Free Trial
ITALY AUCTION PREVIEW

New 1.75% May-24 BTP Short Term

SILVER TECHS

Bearish Focus

ENERGY

Rig Counts and COT Data after Close Today

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

MNI BRIEF: PBOC To Facilitate Financial Markets Investment

MNI (Singapore)
SINGAPORE (MNI)
True

The People’s Bank of China pledged to further open up its financial markets as the international Monetary Funds raised the yuan’s weighting in the Special Drawing Rights currency basket, according to a statement on PBOC’s website on Sunday.

The yuan’s weighting was lifted to 12.28% from 10.92% which was set in 2016 when the currency was included in the basket. The weighting of the U.S dollar rose to 43.38% from 41.73%, and that of euro, Japanese yen and British pound reduced to 29.31%,7.59% and 7.44%, respectively, from 30.93%, 8.33% and 8.09%.

Keep reading...Show less
133 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

The People’s Bank of China pledged to further open up its financial markets as the international Monetary Funds raised the yuan’s weighting in the Special Drawing Rights currency basket, according to a statement on PBOC’s website on Sunday.

The yuan’s weighting was lifted to 12.28% from 10.92% which was set in 2016 when the currency was included in the basket. The weighting of the U.S dollar rose to 43.38% from 41.73%, and that of euro, Japanese yen and British pound reduced to 29.31%,7.59% and 7.44%, respectively, from 30.93%, 8.33% and 8.09%.

Keep reading...Show less