The Chinese yuan broke through the key psychologically line of 6.9 yuan per dollar in the onshore market on Friday for the first time since last December amid escalating trade conflict with the United States.
The onshore yuan closed the day at 6.9188 per dollar, down over 0.5 per cent from the previous day, while the offshore yuan weakened to 6.95 per dollar at one point and closed at 6.9486 per USD.
For the whole week, the onshore yuan weakened nearly 1.6 per cent, ore 1070 pips and the offshore yuan depreciated 1.5 . . .
To continue reading, please subscribe.
We highly value independence. Yuan Talks is solely funded by subscriptions from thousands of intelligent readers like you.
What you'll get:
- Systematic, timely and data-driven reporting on China's economy and financial markets with details, data and perspectives you don't read elsewhere!
- Daily Brief newsletter delivered before market open every weekday wrapping up the most important China-related stories.
- Weekly Market Wrap-up on A shares, Chinese bonds, the Yuan and commodities!
- Interviews with China experts. We find you insights you should never miss!
- Conference calls and events. Nothing is better than talking to newsmakers, experts and reporters directly, right?
Already have an account? Sign In