China`s offshore yuan falls to nine-month low vs dollar

  07 October 2016    Read: 747
China`s offshore yuan falls to nine-month low vs dollar
China`s offshore yuan fell to nine-month lows against the U.S. dollar early on Friday as the greenback strengthened further overnight.
The yuan touched 6.7182 per dollar, its lowest since Jan. 7.

It has depreciated around 0.6 percent so far this week. The spread between onshore and offshore yuan spot rates has widened to more than 400 pips.

China`s onshore markets are closed for the long National Day holiday from Oct. 1-9.

The U.S. dollar gained on Thursday against a basket of currencies, hitting its highest level in more than two months, as strong labour market data gave support to a possible U.S. interest rate hike later this year.

More about:


News Line