View Full Version : Yuan. One of the top ten currencies worldwide

Hue Mi
09-30-2013, 05:43 AM
Last updated: sat, 28/9/2013, at 11: 29 p.m. local time for Doha

Yuan. One of the top ten currencies worldwide (http://www.raya.com/news/pages/c7c7e1e1-f219-42d4-af4f-39cd7da1ff21)



The Chinese currency "Yuan" for the first time one of the largest currency traded in the world.

According to a report of the Bank (bis) that the (Yuan) recorded rapid progress to become one of the top ten global currencies this year came ninth in terms of the amount of deals, compared to the 17 place according to an inquiry made in 2010.

According to the report, the average daily volume of transactions settled in RMB in April 2013, about 120 billion US dollars, while the volume of transactions in the same currency in 2010 at around 34 billion dollars, which means increased two and a half times, however this rate stays away from the u.s. dollar rate, which has an average daily trades some (4.7) trillion.

Although the (Yuan) has not been applied in full, the tax free Beijing gradually edit restrictions, and allow for the use of its currency in international transactions, as calculated with: Pakistan, Thailand and South Korea and other countries and regions to exchange currency, while it established with London and Hong Kong and other financial centres, centres for international currency transactions.

09-30-2013, 07:43 PM
Dang !! Why Me..You beat me to it..LOL..Drum roll please..The following announcement is nothing short of being historic..

Shanghai free-trade zone launched

Restrictions on foreign investment will be eased inside the area and interest rates will be set by markets.
translation: Since most policitians of western countries are minority shareholders to their respective major corporations, they will be delighted to know that market shares and hence profits will be shared equally amongst major mega multi-national corporations. So..all the war talk is just that..TALK..
"Interest rates will be set by markets"..Meaning China is bowing to western pressures to revaluate her currency. Since currency and interest rates are manipulated and set by powers that be, I expect interest rate to rise and wereck havoc amongst the world financial markets..cheers to all