Chinese yuan sinks to its lowest level in a decade. What’s next?
6 years, 2 months ago

Chinese yuan sinks to its lowest level in a decade. What’s next?

CNN  

Hong Kong CNN Business — China’s battered currency is trading at its lowest point since the global financial crisis, leaving investors asking how much farther it might fall. In 2015 and 2016, huge sums of money flooded out of China as investors bet the yuan would keep falling, forcing Beijing to spend hundreds of billions of dollars to prop up its currency. Shutterstock Beijing wants “to avoid provoking the United States” ahead of Xi’s expected meeting with Trump at the G20 summit next month, the analysts wrote in a note to clients Monday. “I think it’s still fresh in our memory.” China does have tools it can use to counter the currency’s decline, including selling some of its huge war chest of US dollars.

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History of this topic

Dollar rises to 2-year high after strong data dims rate-cut prospects
1 day, 21 hours ago

Dollar rises to 2-year high after strong data dims rate-cut prospects

Live Mint  

The dollar hit fresh highs against several currencies, continuing its rise after Friday’s strong U.S. jobs data further dimmed prospects for Federal Reserve interest-rate cuts this year. Continued weakness in the yuan saw Chinese officials pledge to defend the currency as prospects of U.S. trade tariffs raise concerns. “The big question for the market now is whether the Fed really …

Yuan slips to new 16-month low even as PBOC extends support
5 days, 2 hours ago

Yuan slips to new 16-month low even as PBOC extends support

Live Mint  

By Summer Zhen HONG KONG, Jan 10 - China's yuan initially firmed on Friday after the central bank said it would suspend treasury bond purchases, triggering a jump in bond yields, but later fell back to fresh 16-month lows. Spot yuan opened at 7.3270 per dollar and was trading at 7.3317 by midday, 5 pips firmer than the previous late …

Yuan eases to 16-month low, pressured by strong dollar
1 week ago

Yuan eases to 16-month low, pressured by strong dollar

Live Mint  

SHANGHAI, Jan 8 - China's yuan fell to a 16-month low on Wednesday, pressured by a strong dollar and tariff threats from U.S. President-elect Donald Trump's incoming administration, despite the central bank setting stronger-than-expected guidance. "The yuan is expected to face depreciation pressure, not only from tariff hikes but also from a significantly stronger dollar," said Wang Tao, chief China …

Dollar on track for best week in a month
1 week, 4 days ago

Dollar on track for best week in a month

Live Mint  

* Dollar lower, but on track for best week in two months * Dour euro zone outlook weighs on euro this week * Traders price in about 40 bps of Fed rate cuts in 2025 By Karen Brettell NEW YORK, Jan 3 - The dollar dipped on Friday but was on track for its strongest weekly performance in a month …

Rupee logs 9th straight week of losses, analysts expect more weakness
1 week, 4 days ago

Rupee logs 9th straight week of losses, analysts expect more weakness

Live Mint  

By Siddhi Nayak MUMBAI, Jan 3 - The Indian rupee ended at a record closing low on Friday, pressured by a decline in the Chinese yuan, and logged a ninth straight week of losses due to the relentless rise in the U.S. dollar. China's yuan slid past the key 7.3 threshold to a 14-month low against the dollar on Friday …

PBOC Boosts Support for Yuan After Currency’s Year-End Tumble
1 week, 6 days ago

PBOC Boosts Support for Yuan After Currency’s Year-End Tumble

Live Mint  

-- China is keeping its hand firmly on the yuan, supporting the currency via the official daily reference rate after it slid to the weakest level since 2022 at year-end in offshore trading. China’s currency has come under pressure in recent months amid persistent concern about the country’s growth and escalating trade tensions with the US as President-elect Donald Trump …

The bad and good of rupee weakening against dollar
3 weeks, 1 day ago

The bad and good of rupee weakening against dollar

India Today  

The rupee, on December 19, fell to a record low against the dollar, breaching the 85 mark for the first time. Although the rupee has been seeing much volatility in recent months, it saw a big drop against the dollar ever since Donald Trump won the US presidential election, falling from 84.11 to a dollar on November 5 to 85.07 …

Fed Forces Asia To Choose: Accept Weaker Currencies or Push Back
3 weeks, 6 days ago

