Chinese yuan hit 17-month low amid rising concerns over economic outlook, strengthening US dollar

Chinese yuan dollar

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Chinese yuan slipped to nearly a 17-month lows against the US dollar as more Covid-19 lockdowns put more pressure on the economic outlook, and as the US dollar continued to strengthen.

The onshore spot yuan closed day trading at 6.6115 per US dollar on Thursday, its weakest level since November 13, 2020, depreciating by 546 pips from the previous day. The onshore yuan hit 6.64 per dollar mark at one point . . .

 

 

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