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China Lets Yuan Weaken Past Key Level in Potential Exports Boost

Mint Chennai

|

April 09, 2025

China eased its tight grip on the yuan by weakening its daily reference rate past the keenly-watched 7.20 per dollar level amid the dramatically escalating trade war with the U.S.

- Bloomberg

The People's Bank of China (PBOC) set the so-called fixing at 7.2038 per dollar on Tuesday, the weakest since September 2023. It's the first time since President Donald Trump's November election that the fixing breached 7.20, a level seen by investors as a soft-red line for official intentions toward the managed currency.

The move triggered depreciation in the spot yuan despite a moderate improvement in risk sentiment in the stock market. The onshore yuan slid to the weakest level since September 2023, while the offshore currency hit a two-month low.

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Reliance brings in Carrefour exec to boost grocery play

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Lenovo India Q2 revenue jumps 23%

Integrated IT solutions provider Lenovo's India arm on Thursday reported a 23% year-on-year increase in revenue at $1.2 billion in the September quarter, aided by strong demand fuelled by digitisation, premiumisation and improved consumer sentiment following goods and services tax (GST) rejig.

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Street scales 13-month high as index heavyweights fire

November, showed NSDL data. As of Thursday, FPIs' cumulative net short index futures stood at 165,565 contracts. Covering a part of these can also take the Nifty and Sensex to new highs.

time to read

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