Fed Forces Asia To Choose: Accept Weaker Currencies or Push Back

Live Mint  

-- Central banks across Asia face a difficult decision after the Federal Reserve’s hawkish cut — stage a costly fight back against dollar strength, or stand by and watch their currencies falter. “It is hard to fight the higher dollar move against Asian currencies when it is primarily dollar driven, which means regional central banks would have to play defence …

‘Let yuan fall’: China’s new mantra to counter Trump tariff as Xi battles to revive economy
1 month ago

‘Let yuan fall’: China’s new mantra to counter Trump tariff as Xi battles to revive economy

Firstpost  

China is considering allowing its currency yuan to weaken in 2025 as the country braces for higher US trade tariffs as Donald Trump returns to the White House on January 20, 2025 As per analysts, the yuan may fall to 7.37 per dollar by the end of 2025, though a key factor will be how much Donald Trump raises tariffs …

Rupee slips to record low but central bank steps in to curb losses
1 month ago

Rupee slips to record low but central bank steps in to curb losses

Live Mint  

By Jaspreet Kalra MUMBAI, Dec 12 - The Indian rupee declined to its all-time low on Thursday, pressured by dollar bids in the non-deliverable forwards market and from importers while intervention by the central bank kept a lid on losses, traders said. Heightened dollar demand in the NDF market alongside strong dollar buying by local importers, including oil companies, have …

China’s Weaker Yuan Sends Ripples Across Emerging Market Currencies
1 month ago

China’s Weaker Yuan Sends Ripples Across Emerging Market Currencies

Live Mint  

Emerging-market currencies dropped Wednesday, with an index of developing-nation currencies heading for its steepest one-day loss in a week and a half. The depreciation supports Chinese exporters but raises risks of capital outflows and financial instability, challenges that could ripple through emerging markets tied to Chinese demand, as cheaper Chinese undercut competitors in other developing economies. The correlation between China’s …

Stocks Retreat as China Bump Fades Ahead of US CPI: Markets Wrap
1 month ago

Stocks Retreat as China Bump Fades Ahead of US CPI: Markets Wrap

Live Mint  

European stocks followed Asian shares lower as enthusiasm about China’s latest stimulus pledge faded, while traders await key inflation data from the US as well as a European Central Bank policy decision later this week. The Stoxx Europe 600 index snapped an eight-day streak of gains, with basic resources and consumer products and services giving up some of Monday’s gains …

3 factors that pulled China's yuan to 4-month low against dollar despite impressive PMI numbers
Trending News
1 month, 1 week ago

3 factors that pulled China's yuan to 4-month low against dollar despite impressive PMI numbers

Firstpost  

China’s yuan fell to a low 7.2675 per dollar, its weakest since July 24 on Monday despite private manufacturing survey showing that the country’s factory activity expanded at the fastest pace in five months in November Aiming to takeover US dollar and becoming world’s principal reserve currency, China’s yuan slipped to a four-month low raising concerns that the second largest …

China's yuan slides to 4-month low on tariff threats and mixed PMI data
1 month, 1 week ago

China's yuan slides to 4-month low on tariff threats and mixed PMI data

Hindustan Times  

SHANGHAI, - The yuan fell to a four-month low on Monday, as tariff threats and mixed purchasing managers' index data raised concern China's economy might need additional policy support. The onshore yuan dropped to a low of 7.2675 per dollar, its weakest since July 24, despite a private manufacturing survey on Monday showing China's factory activity expanded at the fastest …

Chinadaily.com.cn
1 month, 2 weeks ago

Chinadaily.com.cn

China Daily  

Yuan strengthens against greenback The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 24 pips to 7.1918 against the US dollar on Monday, according to the China Foreign Exchange Trade System. Over 100 trusted data matrixes planned China is aiming to establish more than 100 trusted data matrixes by 2028, forming a set of data matrix …

China's yuan weakens to 3-1/2-month low as Trump tariff threat weighs
2 months ago

China's yuan weakens to 3-1/2-month low as Trump tariff threat weighs

Hindustan Times  

SHANGHAI, - China's yuan skidded to a 3-1/2-month low against the dollar on Tuesday, hurt by broad strength in the U.S. currency and persistent market worries over higher tariffs on Chinese goods during Donald Trump's second presidency. During Trump's first presidency, the yuan weakened about 5% against the dollar in the initial round of U.S. tariffs on Chinese goods in …

Rupee slides, still better than other currencies: Is India, China growth threatening dollar?
2 months, 1 week ago

Rupee slides, still better than other currencies: Is India, China growth threatening dollar?

