China’s yuan joins top five curriencies

China’s yuan has become one of the five most widely used currencies in global payments, an international financial transactions agency announced Wednesday.

The yuan passed the Canadian and Australian dollars in popularity in December, according to the Society for Worldwide … Read the rest

De-dollarization: Europe and China start direct trading

China will started direct trading between the yuan and the euro today as the world’s second-largest economy seeks to spur global use of its currency.

The move will lower transaction costs and so make yuan and euros more attractive to … Read the rest

South African strikes hurt currency, bonds

South Africa’s rand sank this week to within sight of three-year lows against the dollar as a wave of strikes spread beyond the mining sector, threatening the biggest industrial crisis since the end of apartheid.

After two months of violent … Read the rest