Beijing has defended its currency against breaking the politically 7.0 level in recent years. Photo: Xinhua
China exchange rate drop could continue into 2020 as it tries to offset US tariff impact, analysts say
- Beijing’s decision to let yuan fall below key 7.0 level against US dollar means it has decided to use yuan as tool to fight the trade war, analysts said
- Some analysts see yuan weakening to 7.2 to the US dollar, about a 5 per cent depreciation from its exchange rate before the start of the trade war
Topic |
China economy
Beijing has defended its currency against breaking the politically 7.0 level in recent years. Photo: Xinhua