India Today  

The Indian rupee is down, but so are other major currencies against the US dollar. Despite its downward trajectory, however, the rupee is still well-placed against major currencies such as the Brazilian real, the Russian ruble, the Japanese yen, and the Canadian dollar. The Indian rupee has slid by 1.1 per cent against the dollar since January 1. In contrast, …

Dollar dips as US voters head to polls
2 months, 1 week ago

Dollar dips as US voters head to polls

Live Mint  

By Karen Brettell and Amanda Cooper -The U.S. dollar fell as U.S. voters headed to the polls on Tuesday, with the results of the elections likely to decide at least the near-term fate of the greenback. my sense is that people are cautious," said Steve Englander, head of global G10 FX research and North America macro strategy at Standard Chartered …

China Traders Remain Calm Despite Specter of Trump's Impact on Yuan
2 months, 3 weeks ago

China Traders Remain Calm Despite Specter of Trump's Impact on Yuan

Live Mint  

China's domestic yuan traders appear more confident than their offshore counterparts that the currency's turbulence will be contained around the US presidential election period. The onshore yuan has fallen 1.2% in October, while its offshore peer has dropped 1.6%. The central bank appears likely to intervene if the yuan keeps weakening, but there are a number of market players who …

Dollar struggles to find footing on rising bets of outsized Fed cut
4 months, 1 week ago

Dollar struggles to find footing on rising bets of outsized Fed cut

The Hindu  

The dollar stayed on the back foot on Thursday as renewed concerns over the U.S. economy's growth outlook bolstered expectations of a supersized rate cut from the Federal Reserve this month. Global markets have been on edge and stocks, in particular, have been badly bruised after softer-than-expected U.S. data this week reignited concerns that the growth outlook of the world's …

After war with yuan bears, China keen to avert sharp gains
4 months, 2 weeks ago

After war with yuan bears, China keen to avert sharp gains

The Hindu  

Having spent all year putting a floor under the tumbling yuan, China’s central bank is suddenly faced with the opposite problem and is turning to subtle ways to stop the currency from appreciating sharply. “While the pressure on the yuan may ease as the Fed may finally cut interest rates, there may be sudden and significant movements in capital flows.” …

Chinese stocks slide as investors maintain caution after US inflation report
10 months ago

Chinese stocks slide as investors maintain caution after US inflation report

Associated Press  

HONG KONG — China stocks were lower Wednesday after the overnight United States inflation report that signaled a diminished possibility of the Fed’s rate cut made investors cautious. Cathay Pacific Airways stock jumped 5.3% after it announced remarkable a 336% increase in operating profit in 2023, reaching 15.1 billion Hong Kong dollars and surpassing the previous record set in 2010. …

China's stocks hit nine-month low as Chinese yuan weakens
1 year, 4 months ago

China's stocks hit nine-month low as Chinese yuan weakens

Op India  

As China’s currency continues to weaken, Chinese stocks hit nine-month lows and the yuan fell on Monday as the authorities’ efforts to revive demand failed to inspire investors, reported Channel News Asia. According to Channel News Asia, analysts say Monday’s modest rate cut shows authorities are concerned about the risks of a major yuan selloff and capital flight, with any …

China exports slumped 12.4% in June from a year earlier as global demand weakened
1 year, 6 months ago

China exports slumped 12.4% in June from a year earlier as global demand weakened

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Dollar fast losing dominance as global reserve currency as rupee, yuan rise
1 year, 8 months ago

Dollar fast losing dominance as global reserve currency as rupee, yuan rise

Firstpost  

Dollar’s share of global reserves has declined by 11 per cent since 2016 on this adjusted basis, a report by Eurizon SLJ Asset Management said New Delhi: Dollar, which has been ruling as the global reserve currency, is gradually losing its dominance especially after the onset of the Russia-Ukraine war last year. The US currency saw a massive decline of …

Can Chinese yuan drub US dollar to become the most dominant currency?
1 year, 9 months ago

Can Chinese yuan drub US dollar to become the most dominant currency?

