By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-Global lender, the International Monetary Fund (IMF) said on Friday it will separately identify the renminbi (RMB) in its official foreign exchange reserves database starting October 1, 2016. “The change will be reflected in the survey for the fourth quarter of 2016 that will be […]
Tag: Chinese
Nigeria Central Bank to Shift Reserves Into Yuan From Dollars
Nigeria’s central bank plans to shift some of its reserves into yuan from dollars as the Chinese currency takes a greater role in global trade, deputy central bank Governor Kingsley Moghalu said. The bank will increase the yuan’s share of reserves to as much as 7 percent from 2 percent, […]
Asia shares rally as China cools money rates, yen slips
Asian markets sprang higher on Tuesday as Japanese stocks rebounded and Chinese money rates eased, while the U.S. dollar got a fillip from a report the Federal Reserve would again trim its bond buying next week. A drop in the yen helped Tokyo’s Nikkei .N225 rally 1.5 percent and dragged […]
