All for yuan and yuan for allChina’s yuan has been unofficially pegged to the US dollar for two years now, but the People’s Bank of China is now allowing more flexibility. It’s already appreciated 0.42 percent, but what other changes will occur?
Currency volatility
Foreign reserves in freefall as private bank safety valve gets jammed
Today’s Reserve Bank statistics contain grim news. Since May 2007, Australia’s Official Reserve Assets have fallen 64% - down from $84bn to $30bn in December. They now cover a mere eight months of our chronic current account deficit, writes Robert Townsend.
