China cuts Iran oil purchases ahead of US sanctions

[Feng Leng]

And your currency is pegged against USD.

... until we decide to unpeg it. The timing is up to us.

 

[LASER1]

... until we decide to unpeg it. The timing is up to us.

Unpegging it matters Zilch. You pegged it to USD in order to save your own currency.

This is a process, and someone will definitely challenge the status of the US dollar.

Too big to fall. Find me another currency that has even close to $5 trillion a day volume.

 

[Three_Kingdoms]

And your currency is pegged against USD.

We do whatever we need to preserve the stability of our currency be it USD, Euro or others. The time for the moment is right for the USD and we are actually strengthening our own reserve currency positions.

China’s yuan more popular as reserve currency despite trade war, IMF data shows
Yuan’s share of global foreign exchange reserves rose to 1.84 per cent in the second quarter, as many central banks looked past US-China trade war

PUBLISHED : Tuesday, 02 October, 2018, 4:24pm
UPDATED : Tuesday, 02 October, 2018, 11:24pm
https://www.scmp.com/business/money/wealth/article/2166652/chinas-yuan-more-popular-reserve-currency-despite-trade-war

How the indian rupee goes against major currencies these days?https://www.scmp.com/business/money...r-reserve-currency-despite-trade-war#comments

 

[LASER1]

We do whatever we need to preserve the stability of our currency be it USD, Euro or others. The time for the moment is right for the USD and we are actually strengthening our own reserve currency positions.

Do whatever you want, but don't brag about the yuan when it's highly depended on the dollar market and fed reserve inr rate change. Also, INR is not an issue here, no use making tangent statements to escape a question.
Talking about global currency, RMB is well behind Yen let alone USD in global reserves. So, save the increasing feel-good stories later, and remember trade war happened with Japan too, only that the US gave them an honorable exit from the war. Only this time, it doesn't look so good for anyone. Next time try to understand what's being talked about and weigh your knowledge on the subject before quoting paid fanboy sounding articles.

 

[Three_Kingdoms]

Do whatever you want, but don't brag about the yuan when it's highly depended on the dollar market and fed reserve inr rate change. Also, INR is not an issue here, no use making tangent statements to escape a question.
Talking about global currency, RMB is well behind Yen let alone USD in global reserves. So, save the increasing feel-good stories later, and remember trade war happened with Japan too, only that the US gave them an honorable exit from the war. Only this time, it doesn't look so good for anyone. Next time try to understand what's being talked about and weigh your knowledge on the subject before quoting paid fanboy sounding articles.

Refute anything in my quoted news that is untrue.
Fact is fact and our reserve position as quoted is IMPROVING over time.
Of course I am knowing what was being discussed.
Geez!!! you sounded more like a fanboy and dodging away from the question about the performance of your rupee.

 

[LASER1]

Of course I am knowing what was being discussed.

Says the guy who just said this. No sunny, see the last 6 months data (if it's true at all)

Fact is fact and our reserve position as quoted is IMPROVING over time.

Geez!!! you sounded more like a fanboy and dodging away from the question about the performance of your rupee.

Look the thread title "geez" guy. Rupee?!? Seriously, where does it comes?

 

[un4given.1991]

i am currently working with both CNPC and Sinopec providing Refining and Process Treatments chemicals as representative of italian CHIMEC company.unfortunately they haven't paid anything to their Iranian contractors in the last 7 months.

 

[Three_Kingdoms]

Do whatever you want, but don't brag about the yuan when it's highly depended on the dollar market and fed reserve inr rate change. Also, INR is not an issue here, no use making tangent statements to escape a question.
Talking about global currency, RMB is well behind Yen let alone USD in global reserves. So, save the increasing feel-good stories later, and remember trade war happened with Japan too, only that the US gave them an honorable exit from the war. Only this time, it doesn't look so good for anyone. Next time try to understand what's being talked about and weigh your knowledge on the subject before quoting paid fanboy sounding articles.

Read my answer to your ignorance and absurdity in the following quoted source entitled " Dollar Spared as Yuan Undercuts Euro and Yen's Global Status"

now the above highlight:

My laugh at your ignorance and absurdity thus:

what' honorable exit" hahaha

The Japan is unhappy with Trump so this is the retaliation:

Friday, October 26, 2018, 16:48
China, Japan sign currency swap agreement
By Hu Yongqi

The People's Bank of China, the country’s central bank, and the Bank of Japan signed an agreement for a bilateral currency swap on Friday for 200 billion yuan or 3.4 trillion yen, one of 12 cooperative documents inked during Japanese Prime Minister Shinzo Abe's visit to Beijing.

