Yuan drops to this year’s low – Kommersant
[ad_1]
The Chinese yuan fell to its lowest level since the beginning of the year amid a decline in the country’s economic performance. Today, August 14, the yuan fell 0.3% to 7.2816 per dollar. The last low was set in June at 7.2857. For the year as a whole, the Chinese currency fell by about 5%, which was the worst performance in Asia after the yen and the South Korean won, notes Bloomberg. The exchange rate of the ruble against the yuan is declining. Now on the Moscow Exchange, June costs 13.8 rubles.
According to the agency, Chinese stocks are also declining. In particular, the CSI 300 fell 1.8%. The yield on China’s 10-year bond slipped one basis point to 2.62%, approaching this year’s low of 2.59%.
In July, China’s exports fell by 14.5% yoy to $281.8 billion, after a 12.4% decline in June. Imports also accelerated the fall, falling 12.4% to $201.2 billion, after falling 6.8% in June. As a result, the country’s trade surplus shrank by 20.4% to $80.6 billion. The data indicate not only weakening external demand, but also increased pressure on domestic demand.
Details – in the material “Kommersant” “China is losing imports following exports”.
[ad_2]
Source link
