Yuan slips to new 16-month low even as PBOC extends support
4 days, 20 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 session close and 1.98% weaker than the midpoint. Prior to market opening, the central bank set the midpoint rate, around which the yuan is allowed to trade in a 2% band, at 7.1891 per dollar, its weakest since Dec. 27 and 1,247 pips firmer than a Reuters' estimate. LEVELS AT 0447 GMT INST CURR UP/D % DAY' DAY' RUME ENT OWN GE HIGH LOW USD VS. YR-T PREV O-DA IOUS TE CLOS E % Spot 7.33 0 -0.4 7.32 7.33 yuan 17 5 7 24

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History of this topic

Yuan eases to 16-month low, pressured by strong dollar
6 days, 21 hours 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 …

PBOC Boosts Support for Yuan After Currency’s Year-End Tumble
1 week, 5 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 …

Policies expected to focus on bolstering demand, stability of yuan
Trending News
2 weeks, 1 day ago

Policies expected to focus on bolstering demand, stability of yuan

China Daily  

Headquarters of the People's Bank of China, the central bank, is pictured in Beijing, China. China's monetary policymakers are expected to prioritize bolstering domestic demand while strengthening expectation guidance to prevent any sharp yuan depreciation in the coming year, economists and policy experts said. Luo Zhiheng, chief economist at Yuekai Securities, said in an interview with China Daily that he …

Policies expected to focus on bolstering demand, stability of yuan
Top News
2 weeks, 1 day ago

Policies expected to focus on bolstering demand, stability of yuan

China Daily  

By ZHOU LANXU and WANG KEJU | China Daily | Updated: 2024-12-31 07:08 Headquarters of the People's Bank of China, the central bank, is pictured in Beijing, China. China's monetary policymakers are expected to prioritize bolstering domestic demand while strengthening expectation guidance to prevent any sharp yuan depreciation in the coming year, economists and policy experts said. Luo Zhiheng, chief …

PBOC steps up bond market regulation against irregularities
2 weeks, 2 days ago

PBOC steps up bond market regulation against irregularities

China Daily  

By Zhou Lanxu | chinadaily.com.cn | Updated: 2024-12-30 20:40 File photo shows an exterior view of the People's Bank of China in Beijing, capital of China. The People's Bank of China, the country's central bank, has fined institutions and individuals responsible for detected irregular trading practices, intensifying its oversight of the interbank bond market amid a bull trend to maintain …

Fed Forces Asia To Choose: Accept Weaker Currencies or Push Back
3 weeks, 5 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 …

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 …

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 …

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 …

China may keep RMB stable if Fed cuts rates
4 months, 2 weeks ago

China may keep RMB stable if Fed cuts rates

China Daily  

A woman shows banknotes and coins included in the 2019 edition of the fifth series of the renminbi. With the United States appearing to be poised for interest rate cuts starting September, Chinese policymakers should strengthen monitoring of capital flows and prepare contingency plans against any potential sharp renminbi appreciation, analysts said. Stephen Jen, chief executive of British hedge fund …

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.” …

Market sees moves to stabilize yuan
6 months, 1 week ago

Market sees moves to stabilize yuan

China Daily  

Additional policy measures supportive of yuan stability appear to be in the pipeline, to counter the lingering uncertainties of US monetary policy and help the Chinese currency gain a firmer footing against the greenback in the second half of the year, analysts said. To ensure yuan stability, Liu said policymakers may need to take measures such as cutting the foreign …

China Restates Need for Steady Yuan Amid Fragile Confidence
8 months, 3 weeks ago

China Restates Need for Steady Yuan Amid Fragile Confidence

Hindustan Times  

China reiterated the need to prevent one-sided moves in the yuan, as a resurgent dollar and poor risk sentiment pressure currencies across Asia. China Restates Need for Steady Yuan Amid Fragile Confidence The nation will “resolutely” put the yuan back on track when traders place lopsided bets and it’ll also try to avoid excessive volatility, the People’s Bank of China …

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 …

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 …

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 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 …

PBOC to cut reserve ratio, add liquidity
3 years, 6 months ago

PBOC to cut reserve ratio, add liquidity

China Daily  

The People's Bank of China in Beijing. China's central bank announced on Friday it would reduce the cash financial institutions are required to keep in reserve and release about 1 trillion yuan of liquidity effective on Thursday, an expected measure undertaken to better support the real economy and keep corporate financing costs at a low level. The People's Bank of …

PBOC to cut reserve ratio, add liquidity
3 years, 6 months ago

PBOC to cut reserve ratio, add liquidity

China Daily  

The People's Bank of China in Beijing. China's central bank announced on Friday it would reduce the cash financial institutions are required to keep in reserve and release about 1 trillion yuan of liquidity effective on Thursday, an expected measure undertaken to better support the real economy and keep corporate financing costs at a low level. The People's Bank of …

Central banks up reserves of RMB to a high
3 years, 6 months ago

Central banks up reserves of RMB to a high

China Daily  

A cashier at a bank in Taiyuan, Shanxi province counts renminbi notes. In the first quarter this year, various central banks held $287.46 billion worth of Chinese RMB in official foreign exchange reserves, the highest level since the fourth quarter of 2016 and representing 2.45 percent of the total, the International Monetary Fund reported on Wednesday. The US dollar had …

China to stay on 'normal' policy path
4 years, 1 month ago

China to stay on 'normal' policy path

China Daily  

The People's Bank of China. PBOC report: Interest rates to be kept at low levels to support small firms China will maintain a normal monetary policy for as long as possible and keep interest rates at a relatively low level to support small business financing and maintain ample liquidity in the system, the People's Bank of China, the central bank, …

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 …

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 …

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 …

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 …

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