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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Trade war hits Chinese yuan - 11-year low

    Rocky
    Rocky
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    • Post n°1

    Trade war hits Chinese yuan - 11-year low Empty Trade war hits Chinese yuan - 11-year low

    Post by Rocky Mon 26 Aug 2019, 1:56 am

    [size=36]Trade war hits Chinese yuan - 11-year low[/size]

    Economy | 09:26 - 26/08/2019

    Trade war hits Chinese yuan - 11-year low 62682019_1-1216717


    Follow - up to the balance of News   
    Record Chinese yuan on Monday, declining to its lowest level against the US dollar in nearly 11 years, the center of war - related business , which also threatens to obtaining a global recession fears, which weighed on financial markets. 
    The yuan has fallen to 7.14 against the dollar, the lowest since the beginning of 2008 in Asian trading. 
    Global economic tensions have intensified in recent days as the United States and China raise tariffs on each other's goods, and President Donald Trump calls on US companies to withdraw from China. 
    China restricts the conversion of the yuan, which cannot be freely exchanged. The government limits its volatility against the dollar within a 2 percent margin up or down from the benchmark rate set by the central bank every day.
    In recent weeks, the People's Bank of China has been steadily depreciating the yuan, setting it at 7.057 against the dollar. 
    Allowing the yuan to depreciate makes Chinese exports cheaper and offsets some of the burden of US punitive duties. 
    The yuan crossed the minimum threshold of 7.0 against the dollar earlier in August, days after the United States announced plans to impose new tariffs on Chinese goods from September 1. 
    The drop from Washington's 7.0 threshold prompted Beijing to accuse Beijing of "currency manipulation," but the Chinese central bank "firmly opposed" the designation.


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    Rocky
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    Posts : 282004
    Join date : 2012-12-21
    • Post n°2

    Trade war hits Chinese yuan - 11-year low Empty Trade war hits Chinese yuan - 11-year low

    Post by Rocky Mon 26 Aug 2019, 2:14 am

    [rtl]

    Trade war hits Chinese yuan - 11-year low

    [/rtl]
    [rtl]Release date:: 2019/8/26 8:29 • 62 times read[/rtl]
    Trade war hits Chinese yuan - 11-year low Story_img_5d636e3feecac
    [rtl]
    BEIJING (Reuters) - The Chinese yuan hit a fresh 11-year low against the US dollar on Monday amid concerns over a trade war that is also threatening a global recession, weighing on financial markets.
    The yuan has fallen to 7.14 against the dollar, the lowest since the beginning of 2008 in Asian trading. 
    Global economic tensions have intensified in recent days as the United States and China raise tariffs on each other's goods, and President Donald Trump calls on US companies to withdraw from China. 
    China restricts the conversion of the yuan, which cannot be freely exchanged. The government limits its volatility against the dollar within a 2 percent margin up or down from the benchmark rate set by the central bank every day. 
    In recent weeks, the People's Bank of China has been steadily depreciating the yuan, setting it at 7.057 against the dollar. 
    Allowing the yuan to depreciate makes Chinese exports cheaper and offsets some of the burden of US punitive duties.
    The yuan crossed the minimum threshold of 7.0 against the dollar earlier in August, days after the United States announced plans to impose new tariffs on Chinese goods from September 1. 
    The drop from the 7.0 threshold prompted Washington to accuse Beijing of "currency manipulation", but the Chinese central bank "firmly opposed" the designation.


    http://alforatnews.com/modules/news/article.php?storyid=208720
    [/rtl]
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