Source: Xinhua – China yuan strengthens to new high against USD
The Chinese currency Renminbi, or the yuan, marched to a new record high against the U.S. dollar on Monday.
Source: RT – Fed up with euro, France flirts with coupon money
Whether buying bread, filling a pharmacy prescription, getting a haircut or going to the doctor, some residents of Montreuil, France, are rejecting the euro in favor of ‘La Peche’, a local community currency.
The yuan has replaced the euro to become the second most widely used currency in global trade in 2013, according to the SWIFT network responsible for international financial transactions.
Source: Bloomberg – PBOC Will ‘Basically’ End Normal Yuan Intervention: Zhou
China’s central bank will “basically” end normal intervention in the currency market and broaden the yuan’s daily trading limit, Governor Zhou Xiaochuan said, without giving a timeframe.