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Onshore yuan trades at its weakest against dollar since November last year

  • The PBOC is nervous about a run on the yuan as it lowers its 5 year rate
Eamonn Sheridan
20/02/2024 | 01:46 GMT

In the wake of the Chinese rate cut onshore yuan is falling. Its hit its lowest (highest for USD/CNY) since November 20 2023:

  • PBOC Rate CUT ___ (LPR): 1-year 3.45% (prior 3.45%) 5-year 3.95% (prior 4.20%)
  • China's largest ever cut to its benchmark reference rate for mortgages
usdcny china lpr rate cut 20 February 2024 2

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  • CNY
  • China Stock Market
  • China
  • CNH
  • pboc
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