Image Image Image Image Image Image Image Image Image Image Image Image

| January 21, 2019

Scroll to top


currency Archives -

China’s Currency Proves a Surprise Oasis of Calm

January 10, 2019 |

Despite recent turmoil in financial markets, the Chinese yuan has been surprisingly stable, as trade talks between Beijing and Washington continue and other pressures eased. What’s News Asia

Yen Surges After Apple Upsets the Currency Cart

January 3, 2019 |

Currency markets were thrown into a spasm early in Asia on Thursday, with the Japanese yen surging during less-than-liquid trading hours, following weeks in which market sentiment has soured. What’s News Asia

Skeptical Payoneer CEO Dismisses Idea of Single Currency Like Bitcoin as Unrealistic

December 29, 2018 |

Skeptical Payoneer CEO Dismisses Idea of Single Currency Like Bitcoin as Unrealistic

Payoneer chief executive officer Scott Galit has dismissed the idea of a single global currency like bitcoin as unrealistic. Galit argued that he doesn’t believe countries like the U.S. will ever allow citizens to pay taxes in bitcoin because of too much volatility in the price of the cryptocurrency.

Also read: Former Mt. Gox CEO Says He is Sorry But Maintains His Innocence as Trial Closes

U.S. Will Never Allow Tax to Be Paid in Bitcoin, Says Galit

As a single global currency, bitcoin is viewed as key to ending willful currency manipulation, eliminating transaction fees and improving transparency in global pricing, among other uses.

Skeptical Payoneer CEO Dismisses Idea of Single Currency Like Bitcoin as Unrealistic
Scott Galit

“Despite the interests of lots of people out there in the Internet world who love the idea of frictionless commerce and frictionless money and avoiding fiat currencies, I don’t see it,” Galit was quoted by television network CNBC as saying. He was responding to questions on whether the idea of a future single global currency was feasible.

Galit said the bitcoin price volatility means that government money would be subject to the digital asset’s exchange rate fluctuations – so unstable if that were to occurr to fiat money, government would be at risk of defaulting on its financial obligations. For that reason, he argues, a government like the U.S. will draw no tangible benefit from adopting bitcoin in its operations, much less as a tax settlement currency.

BTC has lost more than 80 percent of its value since its December 2017 all-time-high of almost $ 20,000, in a downturn that has shaken the cryptocurrency industry down to its core.

Skeptical Payoneer CEO Dismisses Idea of Single Currency Like Bitcoin as Unrealistic

“Now you could have a debate whether taxes are fair or unfair or whatever but they are a reality,” said Galit, who heads the New York City-based Payoneer, a global payments startup voted one of CNBC’s most disruptive emerging companies for 2018. “There are going to be taxes because governments need revenues. Countries actually need tax revenue in order to fund services for their residents,” he added.

Ohio Defies Payoneer Skepticism

Galit will be less impressed that some state governments have already or are looking to transition to bitcoin-enabled tax and bill payments. Ohio has become the first U.S. state to allow citizens to settle their tax obligations and pay some bills in BTC. The crypto payments are made through the platform, which converts the BTC and gives the state government the dollar-equivalent. The states of Arizona, Georgia and Illinois are all reportedly preparing legislation to allow for bitcoin-friendly tax payments.

Skeptical Payoneer CEO Dismisses Idea of Single Currency Like Bitcoin as Unrealistic

The Payoneer CEO has other reasons for his skepticism – the U.S. Federal Reserve System. Galit said the role of the Fed regarding monetary policy issues, particularly its use of interest rates to dictate economic direction, posed significant challenges. For a central bank to lose control of this key economic tool over to a single universal currency was simply unfathomable, Galit asserted.

“Central bankers are there to actually help manage the economies and provide kind of stewardship for those economies,” he stated in the CNBC article. “Part of that is actually managing currency in the interest rates [for lending] and in exchange rates. If you don’t actually have any control over a currency you’ve lost one of the major policy tools that you have, so what do you do?”

Payoneer processes payments and transfers from more than 200 countries throughout the world. The company makes its money by levying fees on withdrawals in various currencies, making it a key stakeholder in the currency business.

What do you think about the sentiments from the Payoneer chief executive? Let us know in the comments section below.

Images courtesy of Shutterstock.

Need to calculate your bitcoin holdings? Check our tools section.

