Renminbi Current Affairs, GK & News
SBI becomes first Indian bank to link up with China’s National Advance Payment System
The State Bank of India’s (SBI) Shanghai branch has become the first Indian bank to link up with China’s National Advance Payment System (CNAPS). After being a member of the CNAPS, SBI Shanghai can also offer real time transfer of local funds within China by routing them through the PBOC. It eliminates the need of ..
Topics: Clearing • Cross-Border Inter-Bank Payments System • Economy • Finance • Internationalization of the renminbi • Market data • Money • Payment system • Renminbi • Society for Worldwide Interbank Financial Telecommunication • State Bank of India
Pakistan approves issuance of ‘Panda bond’
The Pakistan Cabinet has recently approved the issuance of first-ever Chinese renminbi-denominated bonds to raise loans from China’s capital markets. The Panda bonds will be denominated in Chinese yuan. It is expected that the possible transaction size of bonds will be equivalent to $500 million in two different tranches. They will help the government diversify ..
Topics: Bond • Economy • Finance • Finance in China • Financial market • Money • One Belt, One Road • Panda bonds • Renminbi • Structured finance • Tranche • Yuan
Masala Bonds
Masala bonds are rupee denominated overseas bonds. Here are key notable points about Masala Bonds. Such bonds are Rupee denominated. When an Indian company issues Rupee denominated Bond, it is obviously shielded against the risk of currency exchange rate aberrations. The foreign exchange risk is on foreign investors rather. The key advantages of Masala Bonds are ..
Topics: Bond • Currency • Economy • Indian rupee • International finance • Masala bonds • Pakistani rupee • Renminbi • Rupee
Renminbi, Rupee included in ADB’s TFP
Noticing the expanding influence of the economies of China and India among the Asian economies, the Asian Development Bank (ADB) decided to encourage and support deals denominated in their local currencies under its Trade Finance Programme (TFP) as intra-regional trade transactions using the Renminbi and the Rupee are projected to increase. It is a remarkable ..
Month: Current Affairs - July, 2012
Topics: Asian Development Bank • Carry • Currency • Economy • Economy of the European Union • Euro • Eurozone • Finance • Foreign exchange market • Money • Renminbi
Currency Exchange Rate Oversight Reform Act of 2011
Currency Exchange Rate Oversight Reform Act of 2011 Recently, the US Senate voted to advance a Bill pressuring China to prevent undervaluing its currency. The Senate voted in favour of the proposed Currency Exchange Rate Oversight Reform Act of 2011. This bill is basically an international trade bill in that would establish US tariffs on ..
Month: Current Affairs - December, 2011
Topics: Currency • Currency Exchange Rate Oversight Reform Act • Currency intervention • Current Affairs – February, 2016 • Economy • Exchange rate • Finance • Foreign exchange market • International macroeconomics • Money • Renminbi • United States federal legislation