Capital Markets | Renminbi
The renminbi dropped a position in October, going from fourth to fifth, in terms of its use as a currency for international payments, according to the latest SWIFT Renminbi Tracker report.
As volatile currencies toy with the bottom lines of global companies, corporate treasurers are paying a lot more attention to foreign exchange.
FX Reserves | China’s foreign exchange reserves plunged by nearly $94 billion in August, the most ever in a single month, as the People’s Bank of China (PBoC) struggled to support the renminbi after devaluing the currency by 1.9%.
A wobbly administration and a plunge in commodities prices have triggered one of the nation’s toughest years in recent memory.
Capital Markets | Foreign Exchange
The surging dollar, falling euro and plunging emerging-markets currencies had a record $32 billion negative impact on the earnings of companies in North America and Europe in the first quarter, according to Scottsdale, Arizona‒based FiREapps, which helps corporations measure and manage foreign exchange exposure.