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
China moves to support yuan as stock markets tumble
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
