18
Sunday
August 2019
7:00 AM IST
News Headlines
Deepa Malik joins Bajrang for Khel Ratna, cricketer Jadeja among 19 for Arjuna        Mary Kom recuses herself from Saturday's sports award meeting        Trump says Apple will spend 'vast sums' in US        Coffee Day Enterprises says debt to fall to Rs 1,000 cr post sale of Bengaluru tech park        Modi arrives in Bhutan on two-day visit        Hong Kong protest tensions heat up in Australia        Separatists vacate key offices in Yemen's Aden: Minister        Fire at AIIMS, 22 fire tenders rushed        Soldier killed in Pak firing along LoC in J-K's Rajouri        Jaitley on life support; Nitish, Piyush Goyal and others visit AIIMS        Ravi Shastri reappointed head coach of Indian team till 2021        Archer strikes as Australia slump to 80-4 in second Ashes Test        Hong Kong protests: Trump urges Xi to meet pro-democracy demonstrators        Myanmar, Bangladesh schedule Rohingya repatriation        2 Israelis, Palestinian assailant hurt in West Bank car ramming: army        Sensex, Nifty edge higher on stimulus talks; post weekly loss        Over 3,000 temporary jobs cut due to slowdown: Maruti Suzuki        Airtel shareholders approve waiver in recovery of excess pay to Mittal        Kashmir remains shut for 12th consecutive day        We would like to give little time: SC on plea seeking removal of restrictions on media in J-K        
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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.


Modi arrives in Bhutan on two-day visit
Hong Kong protest tensions heat up in Australia
Separatists vacate key offices in Yemen's Aden: Minister
Hong Kong protests: Trump urges Xi to meet pro-democracy demonstrators
Myanmar, Bangladesh schedule Rohingya repatriation
2 Israelis, Palestinian assailant hurt in West Bank car ramming: army
J&K: Pak Prime Minister Khan alleges Modi has played his final card
Indian student in US jailed for intentionally damaging 66 college computers
Blockade, beating, pepper spray on second day of Hong Kong airport chaos
Trump Threatens to Pull US Out of World Trade Organization
Britain to release Iranian oil tanker soon: Report
Iran warns against Israeli presence in Gulf
Latest round of US-Taliban talks finishes
Fire at US day care center kills 5 children
Rajapaksa names younger brother for Lanka presidency
Typhoon Lekima death toll in eastern China rises to 32
13 killed, 16 missing as Typhoon Lekima hits China
Maryam Nawaz remanded in custody of Pak''s anti-graft body till August 21
Indian-origin doctor couple, daughter killed in small plane crash in US
Pro-India banners due to ''error'' by designers, poor ''language'' of activists: Pak official
ENTERTAINMENT NEWS
It's challenging to reinvent constantly: Kriti Kharbanda
 Mumbai: Kriti Kharbanda was already an established star in south film industry when she decided to m  
Kirti Kulhari to play cop in 'The Girl on the Train'
Aaliyah to be honoured with wax statue at Madame Tussauds Las Vegas
'Wicked women' are just women who are tired of injustice, abuse: Angelina Jolie
KERALA NEWS
Flood in Kerala: CM conducts aerial survey
 Kochi: Kerala Chief Minister Pinarayi Vijayan along with his ministers and government officials carr
Kerala rains: Toll climbs to 88, 40 still missing
Red Alert in Alappuzha, Ernakulam and Idukki
Singer Biju Narayanan's wife passes away
NATIONAL NEWS
Fire at AIIMS, 22 fire tenders rushed
 New Delhi: A fire broke out at the AIIMS here on Saturday evening and 22 fire tenders were rushed to
Soldier killed in Pak firing along LoC in J-K's Rajouri
Kashmir remains shut for 12th consecutive day
We would like to give little time: SC on plea seeking removal of restrictions on media in J-K
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