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Chinese Yuan At Record Lows

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Chinese Yuan At Record Lows

Benzinga

1,184 Views • Sep 29, 2022

Description

China’s yuan traded at record lows against the U.S. dollar on Thursday. Since the Federal Reserve, the U.S.’s central bank, raised interest rates earlier this month, the dollar's value has risen against other currencies. The offshore yuan, which trades overseas, traded at 7.189 per dollar on Thursday, and the onshore yuan, which trades in the tightly controlled domestic market, traded at 7.195 per dollar. China's domestic currency also reached its weakest point since the 2008 global financial crisis.

Keywords & Tags

#china #inflation #economics #business #Federal Reserve #interest rates #GDP #FED #bear market #financial crisis #government #U.S. Dollar #slowdown #yuan #forex #Currencies #Record Lows #rate hike #U.S.’s central bank #raised interest rates #offshore yuan #onshore yuan #domestic market #domestic currency #FX

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