SG Talk

Just a matter of time.

The correct headline is "Yuan Overtakes Dollar as China’s Most Used Cross-Border Currency".

Good move...

China passed another milestone in its bid to reduce reliance on the dollar, as yuan usage in its cross-border transactions jumped ahead of the greenback’s for the first time in March.

Yuan will keep falling against USD as this dedollarisation and China release more Yuan trading partners and these are sold off for USD

(27-04-2023, 11:12 AM)sgbuffett Wrote: [ -> ]Yuan will keep falling against USD as this dedollarisation and China release more Yuan trading partners and these are sold off for USD

ppl are selling usd for gold lah.

(27-04-2023, 11:12 AM)sgbuffett Wrote: [ -> ]Yuan will keep falling against USD as this dedollarisation and China release more Yuan trading partners and these are sold off for USD

It is due to lower bank reservation rate which is equivalent to lower bank interest rate.  

US FED wanted to lower interest rate all the while but was forced to keep high due to inflation rate is high.  

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