The agreement aims to safeguard financial stability for both countries and support economic and financial activity, the central bank said on its website. The agreement will be valid for three years and can be extended with both sides' permission.

READ MORE: China's top legislator meets Japan's PM Abe

Another agreement was signed to set up a renminbi clearance bank in Japan. China and Japan signed other 10 documents to boost cooperation in fields such as securities market and senior care, under the eye of Premier Li Keqiang and Abe at the Great Hall of the People on Friday morning after their meeting.

https://www.chinadailyhk.com/articles/93/31/132/1540542346631.html

Says the guy who just said this. No sunny, see the last 6 months data (if it's true at all)
Look the thread title "geez" guy. Rupee?!? Seriously, where does it comes?

Are you "indian"? if so the rupee is relevant since you have participated in the discussion!

Also read these if you can understand:

economics
Dollar Spared as Yuan Undercuts Euro and Yen's Global Status
By
Samuel Potter
July 31, 2018, 8:09 PM GMT+8 Updated on August 1, 2018, 6:11 AM GMT+8

https://www.bloomberg.com/news/arti...erve-currency-dominance-is-sparing-the-dollar

Dollar bulls can breathe easy: The yuan’s relentless march toward global reserve currency dominance isn’t coming at the greenback’s expense overall.

Not yet, at least.

Instead, it’s the euro and yen that are making way for the Chinese currency’s growing status, according to Deutsche Bank AG analysis.

The driver is economics 101: central banks hold reserves in currencies that matter most to their economies, and there are no signs of the dollar’s global influence waning yet, according to strategist Robin Winkler.

“The rise of the yuan as a reserve currency need not necessarily spell trouble for the dollar,” he wrote in a note this week. “While geopolitical concerns may contribute to some rebalancing from the dollar to the yuan, economic and financial developments suggest that the yuan is more likely to take over from the euro and the yen as the major alternative reserve currency.”

China’s influence is a key question for global markets, as President Donald Trump heaps pressure on the Asian nation over its trade surplus and what he sees as decades of theft of American intellectual property.

While the yuan has been sliding amid dollar strength -- it’s poised to notch the longest monthly decline in three years -- near-term moves have little bearing on its international status, which is growing alongside the country’s economic influence. The currency may also be due a rebound on reports the U.S. and China are attempting to restart talks to avert the trade war -- the offshore yuan erased an earlier drop when the news broke on Tuesday.

China’s currency is down over 4 percent against the greenback this year, and was little changed at around 6.8080 per dollar at 7:10 a.m. Wednesday in Tokyo.

Undermining the Push

Unicredit Bank AG said last week it expects capital controls and the lack of full currency convertibility to undermine the country’s push for the yuan to have a bigger cross-border role.

Still, Russian President Vladimir Putin told reporters this week he sees the yuan as a potential reserve currency. And China has shown some signs of liberalization, such as measures that make it easier for overseas lenders to borrow the currency.

Analysis from Deutsche Bank, ranked the world’s eighth-largest currency trader by Euromoney Institutional Investor Plc, suggests policies like these are bearing fruit.

Winkler used the movement of 52 currencies relative to the four main reserves (dollar, yuan, euro and yen) and divided the total GDP of those economies based on those moves.

The conclusion: the yuan-currency bloc now captures almost a third of the total GDP, versus about 20 percent three years ago, with the exchange rate’s influence spreading across Asia and Latin America.

Latam Catch

Crucially for the greenback bulls, the analysis also showed that the dollar bloc increased its share, to 48 percent from 39 percent. Consequently, the euro and yen blocs shrank to 19 percent from 29 percent and to 5 percent from 13 percent, respectively.

There’s a catch: there is some evidence the yuan’s role in Latin America is growing at the expense of the U.S. currency, with exchange rates in Colombia and Chile now moving to the Sino beat, compared with little sensitivity in 2015.

But overall, the “secular increase” in global yuan reserves in the coming years “would likely be more of a problem for the euro and the yen than for the dollar,” according to the Deutsche strategist.

(Updates with yuan trading in eighth paragraph.)

i am currently working with both CNPC and Sinopec providing Refining and Process Treatments chemicals as representative of italian CHIMEC company.unfortunately they haven't paid anything to their Iranian contractors in the last 7 months.

There are plenty of ways to address your concern.
But there are also many terms and conditions to be fulfilled by both parties (at least) before payment. So complaining on the forum don't mean much buddy.

