Chinese yuan weakens against USD after 11-day rise

China Plus Published: 2017-09-14 09:17:57
Comment
Share
Share this with Close
Messenger Messenger Pinterest LinkedIn

The central parity rate of the Chinese currency weakened against the U.S. dollar two days in a row after a relaxation of controls on capital outflows, ending a record 11-day rise.

China is pursuing a prudent and neutral monetary policy in 2017, applying a full range of policy instruments to maintain basic stability and liquidity, and hold interest rates at an appropriate level.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2% from the central parity rate each trading day.

The dollar index, which tracks the greenback against a basket of six major currencies, was nearly two-thirds of a percent higher on Tuesday.

For more on this, the Beijing Hour's Shane Bigham spoke earlier with Cao Can, CRI's financial analyst.

Related stories

Share this story on

Most Popular

Photo

Highlights of WTA Wuhan Open singles 2nd round
Yellow Mountain bathed in a sea of clouds
Man rents shipping container, turns it into elegant apartment
Chinese vice premier watches 'hoops' in NYC
Li Na tastes local delicacy during WTA Wuhan Open
Giant tuna captured in South China Sea

News

A technology-oriented day trip in Hefei
Technology, art, culture collide in Hefei
China's self-built icebreaker "Xuelong 2" to complete in 2019
New air route linking Wuhan, Manila opens
UK's first bilingual Mandarin nursery school expands
Kissinger calls for cooperative U.S.-China relationship