Yuan's quiet sell-off seen helping grow exports beyond US
A bank employee in Thailand counts yuan notes. The yuan has weakened against Southeast Asian currencies while remaining steady against the dollar. © Reuters
TOSHIHIRO SATO
TOKYO --The yuan has weakened against a wide range of global currencies, except the dollar, in a sign that Beijing may be trying to boost its export competitiveness with trade partners other than the U.S.
The China Foreign Exchange Trade System's yuan index, administered by the People's Bank of China, dropped to 95.49 on June 13, the lowest level since December 2020. As of Friday, it had recovered only to 95.92.
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