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Month: September 2022

China's yuan hovered near record lows against the US dollar on the offshore market on September 29

China’s yuan hovers near record lows against the dollar despite central bank warning

By Laura He, CNN Business China’s yuan hovered near record lows against the US dollar on the offshore market on Thursday, as major currencies around the world continue to tumble after the Federal Reserve’s aggressive hikes. The yuan — also known as the renminbi —has been declining for months despite interventions by China’s central bank.

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