China’s yuan reaches lowest value since 2008
The value of China’s yuan dropped to an eight-year low in currency markets after the People’s Bank of China lowered its reference point for the 12th day in a row. The decline in value has […]
Yuan
Plummeting yuan nears lowest value in 6 years
China’s yuan, weakened by a surge in capital flight, approached a six-year low against the US dollar Tuesday. The government is tightening measures to limit capital outflow, including restrictions on using bitcoin to transfer money […]
China’s yuan plummets to 6-year low
China’s yuan fell 0.2% against the US dollar in Shanghai trading Thursday, taking it to its lowest level in six years after the People’s Bank of China made the biggest cut in the currency’s reference […]
Goldman Sachs notes rising capital outflow from China
Goldman Sachs estimates that the capital outflow from China is growing, with US$55 billion in July after US$49 billion in June. The Shenzhen-Hong Kong stock link could accelerate the flow, contributing to downward pressure on […]
China’s central bank says it’s trying to stabilize yuan
China is looking to improve policy for yuan-based cross-border services and the offshore market for the yuan while working hard to stabilize the currency, said central bank Deputy Governor Chen Yulu. Speculation has risen that […]