ly/16jreHR
Views: 88 Dezan Shira
THE BIG PICTURE: Chinese yuan gains international acceptance
 
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China is home to the world's second largest economy. But as time goes by the question remains: what will it take for the Yuan to become a true global currency? CGTN's Cheng Lei gives us a look at the big picture.
Views: 7833 CGTN America
🇨🇳 China's 'petro-yuan': The end of the dollar hegemony? | Counting the Cost
 
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In an attempt to reshape the global oil market, the Shanghai International Energy Exchange has launched the first crude futures contracts priced in Chinese reminbi, or yuan. China, the world's biggest oil importer buys around nine million barrels of oil every day and it wants to use its own currency to price the world's most-traded commodity. The US dollar has been the main currency for oil futures contracts, so launching a contract in its domestic currency is a sign that China wants the yuan to play a bigger role in global oil trading. China is also taking on the world's most used oil benchmarks, Brent and WTI crude, which are both priced in dollars. But Shanghai-traded oil is still far away from earning benchmark status and taking on the petrodollar won't be easy. "For now, it doesn't mean many changes. Oil is still going to trade in the US dollar, but increasingly over time, there will be more transactions ... but this is not a gamechanger, yet," Michal Meidan, Asia analyst for Energy Aspects, tells Counting the Cost. "The goal is for China to establish an Asian benchmark that will reflect Chinese consumption and more broadly Asian demand patterns", but he believes "it's highly unlikely" that the yuan will challenge the dollar in the near future. Meidan explains that the Chinese yuan would have to become "freely convertible, we would need other countries to open up to settlement in the renminbi; but the primary issue will be currency convertibility. And for now, the Chinese government is very reluctant to loosen currency controls and to give it up to free trade." "It's unlikely China will loosen the reigns on their currency", says Meidan, "It's very hard to see that happening in the coming five years. They still have a lot of domestic challenges that they need to meet and the government and Xi Jinping are in agreement that the state and the party needs a very firm control over that [currency]. If liberalisation was the trend in the 1990s, I think we're very much seeing a reversal of that. China is very much willing to become a global player, but under its own terms. And whether the global market or global investors are happy to take that on - I think we're not seeing a huge amount of appetite for that yet." Also on this episode of Counting the Cost: Tech giants: Technology stocks have had a dramatic week. At one point the so-called "FANG" stocks of Facebook, Amazon, Netflix and Google saw their worst one-day loss as a group. But by Thursday, they managed to end the quarter higher. It's all because the business models of tech titans like Facebook have been getting more attention from regulators. Micro-targeting: Facebook is promising to end partnerships with several data brokers that help advertisers target people on the social network. The company is trying to limit the fallout from allegations that the British firm, Cambridge Analytica, improperly accessed user data to influence the 2016 US elections, as Jonah Hull reports from London. Amazon tax: Reports that US President Donald Trump is looking to change the way online retailer Amazon is regulated sent its share price plummeting earlier this week. At one point stocks fell by as much as 7.4 percent, wiping more than $50bn from Amazon's market value. Katia Lopez-Hodoyan reports from Washington, DC. Saudi solar: Saudi Arabia and Japan's Softbank signed up to a $200bn solar mega-plan. It will feature the biggest battery ever made and networks of solar panels across the Saudi Arabian desert. But several analysts cautioned the current agreement is not binding and could be revised. Somalia tax: Anger is growing from consumers in Somalia over the rising cost of shopping and eating out. It's because of the five percent sales tax, the first sales tax in nearly 30 years. The government says the levy is crucial for Somalia's economic recovery, as Mohammed Adow reports from Mogadishu. Africa CEO Forum: The annual Africa CEO Forum's two-day event held in Ivory Coast featured discussion and debate around the economic and industrial challenges facing the African continent. It comes just one week after the leaders of 44 African countries signed a framework deal to create one of the world's largest free trade blocs. But Nigeria and South Africa, two of the continent's biggest economies have yet to sign up. Cyprus tourism: Tourism is booming in Cyprus, as the island works to recover from a damaging financial crisis five years go. Not all areas, though, are reaping the rewards of those seeking sunnier shores. More from Counting the Cost on: YouTube - http://aje.io/countingthecostYT Website - http://aljazeera.com/countingthecost/ - Subscribe to our channel: http://aje.io/AJSubscribe - Follow us on Twitter: https://twitter.com/AJEnglish - Find us on Facebook: https://www.facebook.com/aljazeera - Check our website: https://www.aljazeera.com/
Views: 104856 Al Jazeera English
Secret Images in China Money
 
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The reverse side of all the RMB banknotes from China are engravings that depict real life places in China. Learn the famous secret places of those pictures from the Chinese paper money revealed in this video. All the notes have the same obverse pic of Mao ZeDong, but the back of the note has different scenery depicted. If you collect money or are a numismatist, this video is very informative and educational on RenMinBi Yuan paper notes. All the famous places are historical sites and are tourist destinations in China. The notes are: 1 Yuan RMB, 5 Yuan RMB, 10 Yuan RMB, 20 Yuan RMB, 50 Yuan RMB, and 100 Yuan RMB. The places are: Three Pools Mirroring the Moon, Mount Tai, The Kui Gate, Li River, Potala Palace, and The Great Hall of the People, respectively.
Views: 5905 edepot
China Travel Tips: Money Currency Exchange - Part 3
 
