KBC Channel 1

Tag: Foreign Exchange

  • China’s foreign exchange reserves rise to $3.316 tln in September

    China’s foreign exchange reserves rise to $3.316 tln in September

    China’s foreign exchange reserves climbed to $3.3164 trillion at the end of September, a $28.2-billion increase, or 0.86-percent increase, compared to the end of August, according to data released by the State Administration of Foreign Exchange (SAFE) on Monday.

    This growth is influenced by shifts in monetary policies across major economies and macroeconomic data, which led to a decrease in the U.S. dollar index and a general rise in global financial asset prices, the administration said in a statement.

    China’s export sector sees continued improvement, driven by rising competitiveness of new trade formats such as cross-border e-commerce, market procurement, and overseas warehousing, Wen Bin, chief economist at China Minsheng Bank, told CGTN.

    “These innovative trading methods, along with strengthening trade ties under the Belt and Road Initiative, have sustained high export growth and stabilized cross-border capital flows,” Wen noted.

    He further emphasized that the slew of policy initiatives in currency, real estate, and capital markets has markedly enhanced market confidence. This upswing in sentiment has attracted international investors to Chinese assets at an accelerated pace, providing strong support for the stability of China’s foreign exchange reserves.

  • King Kanja and Bobby V Release EP Titled “Foreign Exchange”

    King Kanja and Bobby V Release EP Titled “Foreign Exchange”

    Talented Kenyan Musician based in the US King Kanja has released a brand new EP called “Foreign Exchange” together with his fellow musician and collaborator Bobby V from Atlanta, Georgia. That art work was released alongside the “Come Over” music video that shows the two musicians having lots of fun while on tour in Washington DC, Miami and Jamaica.

    Foreign Exchange has six tracks namely, “Mambo ni leo”, “Like This”, “Come Over”, “Caribbean Girl”, “Lituation” and “Oceans of You”. King Kanja who is now under new management, The Santiago Firm, said that he and Bobby V come up with their pieces of art spontaneously something he said allows their authenticity and passion to shine through every note and lyric.

    King Kanja

    “I have a series of producers who send me beats and whenever we are together backstage before shows, we put them on play and freestyle. Once in a while one of them hits off and we proceed with the studio recording. Also during studio sessions, some tracks are accomplished on the spot.” said Kanja.

    Bobby V

    The Kenyan American believes that their music in the EP Foreign Exchange will take listeners on a journey beyond borders owing to their diverse backgrounds and musical influences.

    Apart from his most recent release, King Kanja also has previous works like EPs Vibes released in the year 2017, Muchoki released in 2019 and albums Vibe Lord released in 2020 and Vibrations released same year.