Firstpost  

The rising influence of China’s currency yuan has prompted questions about whether it can oust the US dollar as the world’s dominant currency. Yuan topples US dollar in Russia Russia turned to China’s currency amid Western sanctions following Moscow’s invasion of Ukraine last February. However, the US dollar still commanded Brazil’s total foreign reserves last year, with 80.42 per cent …

US dollar fast losing out to the Chinese yuan, says 'Doctor Doom' Nouriel Roubini
1 year, 11 months ago

US dollar fast losing out to the Chinese yuan, says 'Doctor Doom' Nouriel Roubini

Firstpost  

Nouriel Roubini said even though there is no currency yet which is capable of knocking the US dollar off its pedestal, but the greenback is rapidly losing its competitive advantage to the Chinese yuan New York: The US dollar is quickly losing its competitive edge and its status as the world’s main reserve currency is in jeopardy, said economist Nouriel …

China’s Yuan Hits 15-year Low, Days After Xi Extends Rule
2 years, 2 months ago

China’s Yuan Hits 15-year Low, Days After Xi Extends Rule

News 18  

China’s yuan hit a 15-year low against the US dollar on Tuesday, with investors spooked after President Xi Jinping gained complete dominance over the Communist Party at a key meeting last week. The offshore yuan — which is circulated outside mainland China and is more freely traded than currency in the domestic market — fell to 7.3735 against the dollar, …

China’s yuan slides to 14-year low after US rate hikes
2 years, 3 months ago

China’s yuan slides to 14-year low after US rate hikes

Associated Press  

BEIJING — China’s yuan fell to a 14-year low against the dollar Wednesday despite central bank efforts to stem the slide after U.S. interest rate hikes prompted traders to convert money into dollars in search of higher returns. On Wednesday, a deputy central bank governor, Liu Guoqiang, held a video meeting with Chinese bankers and told them to “maintain the …

China’s yuan sinks to record low against the dollar
2 years, 3 months ago

China’s yuan sinks to record low against the dollar

Al Jazeera  

Chinese currency’s slide comes despite central bank taking steps to prop up its value. China’s yuan has tumbled to a record low against the US dollar in offshore trading, joining a host of currencies experiencing sharp declines against the greenback. The offshore yuan, which is traded outside mainland China, fell to 7.2386 against the dollar on Wednesday, the Bloomberg news …

Asian stocks sink amid US CPI hike, Covid-19 scare from China
2 years, 7 months ago

Asian stocks sink amid US CPI hike, Covid-19 scare from China

Live Mint  

Asian stocks sank on Monday and bond yields ticked higher, as red-hot U.S. inflation reignited worries about even more aggressive Federal Reserve policy tightening, and a COVID-19 warning from Beijing added to concerns about global growth. Beijing's most populous district of Chaoyang announced on Sunday three rounds of mass testing to quell a "ferocious" COVID-19 outbreak that emerged at a …

Bitcoin Drops below $35,000 As China Intensifies Crackdown. Know Top Cryptocoin Prices Today
3 years, 6 months ago

Bitcoin Drops below $35,000 As China Intensifies Crackdown. Know Top Cryptocoin Prices Today

News 18  

Bitcoin plunged on Monday amid a nationwide crackdown against cryptocurrency mining in China. The world’s largest cryptocurrency dropped 1.17% to $34,998.68 as of 0815 hours IST on June 21 on coinmarketcap.com Index. About 65% of the world’s Bitcoin mining took place in China as of April 2020, according to an estimate by the University of Cambridge. The analysts cited China’s …

Bitcoin slides below $40,000 after China's fresh crypto curbs
3 years, 7 months ago

Bitcoin slides below $40,000 after China's fresh crypto curbs

The Hindu  

Bitcoin tumbled below the $40,000 mark on Wednesday hitting a 3-1/2 month low and dragging down other digital coins after China imposed fresh curbs on transactions involving cryptocurrencies. Bitcoin's moves hit other crypto assets too, with Ether, the coin linked to the ethereum blockchain network, falling 15% to $2,875.36, while meme-based dogecoin tumbled 18%, according to market tracker Coingecko. More …

