Dec 12, 2016

Citigroup currency trader settles Tokyo wrongful-dismissal case

A Citigroup Inc. currency trader in Tokyo who sued the U.S. bank after it fired him for allegedly trying to manipulate foreign-exchange rates has settled the case. The wrongful-dismissal lawsuit was withdrawn on Nov. 2 after the court-mediated settlement, according to Tokyo District Court ...

China's yuan joins elite club of IMF reserve currencies

Oct 1, 2016

China's yuan joins elite club of IMF reserve currencies

China’s yuan is joining the International Monetary Fund’s basket of reserve currencies as of Saturday, a milestone for the government’s campaign for recognition as a global economic power. The yuan joins the dollar, euro, yen and pound in the IMF’s special drawing rights (SDR) ...

Sep 29, 2016

U.S. cutting off North Korea's sources of foreign currency

The United States is focusing on cutting off North Korea’s foreign currency sources to increase pressure on Pyongyang to abandon its nuclear program, a senior State Department official said Tuesday. “We’re focusing our efforts on cutting off sources of revenue for the regime’s unlawful ...