Latest news with #ChinaForeignExchangeTradeSystem
Bloomberg
2 days ago
- Business
- Bloomberg
China's Cheap Funding Breathes Life Into Leveraged Bond Trades
China's efforts to support the economy by keeping funding costs low are increasing lending among banks, in a sign they may be borrowing cheaply to buy bonds for a profit. The daily volume of overnight repurchase contracts, a popular funding tool for such leveraged bond purchases among financial institutions, rose to the highest since December on Wednesday, according to China Foreign Exchange Trade System data.
Ammon
25-03-2025
- Business
- Ammon
Chinese yuan weakens to 7.1788 against USD
Ammon News - The central parity rate of the Chinese currency renminbi, or the yuan, weakened 8 pips to 7.1788 against the U.S. 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 percent from the central parity rate each trading day. The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. Xinhua
