Many banks are adjusting their forecasts for the yuan in the light of its depreciation after more than a year of trade war with the US. Photo: Roy Issa

China’s yuan exchange rate set to post largest monthly decline since 1994

  • Yuan falls 3.8 per cent against the US dollar in August, the largest decline since China unified its two exchange rates more than 25 years ago
  • Analysts expect China to let the yuan continue to depreciate to offset the impact of higher US trade tariffs
Topic |   Yuan

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Many banks are adjusting their forecasts for the yuan in the light of its depreciation after more than a year of trade war with the US. Photo: Roy Issa
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Karen Yeung

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.