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HomeEconomyChina moves to support yuan as stock markets tumble

China moves to support yuan as stock markets tumble

Economy

Reuters exclusively reported that China’s major state-owned banks moved to support the yuan on Monday, tightening liquidity in the offshore foreign exchange market while actively selling U.S. dollars onshore as equities slid. 

Market Impact

The onshore yuan last traded at 7.1963 per dollar, down nearly 1.4% so far this year, while its offshore counterpart last fetched 7.2047. 

Article Tags

Topics of Interest: Economy

Type: Reuters Best

Sectors: Economy & Policy

Regions: Asia

Countries: China

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story


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