Sign up | Log in



Home  >>   Daily News  >>   Asean News  >>   Capital Markets  >>   Yuan to become third reserve currency
NEWS UPDATES Asean Affairs        24  May 2011

Yuan to become third reserve currency

Related Stories

March 25, 2011
Asean corporate governance launches in 2012

March 5, 2011
Algorithmic trading arrives in Thailand

January 29,2011
Thai gold firm plans listing

The Chinese yuan looks set to become the third most popular currency for settling trades in the next six months, according to an HSBC trade confidence survey.

The yuan's increasing acceptance around the world on the back of China's soaring growth means it is expected to overtake the British pound as currency of choice for firms engaged in cross-border trades.

Only the United States dollar and the euro are seen as staying ahead, said Mr Khuresh Faizullabhoy, head of trade and supply chain at HSBC on Monday.

Since the last global survey in September, the yuan has grown in popularity among exporters, importers and traders of goods, who feel they will be using the currency to settle their trades more, he said.

'That's to be expected given the fact that there is so much trade with China and the China trade is growing,' he added.

The results were similar for firms based just in Asia as well, given China's depth of trade linkages with many regional economies.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Today's  Stories    24  May 2011 Subsribe Now !
• Yuan to become third reserve currency Subcribe: Asean Affairs Global Magazine
• Indonesia to audit mining permits Asean Affairs Premium
• Pertamina Loses US$30 million in fire
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• AirAsia may increase fleet
• Bursa Malaysia looks at unusual activity

• Philippines posts record fiscal surplus

• Thai growth on course

• Viet Nam Airlines to expand fleet p

Asean Analysis    24  May 2011

Advertise Your Brand
• Luxury goods go east Sponsor Our Events

Asean Stock Watch    24  May 2011

• Asean Stock Watch-May 24 p

Global News Impacting Asia    17 November 2010


• Bank of America sees Asian inflation


• Lloyd’s increases insurance push in Malaysia


• Wells Fargo analyst on euro


• Obama’s visit to Asia


ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore
• Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline
• Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More


Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand