US dollar banknotes and Chinese 100 yuan banknotes at a money exchange shop in Causeway Bay on 5 August 2019. Photo: Roy Issa
China’s currency takes on the sheen of safe haven asset against volatility, ending third quarter with its biggest gains in 12 years
- Onshore renminbi gained 3.8 per cent in the three-month period ending September 30, the most since early 2008
- Offshore yuan advanced by more than 4 per cent in the third quarter
US dollar banknotes and Chinese 100 yuan banknotes at a money exchange shop in Causeway Bay on 5 August 2019. Photo: Roy Issa