@LASER

Despite dodging away from my question, here is the answer to the weakening indian currency courtesy of @TaiShang

https://defence.pk/pdf/threads/weakening-rupee-pushes-india-to-settle-with-china-in-yuan.584412/

 

[PeaceGen]

While it's logically understandable that China is choosing for it's own interests rather than the Iranians' (who could use all the help they can get, an who deserve such help in the face of this attack on their country by the US),
i grieve for what i fear is about to happen to the Iranian people, who i know had no say over their governments semi-secret aggressive foreign policies and nuclear weapons ambitions at all.

i pray to my own God of the Christians, that He punish the politicians and lying warmongers from all western countries that did such a bad job at regime-change in Iraq, Libya, and probably within the next few years Iran too.

we humans unfortunately are completely unable to properly judge and punish these very guilty western souls (Bush, Blair, Trump, etc, those are just the ones at the top who made the announcements),
so i am asking my God to prevent such souls from ever doing anything like this again, especially on this scale, by whatever works to change or neutralize those souls. they should, in my opinion, experience first-hand what they put so many others through so carelessly and selfishly.
(i happen to believe like many others, in the existence of Angels, demons, Gods, Heaven, Hell, and re-incarnation.)

 

[Feng Leng]

Read my answer to your ignorance and absurdity in the following quoted source entitled " Dollar Spared as Yuan Undercuts Euro and Yen's Global Status"

now the above highlight:

My laugh at your ignorance and absurdity thus:

what' honorable exit" hahaha

The Japan is unhappy with Trump so this is the retaliation:

Friday, October 26, 2018, 16:48
China, Japan sign currency swap agreement
By Hu Yongqi

The People's Bank of China, the country’s central bank, and the Bank of Japan signed an agreement for a bilateral currency swap on Friday for 200 billion yuan or 3.4 trillion yen, one of 12 cooperative documents inked during Japanese Prime Minister Shinzo Abe's visit to Beijing.

The agreement aims to safeguard financial stability for both countries and support economic and financial activity, the central bank said on its website. The agreement will be valid for three years and can be extended with both sides' permission.

READ MORE: China's top legislator meets Japan's PM Abe

Another agreement was signed to set up a renminbi clearance bank in Japan. China and Japan signed other 10 documents to boost cooperation in fields such as securities market and senior care, under the eye of Premier Li Keqiang and Abe at the Great Hall of the People on Friday morning after their meeting.

https://www.chinadailyhk.com/articles/93/31/132/1540542346631.html





Are you "indian"? if so the rupee is relevant since you have participated in the discussion!

Also read these if you can understand:

economics
Dollar Spared as Yuan Undercuts Euro and Yen's Global Status
By
Samuel Potter
July 31, 2018, 8:09 PM GMT+8 Updated on August 1, 2018, 6:11 AM GMT+8

https://www.bloomberg.com/news/arti...erve-currency-dominance-is-sparing-the-dollar

Dollar bulls can breathe easy: The yuan’s relentless march toward global reserve currency dominance isn’t coming at the greenback’s expense overall.

Not yet, at least.

Instead, it’s the euro and yen that are making way for the Chinese currency’s growing status, according to Deutsche Bank AG analysis.

The driver is economics 101: central banks hold reserves in currencies that matter most to their economies, and there are no signs of the dollar’s global influence waning yet, according to strategist Robin Winkler.

“The rise of the yuan as a reserve currency need not necessarily spell trouble for the dollar,” he wrote in a note this week. “While geopolitical concerns may contribute to some rebalancing from the dollar to the yuan, economic and financial developments suggest that the yuan is more likely to take over from the euro and the yen as the major alternative reserve currency.”

China’s influence is a key question for global markets, as President Donald Trump heaps pressure on the Asian nation over its trade surplus and what he sees as decades of theft of American intellectual property.

While the yuan has been sliding amid dollar strength -- it’s poised to notch the longest monthly decline in three years -- near-term moves have little bearing on its international status, which is growing alongside the country’s economic influence. The currency may also be due a rebound on reports the U.S. and China are attempting to restart talks to avert the trade war -- the offshore yuan erased an earlier drop when the news broke on Tuesday.

China’s currency is down over 4 percent against the greenback this year, and was little changed at around 6.8080 per dollar at 7:10 a.m. Wednesday in Tokyo.

Undermining the Push

Unicredit Bank AG said last week it expects capital controls and the lack of full currency convertibility to undermine the country’s push for the yuan to have a bigger cross-border role.

Still, Russian President Vladimir Putin told reporters this week he sees the yuan as a potential reserve currency. And China has shown some signs of liberalization, such as measures that make it easier for overseas lenders to borrow the currency.

Analysis from Deutsche Bank, ranked the world’s eighth-largest currency trader by Euromoney Institutional Investor Plc, suggests policies like these are bearing fruit.

Winkler used the movement of 52 currencies relative to the four main reserves (dollar, yuan, euro and yen) and divided the total GDP of those economies based on those moves.

