The renminbi is likely to be used increasingly for current account purposes, but its use in capital account transactions will hinge on convertibility in China.
The reformist wing of the current Chinese leadership should look to Zhu Rongji for a solution.
Tim Geithner, President Barack Obama's choice for Treasury secretary, on Thursday accused China of "manipulating" its currency and pledged "aggressive" diplomatic action to drive Beijing into action.
Policymakers should aspire to restore the pre-Independence environment where the rupee was trusted and used all over South Asia, in Southeast Asia, in West Asia, and in East Africa, suggests Ajay Shah.
A new era of Indian equity market outperformance compared to China "appears to be dawning", according to Morgan Stanley. The firm has upgraded India to overweight in its Asia Pacific-excluding Japan (APxJ) list, making it their most preferred market not only in the region but also in the global emerging market (GEM) pack. India now holds the top position in this category, with an overweight of 75 basis points, a significant increase from nil previously.
With economic problems and job cuts, Hangzhou locals and people in other parts of China are not very pleased about hosting the Asian Games.
China can maintain its currency undervaluation practices only at the risk of global macroeconomic imbalances, says Dani Rodrik.
An improvement in political relations, anchored in a restoration of peace and tranquillity at the border, could open up opportunities for expanded economic and commercial relations between them, suggests former foreign secretary Ambassador Shyam Saran.
Test your knowledge of international finance with our quiz on the renminbi
Finance minister Nirmala Sitharaman on Wednesday exuded confidence that inflation would further decline and the government is on track to meet its budgetary target for deficit and said that there is no fear of stagflation in India. Replying to the debate on first batch of Supplementary Demands for Grants 2022-23 in Lok Sabha, the finance minister said inflation has come down and it is now in the tolerable band of the RBI. Inflation has been declining since April 2022 and it is declining further, she said.
The country might favour a stronger renminbi against the US dollar for a variety of reasons.
'To simply let the rupee depreciate to any level according to market forces will not be in the country's interests.'
Rs 1,000 now buys $13.5 against $14 a year ago.
Speaking to reporters at the ongoing South Asian Diaspora Convention in Singapore, Gupta highlighted the funding deficit faced by infrastructure projects in India and the rest of the region, while the high saving rate among the Chinese was boosting the RMB deposit base in Hong Kong and Singapore, already estimated to be over $3 trillion.
The Chinese yuan has the potential to be an alternative to the US dollar and help create a multi-currency global reserve system, says an Asian Development Bank report.
Given their stability, the rupee and the renminbi (Chinese currency) -- when made convertible -- could well emerge as substitute currencies which countries will hold their reserves, stated Raghuram Rajan, Economic Advisor to the Prime Minister and Professor of Finance at the Chicago Graduate School of Business, on Wednesday.
The companies did not immediately give a figure for the investment, but Chinese state media reported earlier on Thursday it would total 1.2 billion yuan ($192 million).
Beijing is aggressively pushing, with some success, the internationalisation of its currency.
The NDB will have an initial authorised capital of $100 billion.
Billionaire industrialist Anil Ambani on Monday said business leaders from India and China should enhance Rupee-RMB-Dollar trade for furthering co-operation between the two nations.
Since China activated exchange rate reform in 2005, the value of RMB yuan against US dollar has surged by more than 30 per cent, he said refuting persistent US allegations that as world's largest exporter China benefited by keeping low exchange rate for its currency.
It is against China's interest to shift away from dollar.
The Chinese had enough foreign reserves.
Major international luxury goods manufacturers are riding high in China with the luxury goods market booming, despite a slowdown in economic growth.
China plans to achieve a high quality and efficient annual growth rate of 7 per cent during the 12th Five-Year Plan, starting this year, which is not easy by any means.
The grouping has influenced China, but Germany will be more difficult.
The esoteric world of international finance is resonating with the clash of currencies, says
On Wednesday, the Chinese authorities extended a ban on sales of shares by large shareholders.
A day after the US dragged China to the World Trade Organisation, Treasury Secretary Timothy Geithner is slated to brief two key congressional committees later on Thursday on how the Obama administration plans to make Beijing provide a more-level playing field to American firms.
Rejecting mounting US calls to allow the yuan to rise more quickly, Zhong said changing the exchange rate was not the way to fix a huge bilateral trade gap, and that it could upset the global economy.
China is not manipulating its currency, but the yuan remains undervalued, the Obama administration told the US Congress in a report.
Companies such as Larsen & Toubro and Bharat Heavy Electricals Ltd believe the undervalued renminbi (yuan) gives Chinese goods an unfair advantage in Indian markets.
The primary market showed some signs of life in a busy day.
Barry Eichengreen, professor of economics and political science, University of California, Berkeley, analyzes the transparency of the Reserve Bank of India, the growth rate of the Indian economy and why he feels globalisation can never be rolled back.
China's economy is worse than it really is, but then these are emblematic of the baffling self-congratulatory mood that exists in India today.
India's largest private sector lender ICICI Bank has hit the Chinese debt market for a benchmark issue of about $500 million.
According to the data available on the Reserve Bank of India's website, net workers' remittances in April-June 2018 were $11.5 billion
While far from being a currency war, India does not have much of an option but to depreciate to accommodate its exports at a time when China shows its intent to let its currency depreciate.
Leading index provider Standard & Poor's on Thursday announced the launch of currency indices - Indian Rupee index and Chinese Renminbi index. Global investors would get access to the currencies of the two emerging economic superpowers, it will also serve as a reliable and relative benchmark for currency performance. The indices will replicate the performance of the Chinese Renminbi & the Indian Rupee versus the US Dollar. The indices will also have an excess return version.
The President-elect has already infuriated China by talking over phone with the Taiwanese President, the first by a top American leader since 1979.
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