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1.9 Million Euros Worth of Counterfeit Money Found in 5-Star Hotel

Apr 15, 2017 02:12 AM EDT

Bags containing fake Euro notes amounting to 1.9 million euros (14.1 million yuan) were seized by police at a 5-star luxury hotel in Tsim Sha Tsui, Hong Kong.

China's Yuan is now part of the IMF's basket of currencies with Special Drawing Rights (SDR).

Yuan Gets Global Monetary Status, Joins Reserve-Currencies Club

Rina S. |

Oct 01, 2016 08:42 AM EDT

China's Yuan has been added to the elite Reserve Currencies club at the International Monetary Fund (IMF).

China Presents Buoyant Trade Data, Gives Boost to Dollar and Markets

Rina S. |

Apr 13, 2016 04:30 PM EDT

The world's second largest economy China presented a surprisingly optimistic trade data for the month of March, putting market concerns to a rest. The country showed an11.5 percent increase in its export, while its imports were down by 7.6 percent on dollar basis. The results were even better in CNY terms, where exports showed 18.7 percent increase and imports went down by 1.7 percent.