Chinese Yuan, Euro, Digital Currencies Challenge US Dollar Dominance, TD Economist Says - A senior economist at financial services firm TD says the Chinese yuan, the euro, ... - https://news.bitcoin.com/chinese-yuan-euro-digital-currencies-challenge-us-dollar-dominance-td-economist-says/ #usdollarreservecurrencystatus #usdollardominance #bricscurrency #chineseyuan #economics #euro #rmb #usd

Over 90 percent of businesses in #Yiwu City, #China's #small-commodity hub, have accepted digital renminbi (#RMB) payment on the city's official digital platform, with more than 60,000 digital yuan wallets opened and deals of over 1 billion yuan (about 145 million U.S. dollars) transacted so far.

https://english.news.cn/20230403/0e016b1645534f68811840cf0380bf6c/c.html

#RMB still 5th most active currency for global payments in February: #SWIFT

-- The Chinese currency #RMB has retained its position as the fifth most active currency for global payments by value in February with a larger share.

-- In February, #RMB payments value gained 7.52 percent from a month ago, compared with the 6.54-decline in that of all payments currencies.

#China

China to keep RMB exchange rate generally stable at adaptive, balanced level.

China should keep the RMB exchange rate generally stable at an adaptive, balanced level in 2023, according to a government work report submitted Sunday to the national legislature for deliberation.

#TwoSessions #RMB

It's one thing to mean "the RMB may become the #3 reserve currency to replace the pound/yen/Swiss franc/etc." That's plausible. It's entirely different to talk of the #RMB replacing the #dollar or #Euro. That's simply a category mistake right now. Maybe things will look different in decades. But the conditions for a "bipolar" USD/RMB "currency regime" simply do not exist, either economically or politically, now or for the foreseeable future.

It's a month, so someone - this time Roubini - is predicting the imminent demise of the dollar as the dominant global reserve currency: https://www.ft.com/content/e03d277a-e697-4220-a0ca-1f8a3dbecb75.

This must sell copy, bc it keeps happening despite all evidence. I'll just keep referring you to the #BIS report showing the #dollar is more dominant than ever (https://bis.org/publ/cgfs65.pdf), & noting that (insert Aragorn_a_day_may_come.gif) the the #RMB is not remotely a viable challenger & won't be for a long time: https://www.washingtonpost.com/politics/2022/06/02/usd-dollar-reserve-currency-economy/

OnlineFirst - "Anticipating Sino-UK fintech networks and the changing geographies of money as infrastructure" by Sarah Hall:

#fintech #financialgeography #CityofLondon #money #RMB

https://journals.sagepub.com/doi/full/10.1177/0308518X221140413

TODAY (1/30) @ 8pm EST, join #DCG201 Co-Founder Sidepocket for #CryptoBarons 💹 as we wrap up #ChineseNewYear🧧looking at #eYuan, the digital finance platform #China is using to replace #cryptocurrency...and why the #USA will be next!

Watch on #Twitch, #YouTube, @peertube, @torproject & @odyseeteam: https://linktr.ee/defcon201

#blockchain #defi #centralizedexchanges #fiat #banking #finance #China #RMB #renminbi #DCEP

I think this news is far more significant than is being officially reported. The lack of confidence in financial institutions here appears to be getting worse.
#ChinaFinance #RMB

RT @Aligarciaherrer@twitter.com

The growing international role of #RMB since the war in #Ukraine is not materializing: #RMB international settlements are down after a spike in February and the same is true for #CNH deposits in #HK. Plus, the worst is yet to come given the sharp #RMB depreciation

🐦🔗: https://twitter.com/Aligarciaherrer/status/1576787626291363840

#RMB - Reality

https://invidious-us.kavin.rocks/watch?v=XHKpcSVfXzo

#Trance #Techno

唉呀

#人民幣 #RMB #CNY

https://www.cna.com.tw/news/firstnews/201908055002.aspx

急了, part 2

#中國 #人民幣 #RMB #CNY

#郭树清 发出警告：投机做空人民币必然遭受巨大损失
http://www.eeo.com.cn/2019/0525/357070.shtml

應該快出事了... XD

#中國 #人民幣 #RMB #CNY

https://udn.com/news/story/7333/3830487