The year-long trade war already spread beyond tit-for-tat tariffs on goods.
The Chinese yuan fell to its lowest level against the dollar since August 2010.
The US administration may still be gloating over its misguided tariff stance. Yet the movement of the yuan may not be to the liking of the White House since it is likely to offset the tariff impact.
A MoU that allows certain banks to settle transactions in Chinese yuan.
For the past decade, China’s strategy for internationalising the renminbi has involved greater reliance on the IMF’s Special Drawing Rights as an alternative international reserve currency.
The Central Bank says the Yuan is only being promoted in cross-border dealings.
The Chinese yuan is being used more extensively in dealings between Cambodian and Chinese firms to the detriment of the United States dollar, according to the Cambodian Central Bank.
China rejects accusations of manipulating the yuan to give its exporters an edge.
Beijing has a more immediate worry – jitters that could fuel anger at government policy.
Cambodian companies should quote prices in the yuan for trade with Guangdong.
The National Bank of Cambodia and the People’s Bank of China urge investors and traders to use the yuan and the riel in transactions involving both nations.
With the number of Chinese holidaymakers visiting the country on the rise, foreign tourism officials seek the kingdom’s advice.
China raises the exchange rate for the yuan against the US dollar for the 10th session, pushing it to its highest level in 16 months.