The downward pressure on the yuan has grown as hostility flared over Beijing’s decision to impose a new security law on Hong Kong. Photo: AP The downward pressure on the yuan has grown as hostility flared over Beijing’s decision to impose a new security law on Hong Kong. Photo: AP
The downward pressure on the yuan has grown as hostility flared over Beijing’s decision to impose a new security law on Hong Kong. Photo: AP

China steps in to defend the yuan, as US tensions and Hong Kong uncertainty send currency tumbling

  • The onshore central parity – the midpoint of the yuan’s permitted daily trading range – was set at 7.1316 against the US dollar on Friday morning
  • Facing downward pressures from Hong Kong’s loss of autonomy in the eyes of the US and geopolitical turmoil, China has signalled it will defend the currency

Topic |   People’s Bank of China
The downward pressure on the yuan has grown as hostility flared over Beijing’s decision to impose a new security law on Hong Kong. Photo: AP The downward pressure on the yuan has grown as hostility flared over Beijing’s decision to impose a new security law on Hong Kong. Photo: AP
The downward pressure on the yuan has grown as hostility flared over Beijing’s decision to impose a new security law on Hong Kong. Photo: AP
READ FULL ARTICLE