News of yuan

Central Bank chief Bausili among top officials headed to China

18-04-2024 18:02 Top government officials are preparing to visit China in the next few weeks as President Javier Milei ditches his aggressive rhetoric against Beijing in a bid to deepen ties with a key trade partner.

HELP FROM BEIJING

China lets Argentina tap extra US$6.5 billion from swap line

18-10-2023 14:01 Move comes right before Argentina’s presidential election on Sunday as political uncertainty roils markets and the peso’s parallel exchange rate sells off.

FINANCIAL MANOUEVRING

Brazil pitches plan to guarantee exports to Argentina in yuan

23-08-2023 15:56 President Luiz Inácio Lula da Silva’s administration searching for ways to aid Argentina amid its intensifying economic crisis, while also attempting to ensure Brazilian exporters are paid for sales.

IMF DEBT DEAL

Government makes IMF loan repayment partly with yuan

01-07-2023 08:36 Short on dollars, President Alberto Fernández's government has made a US$2.7-billion loan repayment to the International Monetary Fund partly using Chinese yuan.

IMF DEBT

Argentina to pay US$2.7 billion as IMF negotiations continue

29-06-2023 18:22 Government set to make payment due in June to the International Monetary Fund. In order to avoid a further dollar haemorrhage, payment will be made in part in Chinese currency, with the rest from unused Special Drawing Rights.

BLOOMBERG - ANALYSIS

Dollars are so scarce in Argentina that yuan use is at a record

26-06-2023 13:46 Yuan’s share of forex transactions hit record 28% this month; Dollars in short supply amid surging inflation, crop failures.

BEIJING & BUENOS AIRES

Argentina renews China currency swap deal to strengthen reserves

02-06-2023 16:39 Government renews three-year currency swap line with China in bid to boost Central Bank reserves.

BUENOS AIRES & BEIJING

China allows Argentina to spend up to US$10 billion of currency swap line

02-06-2023 13:20 Chinese officials approve Argentina tapping up to 70 billion yuan (US$9.89 billion) of currency swap line, double the previous limit, according to a Central Bank statement.

CURRENCY SWAP

Argentina seeks bigger China swap line to prevent peso sell-off

24-05-2023 10:48 Argentina’s government is asking China for an expansion of its bilateral currency swap in yuan as it seeks to build up reserves.

BLOOMBERG – ANALYSIS

Central banks use record amount of yuan via PBOC swaps

16-05-2023 10:59 Global central banks tapped a record amount of the Chinese currency in foreign-exchange swap lines in the first quarter, in another indication of the yuan’s growing international status.

MORE MEASURES FROM MASSA

Argentina to pay for Chinese imports in yuan instead of dollars

27-04-2023 00:16 Economy Minister Sergio Massa activates plan to boost dwindling reserves and agrees deal with Beijing that will allow Argentina to pay for Chinese imports in yuan instead of US dollars.