The post Skeptical Payoneer CEO Dismisses Idea of Single Currency Like Bitcoin as Unrealistic appeared first on Bitcoin News.

Bitcoin News

Digital Currency Platform Revolut Receives European Banking License

December 13, 2018 |

On Thursday, Dec. 13, digital payments platform Revolut announced that the company has been approved for a banking license in Europe by the region’s central bank. According to Revolut, the license will help it provide better access to digital currencies and also offer traditional banking services.

Also read: Google Trends Reveals One of the Top Questions of 2018 — ‘What Is Bitcoin?’

License Approved by the European Central Bank

Digital Currency Platform Revolut Receives European Banking LicenseRevolut is a UK-based digital currency company that allows people to purchase, sell, and store cryptocurrencies like bitcoin cash, ripple, ethereum, and others. Founded in 2015 by Nikolay Storonsky and Vlad Yatsenko, Revolut has raised $ 336 million since its inception. On Dec. 13 the team revealed it was approved by the European Central Bank for a banking license that allows the company to provide more financial services to customers. Revolut has explained that at first everything will be done “behind the scenes” so that the company will eventually be able to offer full current accounts, overdrafts, and other traditional financial services.

“If you choose to open a full current account with Revolut Bank in the future, any funds you deposit will be protected up to €100,000 under the European Deposit Insurance Scheme (EDIS),” Revolut’s blog announcement detailed.

Digital Currency Platform Revolut Receives European Banking License

Revolut Plans to Roll Out Overdraft Features and Personal Loans

Additionally, the Revolut team says customers will have access to overdraft facilities and this means users won’t have to worry about ‘insufficient funds’ notifications, automatic top-ups, and negative balances.

The company further emphasized:

The competitive personal loans we plan to offer will help out when your budget can’t cover a bigger purchase when you want to book that long-overdue holiday, or for anything else that requires a small cash injection before your next payday.

Digital Currency Platform Revolut Receives European Banking LicenseRevolut says it will start to experiment with the license in 2019 in Lithuania and hopes it can expand the services to other European regions after the testing. Furthermore, the license will give it the opportunity to provide U.K. direct debit payments. The British-based company also says that it is currently constructing its in-house payment processor. Revolut hopes to implement everything involved with the newly approved banking license over the next 18 months. According to the digital currency payment platform’s website, Revolut will additionally roll out services in the U.S. in the near future.

What do you think about the Revolut platform getting approved for a banking license in Europe? Let us know what you think about this subject in the comments section below.

Images via Shutterstock, Revolut, and Pixabay. 

At there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even look up the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Digital Currency Platform Revolut Receives European Banking License appeared first on Bitcoin News.

Bitcoin News

Atomicpay Launches Private Beta of Digital Currency Payment Gateway

December 4, 2018 |

Atomicpay Launches Private Beta of Digital Currency Payment Gateway

Startup announced the beta launch of its cryptocurrency payment gateway on Dec. 3, with support for six different digital assets. The payment processor eliminates third parties and allows merchants to accept cryptocurrencies in a noncustodial fashion.

Also read: US Law Enforcement Wants Blockchain Surveillance Tools for Privacy Coins

Developers Launch Cryptocurrency Payment Gateway

Atomicpay Launches Private Beta of Digital Currency Payment GatewayThe private beta version of Atomicpay will be available to a limited group of testers, but anyone who is interested can register to try it, the developers said. The founders of Atomicpay claim that the new software is a “decentralized” cryptocurrency payment processor that allows merchants to accept cryptocurrencies directly from customers in a “trustless environment.”

“We process payments but we do not hold any funds and no more middlemen. Money goes directly to your wallet. You have immediate ownership and full control of your money,” the team explained during the beta launch announcement.

Atomicpay supports 156 fiat currencies and offers full support for BTC’s Segregated Witness (Segwit) protocol as well. The application can be used to create a payment URL and payment buttons, while providing traditional Point-of-Sale (PoS) services. The gateway also comes with an application program interface (API) and e-commerce plugins for website developers.

At the time of publication, the Atomicpay platform supported bitcoin cash (BCH), bitcoin core (BTC), bitcoin gold (BTG), litecoin (LTC), dash (DASH) and dogecoin (DOGE). In the first quarter of 2019, the developers plan to add ether (ETH) and various ERC20 tokens, alongside stellar (XLM).

