Renminbi (RMB)/Yuan Appreciation & Internationalization

KYli said:

Another major breakthrough from Brazil pulp producer which is the world biggest.

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tonyget said:

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Not sure this is a good news. If China switched half of trade from dollar to Yuan，forex reserves should fell not rise. Too much dollar reserve is a burden

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tonyget said:

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Not sure this is a good news. If China switched half of trade from dollar to Yuan，forex reserves should fell not rise. Too much dollar reserve is a burden

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Renminbi conference in Budapest focuses on Hungary-China financial cooperation
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BUDAPEST, May 4 (Xinhua) -- The Budapest Renminbi Initiative Conference, an annual event aimed at promoting cross-border economic activity and broadening the range of investment and financing sources in Hungary, was held for the seventh time here on Thursday.
The participants focused on financial interconnectivity and a green transition, highlighting the opportunities of central banks in environmentally sustainable financial transformation and the role of the renminbi in the Central and Eastern European (CEE) region.
The conference was attended by high-ranking officials, bankers, economists and business leaders from Hungary, China and the rest of the world.

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tphuang said:

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Looks like Pakistan wants to put in long term contract to buy oil from Russia in Yuan. Now, this also has something to do with its dwindling USD reserves. Pakistan will end up needing to borrow a lot from China, but that's already happening, so it wouldn't be a major issue

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