Currency Exchange Rates - Strong US Dollar Impacts Yuan

Whether you're a working stiff or a business owner yourself, this is the place to discuss all aspects of financing your drinking habit ;-)

NO BUSINESS SALES HERE PLEASE, WE HAVE A SECTION FOR THAT IN THE CLASSIFIEDS.
User avatar
CEOCambodiaNews
Expatriate
Posts: 25124
Joined: Sun Oct 12, 2014 5:13 am
Reputation: 969
Location: CEO Newsroom in Phnom Penh, Cambodia
Contact:
Cambodia

Currency Exchange Rates - Strong US Dollar Impacts Yuan

Post by CEOCambodiaNews » Sun Oct 07, 2018 6:32 pm

China’s foreign exchange reserves fall more than expected to US$3 trillion
September figures show sharper than forecast drop as yuan continues to depreciate against the dollar
PUBLISHED : Sunday, 07 October, 2018, 6:26pm
China’s foreign exchange reserves fell more than expected in September to a 14-month low as the yuan weakened further against the dollar amid mounting trade tension with the United States.

Reserves fell US$22.69 billion in September to US$3.09 trillion, the biggest drop since February, compared with a decline of US$8.23 billion in August, central bank data showed on Sunday.

Economists polled by Reuters had expected reserves to drop by US$5 billion to US$3.1 trillion.

The yuan fell for the sixth straight month in September as the dollar remained buoyant, suggesting Beijing may be in no rush to intervene because a weaker currency would support its exporters amid the escalating trade war with the US.

The United States and China imposed fresh tariffs on each other’s goods last month.
https://www.scmp.com/economy/china-econ ... 3-trillion
Cambodia Expats Online: Bringing you breaking news from Cambodia before you read it anywhere else!

Have a story or an anonymous news tip for CEO? Need advertising? CONTACT US

Cambodia Expats Online is the most popular community in the country. JOIN TODAY

Follow CEO on social media:

Facebook
Twitter
YouTube
Google+
Instagram
  • Similar Topics
    Replies
    Views
    Last post

Who is online

Users browsing this forum: Spigzy and 40 guests