close

News WrapGet Handpicked Stories from our editors directly to your mailbox

yuan

Yuan weakens to 11-1/2-year low on trade fatigue, but PBOC fixing offers some relief

Losses were kept in check, however, after the central bank set a daily midpoint that was stronger than traders expected, raising hopes it was again trying to stabilise the currency.

Aug 27, 2019, 10:56 AM IST

Yuan falls to fresh 11-year lows on trade war worries, despite state bank support

Traders said sentiment was fragile, with recent news headlines offering little hope of a U.S-China trade deal anytime soon and new U.S. levies on Chinese goods set to go into effect on Sept. 1.

Aug 22, 2019, 15:36 PM IST

China's Yuan steadies but stocks plunge as trade tensions grow

The currency has slumped 2.3% over the past three days and broken past the symbolic 7-per-dollar level, pounding stocks and pushing bonds higher as investors feared the yuan`s value has become a new front in the U.S.-China trade war.

Aug 06, 2019, 12:29 PM IST

Wall Street sinks as yuan slide inflames US-China trade dispute, Dow falls 767 points

The yuan weakened past the key seven-per-dollar level to its lowest level in 11 years, after the People`s Bank of China, with the blessing of policymakers in Beijing, set its daily midpoint at the weakest level in eight months.

Aug 06, 2019, 10:28 AM IST

China lets yuan break key seven level for first time in decade as trade war worsens

The sharp 1.4% drop in the yuan comes days after US President Donald Trump stunned financial markets by vowing to impose 10% tariffs on the remaining $300 billion of Chinese imports from September 1.

Aug 05, 2019, 14:37 PM IST

On the brink of trade war? China retaliates over Trump tariff plan, announces duties on key US imports

Unlike Washington's list, which was filled with many obscure industrial items, China's list strikes at signature US exports.

Apr 04, 2018, 14:48 PM IST

CPEC turns into challenge for China; entire One Belt One Road project could be at stake

Any strains for CPEC are bound to have wide repercussions for China's attempts in other countries.

Dec 06, 2017, 20:34 PM IST

After rejecting China's dam, Pakistan refuses free use of yuan for CPEC projects

The Dawn reported quoting a senior government official that Pakistan was not ready to allow the Chinese yuan (renminbi) for free use in Gwadar or its treatment on a par with the US dollar in the country.

Nov 21, 2017, 12:23 PM IST

China's yuan posts best month since 2005 revaluation

China`s yuan eased on Thursday but posted its biggest monthly gain at the month-end, in percentage terms, since the Chinese currency was revalued and taken off a fixed dollar peg in 2005.

Aug 31, 2017, 15:10 PM IST

Yuan hits 6-1/2-month high; other currencies rise in tight range

Asian currencies rose on Wednesday as strong manufacturing data from China coupled with a risk-happy market environment spurred interest in emerging currencies, with the Chinese yuan jumping to its highest in six-and-a-half months.

May 31, 2017, 12:47 PM IST

China's reforms not enough to arrest mounting debt: Moody's

China`s structural reforms will slow the pace of its debt build-up but will not be enough to arrest it, and another credit rating cut for the country is possible down the road unless it gets its ballooning credit in check, officials at Moody`s said.

May 26, 2017, 12:03 PM IST

Moody's downgrading based on inappropriate methodology: China

China's Finance Ministry today dismissed a credit downgrade by Moody's, saying it is based on "inappropriate methodology" and argued that the rating firm has overestimated the difficulties faced by the world's second largest economy.

May 24, 2017, 20:57 PM IST

Moody's downgrades China for the first time in 30 years, warns of fading financial strength as debt mounts

Moody`s Investors Service downgraded China`s credit ratings on Wednesday for the first time in nearly 30 years, saying it expects the financial strength of the economy will erode in coming years as growth slows and debt continues to rise.

May 24, 2017, 09:17 AM IST

China is confident economy grew 6.7% in 2016

China is confident to have reached an economic growth of 6.7 percent in 2016, within a targeted range set earlier in the year, Vice Finance Minister Zhu Guangyao said on Sunday.

Jan 08, 2017, 22:14 PM IST

China's yuan lost 7% value in 2016, worst in 22 years

China has reduced the share of US dollars in its foreign exchange basket and added 11 more currencies for measuring the yuan which lost about seven percent value against US dollar last year becoming the worst-performing major Asian currency, a media report said.

Jan 02, 2017, 17:16 PM IST

China's stock markets among world's worst performing in 2016

The benchmark Shanghai Composite Index (SCI) struggled towards the finish line Thursday down 12.5 percent for the year, compared to falls of 0.6 percent by the Hang Seng Index in Hong Kong and 2.2 percent for Japan’s Nikkei 300.

Dec 30, 2016, 09:38 AM IST

Chinese yuan at 8-year low after US Fed raises key interest rate

China's currency renminbi today fell to an eight-year low against the US dollar over fears of capital outflows and the communist giant's main stock exchange closed lower after the US Federal Reserve's move to raise the benchmark interest rate for the first time this year.

Dec 15, 2016, 19:21 PM IST

China weakens yuan to eight-year low against US dollar

The central People`s Bank of China set the value of the yuan -- also known as the renminbi -- at 6.8495 to the greenback, down 0.30 percent from Monday`s fixing, according to data from the Foreign Exchange Trade System. 

Nov 15, 2016, 16:30 PM IST

China's forex reserves drops to lowest since 2011

The world's largest currency hoard fell to USD 3.12 trillion last month, down USD 45.7 billion from September, marking the lowest level since March 2011, according to data from the People's Bank of China.

Nov 07, 2016, 22:19 PM IST

China to invest $140 billion to relocate poor citizens to more developed areas

The funds will be used mainly to construct homes, support facilities and basic public infrastructure, with the rest going to the restoration of vacated lands, state planner National Development and Reform Commision (NDRC) said in a document. 

Oct 31, 2016, 16:36 PM IST