Chinese yuan dropped on Tuesday despite the PBOC\u2019s injection of $74 billion into the country\u2019s banking system the day before in a bid to strengthen the currency.<\/p>\n
Separately, China\u2019s foreign ministry spokesman Geng Shuang said the country is not looking to boost its exports through\u00a0<\/span>devaluing the yuan<\/a><\/span>. \u201cThe yuan’s exchange rate is mainly determined by market supply and demand. It floats in both ways, which means there are ups and downs,\u201d Geng said.<\/p>\n His comments came after U.S. President Donald Trump\u2019s brickbats last Friday in a tweet, slamming China and the EU on deliberately controlling their currencies.<\/p>\n The Chinese yuan depreciated against the U.S. dollar as the\u00a0<\/span>USD\/CNY<\/a><\/span>\u00a0<\/span>pair saw an increase of 0.36% to 6.8177 on Monday.<\/p>\n","protected":false},"excerpt":{"rendered":" Chinese yuan dropped on Tuesday despite the PBOC\u2019s injection of $74 billion into the country\u2019s banking system the day before in a bid to strengthen the currency. Separately, China\u2019s foreign ministry spokesman Geng Shuang said the country is not looking to boost its exports through\u00a0devaluing the yuan. \u201cThe yuan’s exchange Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[9,10,1],"tags":[],"class_list":["post-870","post","type-post","status-publish","format-standard","hentry","category-homepage","category-latest-news","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/870","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/comments?post=870"}],"version-history":[{"count":1,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/870\/revisions"}],"predecessor-version":[{"id":871,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/870\/revisions\/871"}],"wp:attachment":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/media?parent=870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/categories?post=870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/tags?post=870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}