BEIJING: China has beefed up its defence of the sliding yuan, with the authorities releasing the strongest fixing on record relative to forecasts and issuing verbal warnings to short sellers.
The currency fell. The People’s Bank of China (PBoC) fixed the yuan at 6.9396 (RM4.53) per dollar, 647 pips stronger than the average estimate in a Bloomberg survey of analysts and traders.
Already a subscriber? Log in
Save 30% OFF The Star Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