The conclusion: the yuan-currency bloc now captures almost a third of the total GDP, versus about 20 percent three years ago, with the exchange rate’s influence spreading across Asia and Latin America.

Latam Catch

Crucially for the greenback bulls, the analysis also showed that the dollar bloc increased its share, to 48 percent from 39 percent. Consequently, the euro and yen blocs shrank to 19 percent from 29 percent and to 5 percent from 13 percent, respectively.

There’s a catch: there is some evidence the yuan’s role in Latin America is growing at the expense of the U.S. currency, with exchange rates in Colombia and Chile now moving to the Sino beat, compared with little sensitivity in 2015.

But overall, the “secular increase” in global yuan reserves in the coming years “would likely be more of a problem for the euro and the yen than for the dollar,” according to the Deutsche strategist.

(Updates with yuan trading in eighth paragraph.)



There are plenty of ways to address your concern.
But there are also many terms and conditions to be fulfilled by both parties (at least) before payment. So complaining on the forum don't mean much buddy.

@LASER

Despite dodging away from my question, here is the answer to the weakening indian currency courtesy of @TaiShang

https://defence.pk/pdf/threads/weakening-rupee-pushes-india-to-settle-with-china-in-yuan.584412/

The US recently did a massive stimulate package including tax cuts, regulatory loosening and huge fiscal spending. The only way the US can avoid default on its debts now is for the US to instigate a military conflict that causes global investors (not just in the US) to put their money in US dollars as a safe haven.

 

[xyxmt]

China falls into line...

https://www.fxstreet.com/news/china-cuts-iran-oil-purchases-ahead-of-us-sanctions-wsj-201810260226

According to a report carried by the Wall Street Journal (WSJ) on Friday, China has asked its oil companies to cut some its oil trade with Iran in an attempt to please Washington, as the US seeks to reduce Iran’s exports sales to zero and isolate the Islamic Republic.

Meanwhile, Bloomberg reports that China has asked its state-owned oil companies, China National Petroleum Corp and Sinopec to avoid buying Iranian oil, as the US sanctions are set to take effect Nov 4.

but India got exemptions haha..joke is on US

 

[LASER1]

Dollar Spared as Yuan Undercuts Euro and Yen's Global Status

Give me a break fanboy. I've got bored with your kind.

Undercutting Euro?? Let me give you a reality check. See the Pie diagram below.

Keep daydreaming fanboy, the RMB a government-controlled fake shit made it to SDR Basket, out of influence. Yes, but having fanboy dreams is all another thing. Here's the 2018 data. I reiterate, first challenge Japanese Yen, Pounds, fuking Australian dollar & CAD. Now buzz off instead of wasting my time showing off projections rather than real data from a credible source.

Are you "indian"? if so the rupee is relevant since you have participated in the discussion!

Go read forum rules dummy, and read the title, it's not about INR. Not even about currencies. If I didn't have any flags, which currency you would bring? Martian Rupee?

 

[Nan Yang]

i pray to my own God of the Christians, that He punish the politicians and lying warmongers from all western countries that did such a bad job at regime-change in Iraq, Libya, and probably within the next few years Iran too.

we humans unfortunately are completely unable to properly judge and punish these very guilty western souls (Bush, Blair, Trump, etc, those are just the ones at the top who made the announcements),
so i am asking my God to prevent such souls from ever doing anything like this again, especially on this scale, by whatever works to change or neutralize those souls. they should, in my opinion, experience first-hand what they put so many others through so carelessly and selfishly.
(i happen to believe like many others, in the existence of Angels, demons, Gods, Heaven, Hell, and re-incarnation.)

He he he. Christian, Muslims and Jews share the same god.
Arab Christans call their god Allah.

 

[Sanchez]

Off topic:
@Hamartia Antidote: Why don't you put up an Indian flag so that everyone understands your motives? And you may also tell us if you are still in bed with a Chinese wife or divorced! That helps to see your desperation to bring China hater's shit into the forum.

 

[Hamartia Antidote]

Off topic:
@Hamartia Antidote: Why don't you put up an Indian flag so that everyone understands your motives? And you may also tell us if you are still in bed with a Chinese wife or divorced! That helps to see your desperation to bring China hater's shit into the forum.

How about you coming to grips with the fact that there are more than just Pakistani's, Chinese, and Indians on this forum (and the world). At least a handful of Chinese posters have made it their duty to post every negative article they can find about the US here. However other Chinese people (apparently like you) are oblivious to the nature of these posts and so when you see somebody like me posting a non-flattering article about China you throw a name calling hissy-fit like a spoiled 8yr old child. Wake up!! WTF is wrong with you?