"The yuan has risen 0.2% this week and has accumulated a 5.4% gain against the U.S. unit since June ..."
To read more - CLICK HERE!
The latest news also indicates that China's central bank will likely loosen control over its currency and may even double the rate at which it will allow the yuan to appreciate.
Also it seems that the world's third largest miner, Rio Tinto of Brazil, is exploring the idea of settling its future accounts in yuan rather than dollars.
The days of the US dollar as the world's reserve currency could be coming to a end sooner than most would have thought. Maybe having all your savings in US dollars or dollar denominated assets isn't the best idea?
To read more - CLICK HERE!
The latest news also indicates that China's central bank will likely loosen control over its currency and may even double the rate at which it will allow the yuan to appreciate.
Also it seems that the world's third largest miner, Rio Tinto of Brazil, is exploring the idea of settling its future accounts in yuan rather than dollars.
The days of the US dollar as the world's reserve currency could be coming to a end sooner than most would have thought. Maybe having all your savings in US dollars or dollar denominated assets isn't the best idea?
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