Reuters exclusively reported that China’s major state-owned banks moved to support the yuan on Monday, tightening liquidity in the offshore foreign exchange market while actively selling U.S. dollars onshore as equities slid.
Economy
22 January 2024, 2:23 am 1 minute
Market Impact
The onshore yuan last traded at 7.1963 per dollar, down nearly 1.4% so far this year, while its offshore counterpart last fetched 7.2047.
Article Tags
Topics of Interest: Economy
Type: Reuters Best
Sectors: Economy & Policy
Regions: Asia
Countries: China
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
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