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Chinese Yuan Hits over Two-Week Low Against Dollar as PBOC Signals Caution on Appreciation
Summary by The Economic Times
4 Articles
4 Articles
Chinese yuan hits over two-week low against dollar as PBOC signals caution on appreciation
Chinas yuan weakened to a more than two-week low against the dollar after the central bank set a weaker daily fixing and raised foreign exchange reserve requirements. The moves signal Beijings efforts to moderate the currencys rapid appreciation.
·Mumbai, India
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A stronger currency seems good news: it allows you to buy more abroad. For a country that sells many products across borders, however, it can become a problem of competitiveness. It is this balance that makes interesting the new move of China on the yuan, even for those who look at the markets from Italy. The Chinese People's Bank announced
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