Last week, the administration of US President Donald Trump designated China as a currency manipulator after the yuan’s value fell below the key level of 7 to the US dollar. Photo: AP

China may use foreign exchange reserves to fight US financial war risk, analysts say

  • The People’s Bank of China has maintained the world’s biggest pile of foreign exchange reserves at a stable level of around US$3.1 trillion in recent years
  • But it now may consider a more defensive stance, such as supporting the yuan’s exchange rate, as the tensions with the United States spread to finance
Topic |   Currency war

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Last week, the administration of US President Donald Trump designated China as a currency manipulator after the yuan’s value fell below the key level of 7 to the US dollar. Photo: AP
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