Atomicpay to Compete Against Free Payment Processors

Atomicpay Launches Private Beta of Digital Currency Payment GatewayThe payment gateway generates a new payment address for each invoice by using Hierarchical Deterministic (HD) wallet support. The service also offers a business plan for individuals and organizations that want to comply with know-your-customer requirements. In addition, the startup is offering an optional feature for cryptocurrency-to-fiat payments that automates transfers directly to local exchanges through the CCXT protocol.

“The API will allow merchants to set an interval where funds will be automatically sent to the exchange, create an order from crypto to fiat and lastly request a withdrawal back to their bank,” the Atomicpay developers explained.

Atomicpay does have a number of competitors, including the reigning leader of cryptocurrency payment gateways, Bitpay. However, unlike Atomicpay, the Atlanta-based company only accepts two digital currencies. 

The Atomicpay service is actually more similar to open-source payment processor Btcpay, as well as the Coinbase Commerce platform and Anypay Global, which produces cryptocurrency invoices that can be paid for by text message (SMS) using the Cointext application. But the main thing distinguishing Atomicpay from Btcpay, Coinbase Commerce and Anypay is that the new startup charges a fee for its services. Normal users will pay a flat rate of 1 percent to use the Atomicpay platform, while business users will pay 0.9 percent. Monthly invoice fees will be billed to users, rather than being taken from each transaction. However most payment gateways provide their services for free, which may deter some people from using the Atomicpay application.  

What do you think about the Atomicpay cryptocurrency payment gateway platform? Let us know in the comments section below.

Disclaimer: does not endorse nor support any of these mentioned products/services. Readers should do their own due diligence before taking any actions related to the mentioned company or any of its affiliates or services. is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, applications, protocols or services mentioned in this article.

Images via Shutterstock, Atomicpay, and Pixabay. 

Want to create your own secure cold storage paper wallet? Check our tools section.

The post Atomicpay Launches Private Beta of Digital Currency Payment Gateway appeared first on Bitcoin News.

Bitcoin News

Zimbabweans Use BTC to Pay for Food Hampers Amid Foreign Currency Crisis

November 20, 2018 |

Zimbabweans Use BTC to Pay For Food Hampers Amid Foreign Currency Crisis

Study263, a Zimbabwean-owned fintech startup operating from South Africa, has opened an online store allowing Zimbabweans to buy food hampers that are delivered directly to their homes. Shoppers have the option to pay for items like cooking oil and baked beans in BTC, Paypal or Ecocash, a local mobile money payment system.

Also Read: Ivy and Hiveex Launch Ivypay to Facilitate Consumer Bill Payments in Australia

As Prices Spiral, Study263 Helps Zimbabweans Import Food Using Bitcoin

The southern African country of Zimbabwe, which adopted the U.S. dollar after abandoning its currency at the height of hyperinflation in 2009, is gripped by a shortage of foreign currency which has seen prices of imported goods spiral in recent weeks.

Some supermarket shelves have emptied as shoppers panic buy, stocking up on essential goods such as mealie meal, beef, bread and cooking oil in fear of a return of the 2008 food and prices crisis. Until recently, fuel was in short supply, and basic foodstuffs remain scarce or are priced out of reach of ordinary people.

Zimbabweans Use BTC to Pay for Food Hampers Amid Foreign Currency Crisis

Tinashe Jani, co-founder and chief executive officer of Study263, told that the idea was conceived early October, “when colleagues and family in Zimbabwe started complaining of shortage of basic commodities as prices increased daily.” At the time, for example, the price of cooking oil moved from $ 3.20 to $ 20 per two-litre bottle, if available, he said.

“Our regular customers for sending money back home started hinting that the money they are sending isn’t buying much any more and that if only they could send groceries with someone they trust,” said Jani, whose company was founded in 2017, initially to help Zimbabweans studying abroad pay fees with ease using cryptocurrency.

Around mid-October, Study263 tested out the market and received a positive reception. People suggested what grocery items they would want included in the hampers, which are designed to cater for different types of family setups according to income levels.

“We analyzed other players in the market and realised our strength was in our acceptance of all forms of payment, including bitcoin,” Jani stated. ‘We have the mini blue, blue and mega blue hampers, which contain the most basic food commodities. The red hamper caters for toiletries and the purple hamper caters to those who want the more expensive products,” he added.

