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AS China faces off against the U.S. in a burgeoning trade dispute, the country’s central bank is allowing the yuan to weaken against the dollar while also trying to prevent the kind of sharp devaluation that could have a destabilizing effect on its own economy.
SHANGHAI: China’s yuan traded in the offshore market is set for its biggest weekly gain, hovering around two-month highs after the authorities were suspected of pushing up overnight borrowing costs to discourage bearish bets on the currency.
Currency Insights - By Suresh Ramanathan
THE complexity plaguing the yuan is not for the faint hearted. To start with, the yuan is traded in both onshore China and offshore (Hong Kong) but at different rates.
SHANGHAI: The rare and dramatic slide in the yuan exchange rate that has shaken the outlook for the currency is unlikely to last long as trade rebounds and capital inflows resume.
LONDON: While local Chinese fret over the bursting of the Shanghai stock bubble, global investors are more worried about the yuan currency which once seemed destined to rise inexorably.
BENGALURU: The Chinese yuan will trim only some of its recent losses against the dollar over the coming year, with the People's Bank of China increasingly likely to intervene to support the currency against a still-rampant dollar, a Reuters poll found.
THE top-ranked yuan forecaster is betting the currency’s stunning advance has run its course for now.
Central bank fears sharp yuan drops could fuel capital outflows
SEOUL: South Korea's central bank chief said on Thursday that a recent spike in domestic deposits of Chinese yuan in South Korea was not a major cause for concern, suggesting that no serious measure was planned to limit local yuan accounts.
The speed at which China is opening up the country's capital account signals Beijing’s intent to boost the yuan's allure among foreign trade partners.