SCO & BRICS latest news and insights
By Dmitry Migunov
The transformation of the yuan into a global convertible currency ("internationalization") is in full swing. SWIFT statistics have shown that the use of the Chinese currency in international payments has increased markedly. However, the share of the yuan on a global scale so far...
By Sergey Manukov
Over the past few months, the Chinese Ministry of Finance has been aggressively selling US government bonds. As a result of this sale, as of the end of June, China had “only” $835 billion left, according to Business Insider. Of course, this is a lot, but not for China. The last t...
By Tao Mingyang
The yuan retained its position as the fifth most-used currency for global payments in July, with a share of 3.06 percent, according to the Society for Worldwide Interbank Financial Telecommunications (SWIFT) - the second time the currency exceeded the 3 percent benchmark.
The yua...
By Anna Koroleva
The Brazilian Finance Minister Fernando Addad said that Brazil has offered Argentina to use the yuan as a guarantee instrument in bilateral trade. Thus, TASS reports, the Chinese currency can replace for these two countries the American one, which is still used. The state bank Ban...
