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CHINA could use the digital yuan in a cross-border "regulatory sandbox” program to test capital account convertibility between Shenzhen and Hong Kong, according to a proposal by a senior central bank official.
WHILE the Dollar Index (DXY) was muted at the start of the week, firmer bids were seen towards the end of the week, closing at two weeks high of 90.51 or up 0.53% week-on-week (w-o-w).
SHANGHAI: China’s yuan advanced to a three-year high in onshore markets as the central bank signalled that it’s comfortable with a recent rally by setting a strong daily reference rate.
Summary of business stories on economy, MCO 3.0, cryptocurrencies, AirAsia X, Genting and Maybank from May 17 to 23.
NEW YORK: Bitcoin and other major cryptocurrencies slumped after the People’s Bank of China (PBoC) conveyed a statement reiterating that digital tokens can’t be used as a form of payment.
SHANGHAI (Reuters) - Chinese regulators have tightened restrictions that ban financial institutions and payment companies from providing services related to cryptocurrencies, marking a fresh crackdown on digital money.
SHANGHAI: China's benchmark lending rate is widely expected to stay unchanged for the 13th straight month at its May fixing on Thursday, a Reuters survey showed.
Bitcoin extended its losses at midday on Wednesday, falling below the key US$40,000 level.