DBS: Chinese Exporters Swap Dollar for Yuan in Trade
The trading dynamics around the world have been constantly changing, with anti-dollar forces doubling at a rapid pace. A new report by the banking giant DBS states that the dollar’s usage in the Chinese market is shrinking, with the yuan gaining an upper hand in the majority of the latest trade deals. Also Read: Death of the US Dollar Has Begun With BRICS Rebellion, Says Forecaster DBS: Yuan Is Trending, Dollar Is Losing Grip Source: AFP DBS, one of Southeast Asia’s largest lenders, has issued a startling report on USD. The report outlines how Chinese market exports have lately been dealing mainly in Chinese Yuan, shunning the US dollar from all sides and corners. DBS shared how the demand for the Chinese Yuan has been rapidly rising, with exporters refusing to accept the US dollar while settling trades holistically. “Right now, you see the Chinese exporters . S ome are beginning to ask and say . “ I’m going to sell in RMB; please settle in RMB. ” Said Han Kwee Juan, speakin...