Wednesday, November 25, 2015   

Yuan retreats in trade payments ranks
(03-27 16:59)

Use of the yuan as a global payments currency retreated in February, transactions organization SWIFT said.
The yuan dropped back to the 8th most-used currency for payments worldwide, the Society for Worldwide Interbank Financial Telecommunication said, just behind the Swiss franc. In January, the yuan surpassed the Swiss unit to 7th place.
On a value basis, global payments in yuan plunged 8.5 percent in February from January, SWIFT said. It did not give the amount.
SWIFT attributed the fall in ranking and transaction value to the long holiday for the Chinese New Year and the comparatively fewer days in February.
But the yuan weakened for much of February, at one point closing at an eight-month low.—AFP

Other Business breaking news:
US stocks rebound (2 hrs 56 mins ago)
HK stocks lower, CKI and Power Assets shares dip (11-25 11:12)
German execs upbeat over business (11-24 17:41)
Allianz trims coal portfolio (11-24 17:39)
Multi-billion-dollar deals break all-time records (11-24 17:13)
Hang Seng closes lower (11-24 16:46)
Emails between Coke and Global Energy Balance Network (11-24 16:39)
Global Energy Balance Network accommodated Coke’s input (11-24 16:36)
Emails reveal Coke’s hidden hand in shaping anti-obesity group’s public message (11-24 16:15)
Sa Sa earnings dive by 55pc, profit margin shrinks (11-24 16:09)

More breaking news >>

© 2015 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2015, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.