Highlights of Monetary Policies in H1 2024

On January 15, with RMB779 billion worth of medium-term lending facility (MLF) expired, the People’s Bank of China (PBOC) conducted MLF operations in the amount of RMB995 billion, with an interest rate of 2.5 percent, unchanged from the previous operations.

On January 22, with the authorization of the PBOC, the National Interbank Funding Center (NIFC) announced the Loan Prime Rate (LPR) as follows: the one-year and the over-five-year LPR would be 3.45 percent and 4.20 percent, respectively, unchanged from the previous announcement.

South African Rand Currency

The South African rand (ZAR) is the currency of South Africa and is issued by the South African Reserve Bank. The South African rand has the symbol R. It is subdivided into 100 cents. The name is derived from the word ‘Witwatersrand’, which means ‘ridge of white waters’. The ridge is where most of South Africa’s gold deposits were found and where Johannesburg was built.

Australian Dollar Currency

Established in 1966, the Australian dollar (AUD) is the official currency of Australia and several countries and territories, including Christmas Island, Cocos Islands, Norfolk Island, Nauru, Tuvalu, and Kiribati. The Australian dollar symbol is $, however, symbols such as A$ or AU$ are also used to distinguish the Australian dollar from other dollar-denominated currencies. The Australian dollar, also known as the ‘buck’, ‘dough’ and ‘aussie’, ranks as the fifth most traded currency in the world.

Hong Kong Dollar Currency

Introduced in 1863, the Hong Kong dollar (Chinese: 港元), or HKD, is the official currency of Hong Kong. The symbol of the Hong Kong dollar is $, along with HK$, which is sometimes used to distinguish Hong Kong dollars from other dollar-denominated currencies. Hong Kong dollars are also used in Macau, where the local currency Macau patacan is pegged to HKD.

British Pound Currency

The pound sterling, or GBP, is the official currency of the United Kingdom. The pound is also used in Jersey, Guernsey, Gibraltar, the Isle of Man, South Georgia and the South Sandwich Islands, the British Antarctic Territory, and Tristan da Cunha. The GBP is subdivided into 100 pence. The symbol for the British pound is £. The pound sterling is the oldest currency in continuous use and is the fourth most traded currency in the foreign exchange market, after the US dollar, euro and Japanese yen.

Euro Currency

The official currency used in the Eurozone is the euro (EUR). The eurozone consists of the 17 states of the European Union: Austria, Cyprus, Estonia, Portugal, Belgium, Germany, Malta, Portugal, Netherlands, Italy, Ireland, Greece, Luxemburg, France, Slovakia, Spain, and Slovenia. The euro is the second-largest currency that is traded worldwide.