Foreign Exchange

China tightens rules on oversea cash withdrawals

Beijing - Muslimchronicle

China has tightened rules on how much cash cardholders can withdraw overseas in a bid to clamp down on money laundering, terrorist financing and tax evasion, authorities said Saturday. The annual limit will be set at 100,000 yuan ($15,355) per person from Monday -- no matter how many cards a person has. Currently, there is an annual ATM cap of 100,000 yuanRead more

China central bank’s net forex sales fall to 10-month low

Beijing - Arab Today

China’s central bank in March sold the smallest amount of foreign exchange in 10 months, reinforcing signs of easing capital outflows due to regulatory curbs and a pause in the dollar’s rally. Net foreign exchange sales by the People’s Bank of China (PBoC) were 54.7 billion yuan ($7.94 billion) last month, according to Reuters calculations based on central bank’s dataRead more

Central Bank of Malaysia's International Reserve $94.6bn

Kuala Lumpur - QNA

The international reserves of the Central Bank of Malaysia (Bank Negara Malaysia) amounted to USD 94.6 billion as on 30 December 2016 compared to USD 95.3 billion at end-2015. The reserves level as at 30 December 2016 has taken into account the adjustment for foreign exchange revaluation changes, the bank said in a statement. The level of reservesRead more

Chinese Yuan Strengthens to 6.9307 against USD Thursday

Beijing - QNA

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 219 basis points to 6.9307 against the US dollar Thursday, according to the China Foreign Exchange Trade System. In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day. The centralRead more

Chinese Yuan Weakens to 6.9498 against USD Tuesday

Beijing - QNA

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 128 basis points to 6.9498 against the U.S. dollar Tuesday, according to the China Foreign Exchange Trading System. In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2% from the central parity rate each trading day, China's News Agency (Xinhua)Read more

Chinese Yuan Weakens to 6.9462 against USD Tuesday

Beijing - QNA

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 3 basis points to 6.9462 against the US dollar Tuesday, according to the China Foreign Exchange Trade System. In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2% from the central parity rate each trading day, China's News Agency (Xinhua)Read more

Chinese Yuan Strengthens to 6.9435 against USD Thursday

Beijing - QNA

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 54 basis points to 6.9435 against the US dollar Thursday, according to the China Foreign Exchange Trading System. In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2% from the central parity rate each trading day, according to China's (Xinhua)Read more

Chinese Yuan Weakens to 6.9468 against USD Tuesday

Beijing - QNA

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 156 basis points to 6.9468 against the US dollar Tuesday, according to the China Foreign Exchange Trading System. In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2% from the central parity rate each trading day. The central parityRead more

Chinese Yuan Weakens to 6.9086 Against USD Monday

Beijing - QNA

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 114 basis points to 6.9086 against the US dollar Monday, according to the China Foreign Exchange Trading System. In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2% from the central parity rate each trading day, China's News Agency (Xinhua) reported. Read more

China's Yuan Strengthens to 6.8779 against US Dollar Tuesday

Beijing - QNA

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 206 basis points to 6.8779 against the US dollar Tuesday, (Xinhua) news agency reported citing the China Foreign Exchange Trading System. In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2% from the central parity rate each trading day. Read more