Dollar’s slump propels global peers toward multi-year peaks
4 years, 1 month ago

Dollar’s slump propels global peers toward multi-year peaks

Live Mint  

The dollar’s protracted decline is spurring Group-of-10 peers toward multi-year highs. China’s economic rebound and bets on a successful roll-out of vaccines are bringing key levels into play for currencies from the euro to the Aussie and the Canadian dollar. “The improving outlook for global growth, combined with strong signals from the Fed that it will maintain loose monetary policy …

Rupee falls 19 paise to 75.90 in early trade; Asian currencies turn weak due to escalation of US-China tensions
4 years, 7 months ago

Rupee falls 19 paise to 75.90 in early trade; Asian currencies turn weak due to escalation of US-China tensions

Firstpost  

The rupee depreciated 19 paise to 75.90 against the US dollar in opening trade on Thursday tracking weak Asian currencies amid an escalation of tension between the US and China Mumbai: The rupee depreciated 19 paise to 75.90 against the US dollar in opening trade on Thursday tracking weak Asian currencies amid an escalation of tension between the US and …

Chinese shares plunge as investors cut risks over virus outbreak
4 years, 11 months ago

Chinese shares plunge as investors cut risks over virus outbreak

Al Jazeera  

Chinese stock markets opened after Lunar New Year holidays that were extended due to the spread of the coronavirus. “The PBOC’s hint of lowering interest rates is tempering the immediate downside … but the economic reality check could come later today or this week,” Stephen Innes, Asia Pacific market strategist at AxiTrader told Al Jazeera. Index compiler MSCI’s broadest index …

Yuan rises as US lifts China’s currency manipulator label – Asian market latest
5 years ago

Yuan rises as US lifts China’s currency manipulator label – Asian market latest

CNN  

Hong Kong CNN Business — The Chinese yuan strengthened Tuesday to its highest level in more than five months as the United States removed China from its currency manipulator list. The US Treasury Department on Monday stripped away its designation of China as a currency manipulator, days before US President Donald Trump and senior Chinese officials are expected to sign …

Dollar, yen supported as caution prevails on mixed trade signals
5 years, 1 month ago

Dollar, yen supported as caution prevails on mixed trade signals

India Today  

The dollar and the safe-haven yen found support on Wednesday as a lack of clarity on US-China trade talks kept investors cautious ahead of the release of minutes from the US Federal Reserve's last policy meeting. Moves were slight as jaded traders again weighed mixed messages on trade, with more upbeat reports offset by US President Donald Trump delivering yet …

China’s August exports shrink as tariff war hurts US sales
5 years, 4 months ago

China’s August exports shrink as tariff war hurts US sales

Live Mint  

Beijing/Tokyo: China’s exports unexpectedly contracted in August, with sales to the US tumbling amid the escalating trade war between the two nations. Exports decreased 1% in dollar terms from a year earlier, while imports declined 5.6%, leaving a trade surplus of $34.84 billion, the customs administration said Sunday. China and the US will hold face-to-face trade negotiations in Washington in …

Rupee slips 42 paise to 72.08 against dollar in early trade, currency comes under pressure after escalation of US-China trade war
5 years, 4 months ago

Rupee slips 42 paise to 72.08 against dollar in early trade, currency comes under pressure after escalation of US-China trade war

Firstpost  

At the Interbank Foreign Exchange, the rupee opened at 72.03 then fell to 72.08 against the US dollar, showing a decline of 42 paise over its previous closing. The rupee on Monday declined by 42 paise to 72.08 against the US currency in early trade, due to strong dollar demand from banks and importers amid unabated foreign fund outflows. The …

Opinion | The Yuan’s devaluation has made investors nervous
5 years, 5 months ago

Opinion | The Yuan’s devaluation has made investors nervous

Live Mint  

Earlier this week, the Chinese yuan broke the seven-to-one parity against the dollar for the first time since 2008. The People’s Bank of China, which had maintained this level consistently till now, deliberately moved to devalue the Chinese currency after the latest tariff threats issued by US President Donald Trump. The act marks a shift of focus in the current …

