Boring but Important: China's IMF Vote and Exchange Rate
A couple of stories lost in the ether of today's bigger events:
BBC NEWS | Business | IMF reforms give China more power
China will, in effect, become the IMF's sixth most powerful member behind the US, Japan, Germany, France and the UK.
China currently has fewer votes than either Belgium or the Netherlands, even though its economy is twice the size of the two combined.
And also China yuan central parity rate set at new high of 7.9342 to dollar vs 7.9431 - Forbes.com
BEIJING (XFN-ASIA) - The National Foreign Exchange Center said the central bank has set the yuan central parity rate at a record of 7.9342 to the dollar.
The rate, published on the official Chinamoney website, compares with a midpoint of 7.9431 set the previous trading day.
The yuan yesterday strengthened to its highest levels yet against the dollar in intraday trade, peaking at 7.9200 on the exchange-traded market before ending at 7.9450.
Both are tokens of China's increasing influence in world economic affairs - and the influence of those affairs on it.
