Tag: PBOC

weekly markets analysis
April 27, 2020 BY Steffy Bogdanova

Weekly data preview: all eyes on central banks

Wednesday is the big day this week for dollar-yen, with advance quarterly GDP data from the USA coming ahead of the FOMC’s meeting. Very poor data is already priced in but how the Fed interprets the figures might be key for ongoing direction in the latter part of the week. Key data points Wednesday 29…

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January 26, 2017 BY Valentina Kirilova

Bank of China to try digital currency system

The People’s Bank of China (PBOC) has completed a successful trial run of a digital bank acceptance exchange, moving it closer to becoming the first central bank in the world to research and test its own digital currency, according to media agency Caixin. Citing sources from the PBOC, Caixin claims the central bank on December15…

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December 10, 2016 BY admin

China launches 7 new direct currency pair links with renminbi

The China Foreign Exchange Trade System (CFETS), the interbank trading and foreign exchange division of China's central bank, the People's Bank of China (PBoC) has announced 7 new direct renminbi trading links. The seven  currencies which PBoC will launch direct trading as of Monday, December 12th include the Turkish lira (TRY), Polish zloty (PLN), the…

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September 21, 2016 BY Mike Fox

Chinese RMB gets first clearing bank in the US

The People's Bank of China (PBOC), China’s central bank announced today it authorized Bank of China's (BOC's) New York branch to provide Renminbi (RMB) clearing services in the United States.  It is the first time for China to set up an RMB clearing bank in the United States. The decision was made according to a…

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March 02, 2016 BY LeapRate Staff

Russia looks to circumvent Western sanctions with China Forex swap

The Bank of Russia is reporting that Russia and China have agreed to open a bilateral Forex swap line, to boost trade and investment cooperation. Largely cut off from global capital markets by Western sanctions, Russia is stepping up efforts to secure access to external funding, including setting plans for a sovereign Eurobond later this year. The…

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January 18, 2016 BY Mike Fox

PBoC raises the reserve ratio requirement on offshore yuan

Today we learned from multiple reports emanating from the People's Bank of China (PBoC) that the Chinese central bank is going to place a reserve requirement on offshore renminbi, still mostly traded through Hong Kong banks. The move could be aimed at discouraging speculators that continue to bet that the CNH - offshore yuan could go lower. This all…

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December 30, 2015 BY Maria Nikolova

China's c-bank puts on hold Forex operations of some foreign banks

The People's Bank of China (PBOC) has issued suspension notices to at least three foreign banks regarding their Forex businesses, in a move underlining the stringent controls of the financial sector in China. According to a Reuters report, citing anonymous sources with knowledge of the matter, China's central bank has suspended the banks from conducting…

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December 29, 2015 BY Maria Nikolova

People's Bank of China publishes rules for online payments

People's Bank of China (PBOC) on Monday published details regarding regulations of the booming online payments sector, which are set to come into effect on July 1, 2016. The new rules restrict the size of payments done from non-bank payment accounts and introduce certain requirements for registration. In particular, the size of payments through such…

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