China's yuan weakens to over 3-month lows, hurt by stock selloffs

  • 7/27/2021
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SHANGHAI, July 27 (Reuters) - China’s onshore and offshore yuan gave up intraday gains on Tuesday afternoon and eased to their lowest levels in more than three months, as sentiment soured after a sharp selloff in the country’s equity markets. The onshore spot yuan weakened to a low of 6.5133 per dollar in afternoon trade, the weakest level since April 19, and was down 0.46% on the day. Its offshore counterpart hit a low of 6.5225, the softest since April 19. Chinese blue-chips and Hong Kong’s benchmark share index fell to fresh lows for the year on Tuesday on persistent worries about the impact of tighter government regulation, while a surge in COVID-19 cases dealt a further blow to sentiment. (Reporting by Winni Zhou and Andrew Galbraith Editing by Peter Graff) Our Standards: The Thomson Reuters Trust Principles.

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