Tag: RMB

What is CIPS?

People often argue there is not enough innovation in the financial world, and to some extent, they are absolutely right. However, ┬áthere are some developments, well worth taking note of, including the CIPS network. This Cross-Border Inter-Bank Payments System can have major consequences for SWIFT in the Western world. What Does CIPS Do Differently? One has to first understand the CIPS initiative before looking into how it works. The Cross-border …
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Euro Overtakes Chinese RMB In Trade Finance

Concerns over the value of the RMB are more than justified, as the national currency continues to slip down a very steep slope. But there is even more reason for concern, as the Swift RMB Tracker indicates that the Euro suddenly surpassed the RMB in trade finance. Although the US Dollar remains firmly in the top position, things are going from bad to worse for the renminbi rather quickly. Euro …
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