Tag: currency

• Tuesday, May 31st 2011 - 07:43 UTC

  China: Yuan at record high against US dollar; Power shortage and higher prices

  

  China's Yuan has hit a record high against the US dollar after the US Treasury department said the Chinese currency was undervalued but not manipulated. The People's Bank of China (PBOC) fixed the Yuan's mid-point at 6.4856 against the US dollar on Monday.

• Thursday, April 14th 2011 - 19:54 UTC

  BRICS calls for new global monetary system with less reliance on the dollar

  

  The BRICS group of emerging-market powers kept up the pressure for a revamped global monetary system that relies less on the US dollar and for a louder voice in international financial institutions.

• Saturday, April 2nd 2011 - 07:28 UTC

  Brazil planning further taxing on the inflow of “speculative” foreign capital

  

  The Brazilin currency rallied more than 1.0% on Friday closing at its strongest level since August 21, 2008. The Real jumped 1.16% to 1.612 per US dollar. The gains came after a Reuters report that the government has decided to tolerate a Real trading stronger than the 1.65-per-dollar market in the short term.

• Tuesday, March 15th 2011 - 23:47 UTC

  Cuba devalues currency 8% to boost exports and imports substitution process

  

  Cuba devalued its convertible peso by 8% Monday to the level of parity with the US dollar as part of efforts to boost the island's flagging economy, the central bank said. Use of the convertible peso is limited to tourists and other foreigners, for Cubans who receive remittances from abroad and for export activity

• Wednesday, February 16th 2011 - 00:30 UTC

  IMF calls for Yuan and SDRs to play greater role in global finance

  

  IMF chief Dominique Strauss-Kahn said the currencies of China and other emerging economies such as Brazil should play a greater role in global finance, as part of a bid to promote monetary stability

• Tuesday, February 1st 2011 - 00:34 UTC

  Rousseff blasts US and China’s currencies’ “competitive depreciation” policies

  

  Emerging market countries such as Brazil and Argentina must take a stronger position against “competitive depreciations,” Brazilian President Dilma Rousseff told Argentine press on Sunday.

• Thursday, January 27th 2011 - 19:55 UTC

  France and Germany Committed to European Single Currency

  

  European leaders and business people met on Thursday at the World Economic Forum in Davos, Switzerland. President Sarkozy said both he and German Chancellor Angela Merkel were firm in their commitment to the European single currency.

• Thursday, January 6th 2011 - 20:58 UTC

  Slow Start To Chile’s Tourism Season; fewer Argentines than expected

  

  With its vast array of natural attractions and top-class services, Chile is an attractive tourism destination for Latin Americans, as well as global visitors.

• Thursday, January 6th 2011 - 20:48 UTC

  Brazil enforces new reserve requirements to weaken the Real vis-à-vis US dollar

  

  The Brazilian currency Real weakened after the central bank introduced reserve requirements on short positions in U.S. dollars held by local banks with the purpose of weakening the Real which this week reached a historic high against the greenback.

• Wednesday, January 5th 2011 - 09:09 UTC

  Brazil and Chile Battle Rising Currencies

  

  Brazil on Tuesday threatened tougher capital controls and other measures to keep its currency from rising against the dollar, a day after Chile's central bank unveiled its own $12 billion plan to buy greenbacks.