Zimbabweans Use BTC to Pay for Food Hampers Amid Foreign Currency Crisis

South African Imports Driving Trade

The goods are imported from neighboring South Africa before they are delivered to the buyer’s home within 10 days of payment. A deal by Study263 with a Harare-based logistics company ensures safe delivery.

To make payment in BTC, shoppers typically send the bitcoin equivalent to a given address, which the company converts to fiat to facilitate purchase of the product on order. Jani said customers have slowly been coming on board  since the service was launched earlier this month.

Study263 will have to pay taxes on imports. But the waiver on import licenses announced by the Zimbabwe government a few weeks ago allows the company to operate without one. The import licenses suspension – enacted as part of efforts to ease basic food shortages – gives holders of free funds to bring in a select number of goods from other countries license-free.

“Our hampers are selected from a variety of shops to ensure affordable pricing. They are also flexible to allow other customers to pick and drop items,” Jani detailed. “In terms of payment, our packages are pegged against the U.S. dollar and upon need to transact we convert to whatever the client wants to use to pay, from Paypal, cryptocurrency and Ecocash.”

Zimbabweans Use BTC to Pay for Food Hampers Amid Foreign Currency Crisis

Bitcoin Payments Catching on in Africa

Cryptocurrency may be banned in Zimbabwe, but bitcoin is helping ordinary folk make payments bank-free. It makes for a great fit for the more than 10 million Zimbabweans who lack access to basic banking services. And it’s even more beneficial to the banked few, a distrusting lot, who are keen to protect their savings against bank failure, inflation or even political turmoil.

Bitcoin is also being used to pay for TV subscriptions (a service offered by Study263) and accommodation rentals. But above all, it is looked at more as a store of value against fiat currency devaluation, rising inflation and policy uncertainty, as is the case is across much of Africa.

Zimbabweans Use BTC to Pay for Food Hampers Amid Foreign Currency Crisis

In east Africa, a new deal between digital currency exchange Bitpesa and a Japanese firm shows Kenyans are using bitcoin to pay for used Japanese cars, cosmetics and electrical gadgets. In Nigeria, Sure Remit is helping make cash transfers cheaper and in Ghana some small businesses have started to accept payment in BTC while basic services like buying mobile phone airtime and data can also be done using the digital currency.

What do you think about the Study263 initiative? Let us know in the comments section below.

Images courtesy of Shutterstock.

The Bitcoin universe is vast. So is Check ourWiki, where you can learn everything you were afraid to ask. Or read our news coverage to stay up to date on the latest. Or delve into statistics on our helpful tools page

The post Zimbabweans Use BTC to Pay for Food Hampers Amid Foreign Currency Crisis appeared first on Bitcoin News.

Bitcoin News

Stablecoins Demand More Trust than Fiat Currency

November 16, 2018 |

Stablecoins Demand More Trust than Fiat Currency

This article about the problem with stablecoins was written by Kevin Murcko, the CEO at cryptocurrency exchange, CoinMetro, and forex broker, FXPIG.

Stablecoins — digital coins which peg their value rigidly to the dollar, the euro, or a collage of national currencies — are all the rage right now. Tether, in particular, is on everyone’s lips. In fact, it’s one of the most heavily traded cryptos in the market right now.

Also read: Stablecoins Fetch a Premium as BTC Hits Year Low

Stablecoins Demand More Trust than Fiat Currency

The appeal of Tether and other stablecoins is somewhat understandable. All cryptos are nascent assets; speculation, rather than the usefulness of the technology or the underlying asset, is what’s mostly been driving price movement. That’s led to wild volatility.

Traders love volatility, but not unreasonably, some people see a problem. Volatility is broadly incompatible with the concept of a day-to-day currency and a store of value. “Stablecoins” have arrived to fix this by, ostensibly, digitizing a fixed value in terms of dollars or an equivalent.

The Use Cases for Stablecoins

Certainly, there are a handful of legitimate use cases for stablecoins.

Let’s say a liquidity provider owes me $ 0.5 million. Maybe I need that money immediately to be able to rebalance my book — the traditional banking system isn’t the best way to do that. Even if we’re with the same bank, it can take a while to clear that transaction.

Stablecoins are useful because I can instantly clear funds back and forth. They offer the convenience and speed of using crypto without the caveat of volatility.

