Chinese yuan weakens against USD after 11-day rise

China Plus Published: 2017-09-14 09:17:55
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

Shanghai time-honored brand launches Disney-themed mooncakes
China imports long-nosed monkey from Indonesia
Environment-themed shared bicycles appear in Guangzhou
Changchun bus driver decorates bus with toys
Sunset creates a "UFO" impression in Guizhou
Teachers and students at Changchun University construct Formula One-like car

News

One killed, four injured in Washington state school shooting
8 died at U.S. nursing home in aftermath of Irma
Qatar launches tourism representative office in China
Oxford launches program on Belt and Road Initiative
Olympic double: IOC says yes to Paris in 2024, LA for 2028
Chinese premier stresses implementation of major policies