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

Karen Yeung and He Huifeng

Published: 9:45pm, 5 Aug, 2019

Updated: 6:49pm, 6 Aug, 2019

Beijing has defended its currency against breaking the politically 7.0 level in recent years. Photo: Xinhua

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Karen Yeung

Karen Yeung joined the Post in 2017 after more than 15 years' experience on global newswires in Hong Kong and Shanghai. She spent eight years in Shanghai and has received awards for best feature, analysis and agenda-setting.

He Huifeng

He Huifeng is an award-winning journalist and has been focusing on mainland news reporting since 2001 for several overseas media. She has gained an in-depth knowledge of political, economic and social issues on the mainland through years of close observation, which has given her a love for journalism in the field.