As the International Monetary Fund’s Christine Lagarde pointed out in a speech this month, Central Bank Digital Currencies (CBDCs) are another intriguing opportunity. While the benefits aren’t fully understood, CBDCs have the potential to limit costs and risks to payment systems, mitigate fraud and money laundering, and potentially even boost financial inclusion throughout the developing world.

Substituting Fiat Currency

Stablecoins Demand More Trust than Fiat Currency

Beyond these examples, however, stablecoins really struggle to prove their worth. Front-end, business-issued stablecoins (practically all stablecoins being traded at the moment) fall flat.

Currently, these stablecoins are used as substitutes for fiat on crypto exchanges that don’t have access to central bank-issued money. It’s not that these tokens are preferential to fiat. Rather, they’re band-aid solutions for retail exchanges which, for various reasons, can’t open and maintain adequate fiat on-and-off-ramps — usually because they aren’t properly licensed to offer fiat, or because they don’t have access to the necessary banking.

Why, in most circumstances, aren’t stablecoins preferential to fiat? It ultimately comes down to trust.

As we all know, crypto was originally intended to be trustless. The Bitcoin whitepaper laid out a vision to escape “to transact directly with each other without the need for a trusted third party.”

What stablecoins represent, in many ways, is the antithesis of that idea. The crypto community now uses privately issued tokens or coins that are pegged to the very currencies they originally wanted to pull away from. That’s problematic for a number of reasons.

Stablecoins require you to have confidence, not only in the government, but in an undependable, easily corruptible private company. We have to place our faith outside of the chain and in these companies’ ability to self-regulate supply and demand.

The Collateralization Problem

That’s a tall order. Stablecoins can be split into three states of collateralization, or the extent to which the coin is backed one-to-one by fiat. Some coins are fully collateralized, others are partly collateralized, and others are entirely uncollateralized. Unfortunately, all provide insufficient mechanics to properly regulate price.

For noncollateralized tokens, value is essentially suppressed by “printing” digital money. That’s all well and good, but when the price drops, it’s not possible to un-issue what’s already in circulation.

Here’s the snag. If the smart contract can’t keep the price at $ 1, then the algorithm is forced to issue bonds, promising users an entitlement to coins in the future. The bonds are then redeemed, and the price returns to $ 1.

That’s the theory, at least. The issue is, these bonds can only really be serviced if the platform is in an overall state of growth. The headache arises when the price keeps on dropping, and increasing numbers of bonds have to be issued until this price returns to trading level or above par. Bonds can’t be issued indefinitely.

The Fundamental Flaw: Artificial Inflation

Stablecoins Demand More Trust than Fiat Currency

Partial collateralization presents a minor improvement over the complete lack of reserve assets, but it still has a fundamental flaw: If confidence in the platform dips, then the company has to artificially inflate the price of its token by drawing on a finite pool of fiat reserves, preventing the price from plummeting. This, of course, has a limit. A company can only buy back so much of its own currency.

Presumably then, “fully collateralized” models like Tether are therefore reliable? Not really.

Even if we take the company for its word (there’s some uncertainty as to whether their assets are fully collateralized), it still doesn’t make much sense to abandon the relatively safe greenback for an inconvenient crypto that doesn’t always have fiat parity, provides no consumer protections, and is vulnerable to hacking.

Stablecoins: An Awful Idea

Central banks may not be the ideal institutions to trust, but many have stood resolutely for decades with the primary goal of maintaining our trust in their money. If privately backed stablecoins are designed to replace our reliance on these central banks with a reliance on a combination of both central banks and their loosely regulated businesses, then this seems like an awful deal to say the least.

Let’s not confuse lack of volatility with stability. That’s a dangerous mistake to make. Yes, many stablecoins do have relatively “stable” prices, but “stability” — in another sense of the word — is also about reliability, and that’s one thing that can’t be said of stablecoins, which demand far more trust than the original fiat.

Do you agree that stablecoins are overhyped? Can stablecoins solve the problem of volatility? What is the future of the stablecoin? 

Images courtesy of Shutterstock

OP-ed disclaimer: This is an Op-ed article. The opinions expressed in this article are the author’s own. does not endorse nor support views, opinions or conclusions drawn in this post. is not responsible for or liable for any content, accuracy or quality within the Op-ed article. Readers should do their own due diligence before taking any actions related to the content. is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any information in this Op-ed article.

