The yuan’s share in international payments dropped to 1.81 per cent in July from 1.99 per cent in June, slipping behind the Canadian dollar as the sixth most-used international transaction currency. Photo: AFP

China’s dream of making the yuan a global currency hit by Hong Kong protests, depreciation, analysts say

  • The yuan slipped to the sixth most-used international transaction currency in July, behind the Canadian dollar, according to financial messaging service provider Swift
  • Chinese authorities have let the yuan’s exchange rate depreciate by about 15 per cent against the US dollar since the onset of the US trade conflict in March last year
Topic |   Yuan

TOP PICKS

The yuan’s share in international payments dropped to 1.81 per cent in July from 1.99 per cent in June, slipping behind the Canadian dollar as the sixth most-used international transaction currency. Photo: AFP
READ FULL ARTICLE
The yuan has dropped about 4 per cent against the US dollar so far this month. Photo: AFP

China could depreciate yuan further if trade war escalates, IMF says, rebuking currency manipulator charge

  • International Monetary Fund says the recent Chinese yuan weakening, which sparked currency war concerns, is in line with market ‘fundamentals’
  • IMF shuns thorny question over whether China is a ‘currency manipulator’ as alleged by US President Donald Trump in annual review
Topic |   US-China trade war

TOP PICKS

The yuan has dropped about 4 per cent against the US dollar so far this month. Photo: AFP
READ FULL ARTICLE