Yuan holds days gains, but down by 1pc for week

Friday, May 10, 2019

China’s currency held on to gains after the U.S. imposed additional tariffs on goods. The yuan was up by 0.2 percent to 6.8130 per US dollar at 12:36 p.m. local time, paring a weekly decline, Bloomberg reports.

Futures on the FTSE China A50 Index in Singapore paired gains to 1.2 percent.

Even after Friday’s gains, the yuan is down by more than 1 percent this week, with the offshore exchange rate the worst performer in Asia, while the Shanghai equity benchmark has lost 6 percent.