China's renminbi is expected to continue its steady rise in global use and play a bigger part in safeguarding international financial stability, as the country further advances its financial opening-up while deepening trade and investment cooperation, experts said.

The cross-border use of RMB reached 36.61 trillion yuan (5.24 trillion U.S. dollars) in 2021, up 29 percent year on year, China's central bank said Friday.

The Central Bank of the United Arab Emirates said on Wednesday it was hiking its base rate by three quarters of a percentage point to 3.15% effective from Thursday, moving in parallel with the U.S. Federal Reserve's third straight hike of that size as its currency is pegged to the dollar.

The head of the supervisory board of Russia's leading stock exchange said on Thursday the group does not rule out spinning off and selling its dollar-rouble currency trading operations as a separate business.

Guangdong-Macao In-Depth Cooperation Zone in Hengqin will establish an investment company. The company will become a matchmaking agent between large companies and Hengqin's four major industries, said Wang Weizhong, Governor of Guangdong Province at the third meeting of the Management Committee of the Cooperation Zone on August 12.

The Regional Comprehensive Economic Partnership (RCEP) free trade agreement is becoming a key contributor to regional and global economic growth in the post-COVID-19 pandemic era, a Cambodian academic said.

China has played an essential role in Africa's supply chain development by addressing related challenges, such as the COVID-19 pandemic and regional conflicts, and has helped improve socioeconomic development on the continent, African officials said on Tuesday.

The Bank of Japan said it would boost scheduled bond purchases as the intensifying Treasuries selloff puts upward pressure on global yields and weakens the yen.

Efforts will be made to introduce novel futures products themed on carbon emissions rights, logistics and indexes in China so that the financial sector can better serve the real economy and address the country's major development strategies, said China Securities Regulatory Commission Vice-Chairman Fang Xinghai at a forum on Tuesday.

Although the renminbi might continue to face downward pressures against the US dollar in the short term, the Chinese currency is capable of maintaining overall stability and may bounce back by the end of the year, currency market experts said on Tuesday.

Zambia will not be paying its $750 million euro bond due in September until new terms of payment are agreed between the government and bondholders, its Finance Minister Situmbeko Musokotwane said on Sunday. The International Monetary Fund (IMF) on Thursday approved a $1.3 billion, 38-month loan programme, a step taken after its main creditors China and France agreed in July to negotiate to restructure the southern African country's debt.

China's central bank on Monday said that it will cut the foreign exchange reserve requirement ratio for financial institutions by 2 percentage points from Sept. 15.