A man walks past the PBoC building in Beijing. — Bloomberg
BEIJING: China ramped up its support for the yuan with a warning and tweaks to its capital controls after the currency dropped close to a record low against the US dollar in offshore trading.
The People’s Bank of China (PBoC) and other regulators will strengthen their management of the foreign exchange market, deal with any behaviour that may disrupt market order, and prevent the risks of an overshoot in the yuan.
