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Chinese exporters using currency swaps to retain dollars as yuan sags | Hellenic Shipping News Worldwide

Chinese exporters using currency swaps to retain dollars as yuan sags | Hellenic Shipping News Worldwide
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Tom Westbrook , Kim Coghill , Jindong Zhang , Becky Liu , Vidya Ranganathan , Administration Of Foreign Exchange , Federal Reserve , Standard Chartered Bank , China Merchants Bank , United Statesinterest , Asia Pacific , State Administration , Foreign Exchange , Standard Chartered , Winni Zhou ,

Exclusive-Chinese exporters using currency swaps to retain dollars as yuan sags

Chinese exporters are using a complicated currency swap strategy to avoid converting their dollar earnings into yuan for fear of losing out on potential gains in the U.S. currency, official data and conversations with companies show. China's state banks are counterparties to some of these swap transactions that allow exporters to exchange their dollars for yuan, suggesting the country's currency regulator is comfortable with these trades even as authorities try to curb intense pressure on the yuan in spot markets. Exporters such as Ding, a Shanghai-based businessman, are holding on tightly to their dollar earnings, reluctant to sell and convert them into yuan, which recently skidded to nine-month lows. ....

Jindong Zhang , Vidya Ranganathan , Tom Westbrook , Kim Coghill , Becky Liu , Federal Reserve , Standard Chartered Bank , China Merchants Bank , Administration Of Foreign Exchange , Asia Pacific , State Administration , Foreign Exchange , Standard Chartered , Winni Zhou , Currency Swap , Chinese Exporters ,

Chinese exporters using currency swaps to retain dollars as yuan sags

Chinese exporters
are using a complicated currency swap strategy to avoid
converting their dollar earnings into yuan for fear of losing
out on potential gains in the U.S. currency, official data.
-Today at 04:55 am- MarketScreener ....

Vidya Ranganathan , Tom Westbrook , Kim Coghill , Becky Liu , Jindong Zhang , Federal Reserve , Standard Chartered Bank , Administration Of Foreign Exchange , China Merchants Bank , Asia Pacific , State Administration , Foreign Exchange , Standard Chartered , Winni Zhou , Singapore Editing ,