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back to index backASIAtalk November,  2016


China struggles to steady RMB decline

China is facing an uphill battle to maintain an orderly depreciation of the yuan as investors pile up bearish bets against the currency outside the mainland. The gap between the yuan's value against the dollar in the domestic market and in what is known as the offshore market in Hong Kong, has been widening in recent days. On Wednesday, this so-called spread reached 0.0333, its widest since the beginning of October (apart from the day after the US election). The widening gap now is complicating the central bank's strategy of letting some air out of the currency at a pace Beijing dictates, according to The Wall Street Journal. The two yuan markets at home and in Hong Kong often feed off each other.

Source: China Economic Review - GAI





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