China is trying to weaken its currency without freaking markets
5 years, 5 months ago

China is trying to weaken its currency without freaking markets

CNN  

Hong Kong CNN Business — All eyes have been on China this week after it allowed a surprise devaluation of its currency on Monday, sending global markets into a tailspin. In fact, Thursday’s yuan rate fix shows that the country is comfortable with its “new normal,” said Ken Cheung Kin Tai, chief foreign exchange strategist for Asia at Mizuho Bank …

ASX recovers after China stabilises currency, but dragged down by disappointing CBA result
5 years, 5 months ago

ASX recovers after China stabilises currency, but dragged down by disappointing CBA result

ABC  

The Australian share market has recovered slightly from its heavy bleeding, which led to $90 billion being wiped off the ASX boards earlier this week. Key points: Worsening US-China trade relations triggered a global market sell-off at the start of the week Stocks have recovered slightly after China intervened late yesterday to strengthen the yuan Australia's market lost $90 billion …

Trump’s unrelenting global trade wars have sealed our financial fate
5 years, 5 months ago

Trump’s unrelenting global trade wars have sealed our financial fate

The Independent  

I keep a 1 yuan coin on my keyboard. The Chinese authorities’ response has been to allow the renminbi to drift lower – “manipulating” it, in US terms. Indeed, the yield on long-dated German government bonds has turned negative, meaning that you, the “depositor”, will actually get marginally less back in cash terms in three decades than you have lent …

US-China trade war intensifies: Donald Trump administration designates Beijing a currency manipulator
5 years, 5 months ago

US-China trade war intensifies: Donald Trump administration designates Beijing a currency manipulator

Firstpost  

The Trump administration’s dramatic move against China hastened the risk aversion seen in global markets this week Tokyo: Global stocks extended their already substantial losses and the offshore yuan hit an all-time low on Tuesday after Washington designated Beijing a currency manipulator in a rapid escalation of the US-China trade war. “Following the latest development in the US-China trade war, …

China's Currency Falls To Lowest Exchange Rate In 11 Years
5 years, 5 months ago

China's Currency Falls To Lowest Exchange Rate In 11 Years

NPR  

China's Currency Falls To Lowest Exchange Rate In 11 Years Enlarge this image toggle caption Andy Wong/AP Andy Wong/AP China's yuan plunged to below 7 per U.S. dollar on Monday morning, the lowest valuation for the currency in 11 years. "The drop suggests that the central bank of China is willing to weaponize the currency in light of the trade …

Trump administration labels China a currency manipulator
5 years, 5 months ago

Trump administration labels China a currency manipulator

CNN  

Washington D.C. CNN Business — The Trump administration on Monday designated China a “currency manipulator,” after the country’s central bank allowed its currency to weaken amid the ongoing trade dispute. Not anymore!” The People’s Bank of China allowed its currency to fall below 7 yuan to the American dollar, which is considered to be a psychologically important marker, for the …

Yuan fall: The United States and China may be headed for a currency war
5 years, 5 months ago

Yuan fall: The United States and China may be headed for a currency war

CNN  

London CNN Business — China may have just fired the opening shot of a currency war with the United States. The Chinese central bank said the move mostly reflected market concern about “trade protectionism and new tariffs on China.” President Donald Trump escalated the trade war last week by announcing that the United States would tax just about every Chinese …

Asian market latest: Yuan hits lowest level against the dollar in over a decade
5 years, 5 months ago

Asian market latest: Yuan hits lowest level against the dollar in over a decade

CNN  

Hong Kong CNN Business — The Chinese yuan dropped sharply on Monday to its weakest level against the US dollar in more than a decade, raising fears of further dangerous escalation in the US-China trade war. China’s central bank sets a “band” every day within which the yuan’s value is only allowed to move 2% up or down. The central …

Forget the trade war, China’s economy has other big problems
6 years, 2 months ago

Forget the trade war, China’s economy has other big problems

CNN  

Hong Kong CNN Business — China is riding out the trade war so far but its economic troubles run deep and could escalate rapidly if US tariffs really start to bite. “China’s growth has been highly credit intensive,” said Gerard Burg, Sydney-based senior economist at National Australia Bank. Beijing appears to have again started dipping into its massive war chest …

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