Bloomberg An unstoppable ascent in the renminbi is signalling Beijing’s growing ease with gradually freeing up one of the world’s most tightly-managed currencies. Since the renminbi hit a six-year high on a trade-weighted basis on November 17, the People’s Bank of China (PBOC) has set the currency’s daily reference rate at only mildly weaker-than-expected levels. The central bank also has ...

Bloomberg A gauge of short-term funding costs in the euro area tumbled to a record low amid a cash glut that has exacerbated the hunt for collateral before the year-end. Three-month Euribor — a benchmark based on the average rate that large banks in the region can theoretically borrow from one another — falls by 1.1 basis points, the most ...

Bloomberg Argentina’s central bank tightened access to hard currency further, the latest attempt by the crisis-prone country to contain dwindling reserves amid the growing devaluation expectations. The central bank published one rule change affecting banks and another affecting consumers, as it tries to preserve its store of dollars to help defend the value of the peso. The measures follow midterm ...