ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

China sets yuan midpoint at new 11-1/2-year low

Central bank sets a firmer rate than traders had expected

SHANGHAI (Reuters) -- China's central bank lowered its official yuan midpoint to a fresh 11-1/2-year low on Tuesday, but at a firmer setting than traders had expected.

The People's Bank of China (PBOC) set the midpoint rate at 7.0810 per dollar prior to market open, 240 pips or 0.34% weaker than the previous fix of 7.0570 and the weakest since March 18, 2008.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more