China Currency Depreciation

The rupee on Monday declined by 36 paise and closed to an over nine-month low. The rupee opened lower at 72.03 and fell to an intraday low of 72.25 against the greenback. The rupee settled at 72.02 against the American currency. The depreciation in rupee was in line with weakness in currencies such as Turkish lira, Chinese yuan, and Australian doll...

Prior to the market opening, the People's Bank of China (PBOC) set the midpoint rate at 7.049 per dollar prior to market open, weaker than the previous fix of 7.0433.

The rupee nosedived 113 paise or 1.62 per cent against the US dollar and breached the 70-mark on Monday, news agency Press Trust of India (PTI) reported. The fall in rupee's value marked the biggest single-day drop in the last six years. The depreciation came on the back of escalation of trade tensions between the United States and China, a sharp d...

The rupee depreciated by 15 paise to 71.02 against the US dollar in early trade on Tuesday at the interbank foreign exchange, after US President Donald Trump suggested a tariff hike on Chinese goods, reported news agency Press Trust of India (PTI). The rupee opened weak in line with other Asian currencies after Mr Trump on Monday said that for any ...

China's central bank has said there is no basis for "further depreciation" of its currency but asserted that it would continue to pursue market-based exchange rate reform.

China's central bank has drafted plans to impose a tax on currency trades, in what would be its latest volley against those betting on a depreciation of the yuan.

The International Monetary Fund (IMF) has said it does not expect a very dramatic depreciation of the Chinese yuan anytime soon, but the multilateral agency has instruments in place to deal with volatility on account of any further devaluation.

Chinese policymakers tried to assure world leaders last week that they have no intention of pushing the value of the yuan down further to gain a competitive advantage. Their most pressing task though is to persuade financial markets.

China's central bank held the line on its yuan for a fourth straight session on Wednesday while putting the squeeze on offshore sellers of the currency, calming fears of a sustained depreciation - at least for now.

China's central bank held the line on its yuan for a fourth straight session on Wednesday while putting the squeeze on offshore sellers of the currency, calming fears of a sustained depreciation - at least for now.

The government on Friday called the slide in China's yuan a "worrying" development for its flagging exports and said it was discussing possible measures to deal with a likely surge in imports from its northern neighbour.

The higher-than-expected depreciation in China's currency on Thursday has triggered a turmoil in global financial markets.

China accelerated the depreciation of the yuan on Thursday, sending currencies across the region reeling and domestic stock markets tumbling, as investors feared the Asian giant was kicking off a trade war against its competitors.

Worries about the Chinese economy rose after China's government depreciated its yuan currency in August, triggering concerns about a slower pace of growth in the world's number two economy.

China will push forward market-based reform of its currency regime and make the yuan convertible on the capital account over time, President Xi Jinping told the Wall Street Journal in an interview published on Tuesday.

The rupee on Monday declined by 36 paise and closed to an over nine-month low. The rupee opened lower at 72.03 and fell to an intraday low of 72.25 against the greenback. The rupee settled at 72.02 against the American currency. The depreciation in rupee was in line with weakness in currencies such as Turkish lira, Chinese yuan, and Australian doll...

Prior to the market opening, the People's Bank of China (PBOC) set the midpoint rate at 7.049 per dollar prior to market open, weaker than the previous fix of 7.0433.

The rupee nosedived 113 paise or 1.62 per cent against the US dollar and breached the 70-mark on Monday, news agency Press Trust of India (PTI) reported. The fall in rupee's value marked the biggest single-day drop in the last six years. The depreciation came on the back of escalation of trade tensions between the United States and China, a sharp d...

The rupee depreciated by 15 paise to 71.02 against the US dollar in early trade on Tuesday at the interbank foreign exchange, after US President Donald Trump suggested a tariff hike on Chinese goods, reported news agency Press Trust of India (PTI). The rupee opened weak in line with other Asian currencies after Mr Trump on Monday said that for any ...

China's central bank has said there is no basis for "further depreciation" of its currency but asserted that it would continue to pursue market-based exchange rate reform.

China's central bank has drafted plans to impose a tax on currency trades, in what would be its latest volley against those betting on a depreciation of the yuan.

The International Monetary Fund (IMF) has said it does not expect a very dramatic depreciation of the Chinese yuan anytime soon, but the multilateral agency has instruments in place to deal with volatility on account of any further devaluation.

Chinese policymakers tried to assure world leaders last week that they have no intention of pushing the value of the yuan down further to gain a competitive advantage. Their most pressing task though is to persuade financial markets.

China's central bank held the line on its yuan for a fourth straight session on Wednesday while putting the squeeze on offshore sellers of the currency, calming fears of a sustained depreciation - at least for now.

China's central bank held the line on its yuan for a fourth straight session on Wednesday while putting the squeeze on offshore sellers of the currency, calming fears of a sustained depreciation - at least for now.

The government on Friday called the slide in China's yuan a "worrying" development for its flagging exports and said it was discussing possible measures to deal with a likely surge in imports from its northern neighbour.

The higher-than-expected depreciation in China's currency on Thursday has triggered a turmoil in global financial markets.

China accelerated the depreciation of the yuan on Thursday, sending currencies across the region reeling and domestic stock markets tumbling, as investors feared the Asian giant was kicking off a trade war against its competitors.

Worries about the Chinese economy rose after China's government depreciated its yuan currency in August, triggering concerns about a slower pace of growth in the world's number two economy.

China will push forward market-based reform of its currency regime and make the yuan convertible on the capital account over time, President Xi Jinping told the Wall Street Journal in an interview published on Tuesday.