Traders said yuan weakness may persist, reflecting broad US dollar strength in global markets as US Federal Reserve officials showed no signs of backing down from their hawkish rhetoric. Photo: EPA-EFE
Traders said yuan weakness may persist, reflecting broad US dollar strength in global markets as US Federal Reserve officials showed no signs of backing down from their hawkish rhetoric. Photo: EPA-EFE
Yuan

China’s yuan falls to lowest level against US dollar since 2008 global financial crisis

  • China’s onshore yuan closed at 7.2494 per US dollar on Friday, representing the weakest close since January 14, 2008
  • Reports said Chinese state-owned banks were seen selling US dollars in the onshore foreign exchange market on Friday in an apparent attempt to stabilise the currency

Traders said yuan weakness may persist, reflecting broad US dollar strength in global markets as US Federal Reserve officials showed no signs of backing down from their hawkish rhetoric. Photo: EPA-EFE
Traders said yuan weakness may persist, reflecting broad US dollar strength in global markets as US Federal Reserve officials showed no signs of backing down from their hawkish rhetoric. Photo: EPA-EFE
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