The post Stablecoins Demand More Trust than Fiat Currency appeared first on Bitcoin News.

Bitcoin News

IMF: Central Banks Could Issue Digital Currency

November 14, 2018 |

IMF: Central Banks Could Issue Digital Currency

Christine Lagarde, the managing director of the International Monetary Fund (IMF), has said central banks throughout the world should consider issuing digital currency to make transactions more secure. At a recent conference in Singapore, Lagarde argued that state-backed cryptocurrencies could satisfy public policy goals related to financial inclusion, consumer protection, privacy and fraud prevention.

Also Read: Bitcoin Group SE Buys Investment Bank Tremmel

Safe, Cheap and Semi-Anonymous Payments

“I believe we should consider the possibility to issue digital currency,” Lagarde said in a speech this week in the city-state, which is at the forefront of driving fintech innovation. “There may be a role for the state to supply money to the digital economy. The advantage is clear. Your payment would be immediate, safe, cheap and potentially semi-anonymous. And central banks would retain a sure footing in payments.”

IMF: Central Banks Could Issue Digital Currency

Cashless transactions have soared around the world in recent years, unsettling many of the control freaks who work for various governments. Bitcoin, for example, was created to challenge the conventional financial system and return the ownership of money to the people, beyond the reach of the state. But this vision has not endeared it to global financial gurus who are steeped in tradition. Unsurprisingly, many national governments have raised concerns about cryptocurrencies and have called for tighter regulation.

Citing the example of central banks in Canada, China, Sweden and Uruguay, which are all “seriously considering” the introduction of their own digital currencies, Lagarde said a state-issued cryptocurrency would be a liability of the state, just like fiat money. Such currencies could reduce the cost of transactions while maximizing security and spreading adoption. She stated:

The more people you serve, the cheaper and more useful the service. Private firms may under-invest in security to the extent they do not measure the full cost to society of a payment failure.

A More Competitive, Level Playing Field

Regulations may not be able to fully address these downsides, Lagarde said, but a digital currency could offer a number of advantages, particularly as a backup means of payment. “And it could boost competition by offering a low-cost and efficient alternative — as did its grandfather, the old reliable paper note,” Lagarde said. She added that although the case for virtual currencies “is not universal,” it should be investigated “seriously, carefully and creatively.”

IMF: Central Banks Could Issue Digital Currency

In addition, central banks could offer a more level playing field for competition, leaving space for private companies to concentrate on innovation. “Putting it another way, the central bank focuses on its comparative advantage — back-end settlement — and financial institutions and startups are free to focus on what they do best — client interface and innovation. This is public-private partnership at its best,” Lagarde claimed.

However, Lagarde’s calls for digital currencies sponsored by central banks are likely to be met with indignation by many cryptocurrency hardliners, who advocate the foundational principles of bitcoin. They tend to see bitcoin as a currency that was built for freedom by resisting any form of control, especially that exerted by governments. The involvement of a central bank could be viewed as intrusive, as it could mean that governments would impose unnecessary controls that might hinder transaction speeds, while sacrificing freedom and lower costs. Some legacy financial institutions and businesses have, nevertheless, been attracted to the use of blockchain technology, which underpins cryptocurrency settlements, to process transactions.

What do you think about Lagarde’s proposition? Let us know in the comments section below.

Images courtesy of Shutterstock.

The Bitcoin universe is vast. So is Check ourWiki, where you can learn everything you were afraid to ask. Or read our news coverage to stay up to date on the latest. Or delve into statistics on our helpful tools page

The post IMF: Central Banks Could Issue Digital Currency appeared first on Bitcoin News.

Bitcoin News


China tells short-sellers it will defend its currency

October 27, 2018 |

The yuan on Friday slid close to its lowest point since the global financial crisis in 2008. But it recouped its losses after combative comments from a Chinese central bank official. – RSS Channel – World

U.S. stops short of labeling China a currency manipulator

October 18, 2018 |

The Treasury Department stopped short of declaring China a currency manipulator in its semiannual report on foreign-exchange rates, averting an escalation of a trade war while serving notice that the United States will closely watch the yuan after its recent slide.

“Of particular concern are China’s…

L.A. Times – Business