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How to change Money in China, forms to be filled - Bank of China -
Yuan strength softens chinese demand for foreign currency | Hot News
 
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Yuan strength softens chinese demand for foreign currency SUBSCRIBE my channel here: https://goo.gl/F8gn4Z source video: http://c.newsnow.co.uk/A/2/902742108?-18803:4733:0 G+ here: https://goo.gl/UzMJVe ---------------------------------------------------------------------------------------------------- Banks in China sold $3.8 billion more foreign exchange than they bought last month, down from $15.5 billion in July and $9.5 billion a year earlier. Smaller net sales of foreign exchange by banks indicate a recovery in demand for yuan among Chinese individuals and companies. Photo Visual China Beijing — Demand for foreign exchange in China fell to its lowest level in more than two years in August, government data show, as capital outflows eased due to tightened scrutiny and expectations for continued strengthening of the yuan diminished the appeal of other currencies. Banks in China sold $3.8 billion more foreign exchange than they bought last month, according to data released by the State Administration of Foreign Exchange SAFE on Monday. Although that was the 26th straight month of net sales, the figure was down from $15.5 billion in July and $9.5 billion a year earlier. Smaller net sales of foreign exchange by banks indicate a recovery in demand for yuan among Chinese individuals and companies. “China’s economy has continued to stabilize and improve, which boosted market confidence,” an unnamed SAFE official said in a statement accompanying the data release. “The yuan’s exchange rate … stabilized and strengthened, leading expectations and transactions by domestic participants in the foreign exchange market to become more rational. Market Expectations “Looking ahead, Chinas crossborder capital flows are expected to remain stable, orderly and generally balanced as economic fundamentals improve further, opening up deepens and market expectations continue to stabilize,” the official said. Breaking down the numbers, banks sold a net 27.6 billion yuan $4.21 billion of foreign exchange last month on behalf of their clients, the lowest amount in a year and down from 42.8 billion yuan in July and 92.3 billion yuan in June. But banks bought a net 2.1 billion yuan of foreign currency for themselves, bringing the total down to 25.6 billion yuan, equivalent to $3.8 billion, SAFE said. After depreciating 6.5% against the U.S. dollar last year, the yuan has unexpectedly strengthened this year, with a strong rally of around 2% in August that took its appreciation in the first eight months of the year to around 5.7%. The yuan has benefited from the weakness of the dollar amid concerns over the economic policies of President Donald Trump, and from moves by the Chinese government to support the currency through measures such as tightened scrutiny of capital outflows an... ----------------------------------------------------------------------------------------------------
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Official RMB inclusion in SDR to benefit Indonesia's trade with China
 
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Indonesia Central Statistics Agency predicts that the exchange value of China's Renminbi against Indonesia's rupiah will be higher after the RMB's inclusion in IMF's SDR basket. A senior official of the bureau said Renminbi will be stronger because of the increasing demand of the currency.
Views: 149 New China TV
RMB Depreciation Will Have Little Impact on China's Economy: Official
 
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The depreciation of the Chinese currency yuan will have little impact on the country's economy, said Wang Bao'an, director of the National Bureau of Statistics, on Tuesday. "The depreciation of renminbi is triggered by two factors, both domestic and foreign ones. One of them is the appreciation of the U.S. dollar. That's a practical reflection in China. The appreciation of the U.S. dollar brings about the depreciation of renminbi. I think the depreciation of renminbi and the reduction of foreign exchange reserve won't influence the Chinese economy much, or not that obvious, because its impact is quite small on China, a country that has more than three trillion U.S. dollars foreign exchange reserves," said Wang Bao'an at a press briefing on Chinese economic performance. Wang said the depreciation of yuan will not continue as a trend as he believes the Chinese economy will continue to grow at a medium-to-high speed in the coming years. "In the long run, the depreciation of yuan will not become a trend, as we are now quite confident about the growth of the Chinese economy. I think the Chinese economy will continue to grow at a medium-to-high speed in the next period, which will become a normal state. The general economic growth momentum has not changed," he said. More on: http://newscontent.cctv.com/NewJsp/news.jsp?fileId=337409 Subscribe us on Youtube: https://www.youtube.com/channel/UCmv5DbNpxH8X2eQxJBqEjKQ CCTV+ official website: http://newscontent.cctv.com/ LinkedIn: https://www.linkedin.com/company/cctv-news-content? Facebook: https://www.facebook.com/pages/CCTV/756877521031964 Twitter: https://twitter.com/NewsContentPLUS
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Exchange Rate - China Outbound Travel Pulse - Episode 4
 
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In recent years, exchange rate fluctuations against the Chinese RMB have become more common. But does this really affect how Chinese choose to travel and spend overseas? With interviews with Chinese tourists and statistical analysis, we look at which countries are most impacted by changing currency values and why.