China’s Rise: Singapore Banks to roll out more Renminbi Products

Expectations that Singapore will have an expanded role in the offshore yuan business have accelerated local banks' move into new products for the Chinese currency.

Latvia to adopt Euro as of Jan. 1, 2014

The economic and financial affairs council of the European Union (Ecofin) passed on July 9 a decision allowing Latvia to adopt the euro as its currency as of January 1 2014.