6
Friday
December 2019
7:35 PM IST
News Headlines
Mumbai, Kerala play out 1-1 draw in Hero ISL        Have some thoughts for T20 World Cup, will discuss with Kohli and Shastri: Ganguly        RBI keep repo rate unchanged        Saudi Aramco raises USD 25.6 bn in largest-ever IPO        Iran informs UN about determination to continue Ballistic Missile Program        Next Hearings in Trump Impeachment Process Scheduled on Monday - House Judiciary Committee        Burundi: 38 killed in landslide in Cibitoke        Naidu condemns attack on Unnao rape survivor        1984 riots: Javadekar slams Manmohan Singh, says if Rao was so bad, why did you become FM under him?        The Taxation Laws (Amendment) Bill 2019 returned to Lok Sabha        Govt clueless on how to tackle economic slowdown, FM statement on onion shows their mindset: Chidambaram        Rajya Sabha passes bill to amend SPG Act, Shah rejects charge of political vendetta, Cong stages walkout        Kerala shocked by plight of poor mother, six children        Rupee ends steady ahead of RBI policy outcome        HC asks Ker govt to take control of Church        Not difficult working with Sena compared to BJP: Pawar        India conducts fresh night trial of Prithvi-2 missile        Three directors of PMC Bank arrested        Quinta Brunson to star in HBO Max's single-camera comedy        David Kerr to helm 'Joy To The World'        
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International News
China further weakens yuan rate as currency row simmers
 
Shanghai: China's currency weakened further against the dollar as the central bank lowered the yuan's daily reference rate again amid a deepening currency row between Beijing and Washington.

The People's Bank of China on Wednesday fixed the yuan's central parity rate at 6.9996 per US dollar, weaker than the level set on Tuesday, when it hit an 11-year low.

Both the onshore and offshore yuan slid in late morning trading on Wednesday reaching 7.0454 and 7.0796, respectively.

The yuan breached the key 7.0 threshold against the dollar on Monday -- days after the US announced plans to impose fresh tariffs on Chinese imports from September 1 -- prompting Washington to officially brand Beijing a "currency manipulator".

China's central bank said Tuesday it is "resolutely opposed" to such a label, and the bank's governor Yi Gang has long vowed it would not engage in a competitive devaluation.

Allowing the yuan to depreciate makes Chinese exports cheaper and offsets some of the burden of punitive US tariffs, which could soon see virtually all of the roughly 660 billion in goods traded annually between the world's top two economies subject to duties.

The yuan is not freely convertible and the Chinese government limits its movement against the US dollar to a two percent range on either side of a central parity rate that the central bank sets each day to reflect market trends and control volatility.

That managed float system limits volatility: the currency has remained confined between 6.1 and 7.1 yuan to the dollar for the last five years.


Iran informs UN about determination to continue Ballistic Missile Program
Next Hearings in Trump Impeachment Process Scheduled on Monday - House Judiciary Committee
Burundi: 38 killed in landslide in Cibitoke
Putin signs off law to label journalists as foreign agents
US urges Iraq to probe 'abhorrent' killings of protesters
Trump campaign bars Bloomberg News, alleging 'bias'
UN chief urges countries not to surrender on climate fight
Hundreds rally in Myanmar to show support for Suu Kyi
Nearly 200 countries attend ambitious climate talks
Iraq parliament approves PM resignation, protesters mourn dead
At least 11 people Injured in shooting in New Orleans - Police
Suriname president sentenced to 20 yrs imprisonment
Leonardo DiCaprio paid to torch Amazon, claims Brazil President Bolsonaro
Japan ex-PM Nakasone who boosted ties with US dies at 101
Iraq PM says will resign after bloody protests
London Bridge attack declared terrorist incident, suspect with hoax bomb vest shot dead by police
China summons US envoy, asks Washington not to implement Hong Kong bill
Pak SC grants 6-month conditional extension to Army chief Gen Bajwa
Former Maldives leader jailed for money laundering
Israeli aircraft hit Hamas site after rocket fire from Gaza
ENTERTAINMENT NEWS
Quinta Brunson to star in HBO Max's single-camera comedy
 Los Angeles: Actor-comedienne Qunita Brunson is set to play the lead role in a untitled single-camer  
David Kerr to helm 'Joy To The World'
Questlove to make directorial debut with 'Black Woodstock'
Taapsee Pannu to feature in Mithali Raj biopic
KERALA NEWS
Kerala shocked by plight of poor mother, six children
 Thiruvananthapuram: This hapless mother was unable to find food to fill the little stomach of her ch
Kerala: Youth hurled down by Policeman during vehicle checking, seriously injured
Kerala High Court takes suo moto case against lawyers protested against magistrate
School girl killed of snakebite: Separate demonstrations by YC, SFI turns violent, police resorts to lathicharge
NATIONAL NEWS
Naidu condemns attack on Unnao rape survivor
 New Delhi: Rajya Sabha chairman and Vice-President Venkaiah Naidu condemned the incident in which a
1984 riots: Javadekar slams Manmohan Singh, says if Rao was so bad, why did you become FM under him?
The Taxation Laws (Amendment) Bill 2019 returned to Lok Sabha
India conducts fresh night trial of Prithvi-2 missile
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