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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » China’s yuan hits weakest in more than 5 yrs -Directly benefited to SL on Loan Installment

China’s yuan hits weakest in more than 5 yrs -Directly benefited to SL on Loan Installment

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Vacations To Sri Lanka

Vacations To Sri Lanka
Manager - Equity Analytics
Manager - Equity Analytics

Good For Sri Lnakan Economy

http://www.lankabusinessonline.com/chinas-yuan-hits-weakest-in-more-than-5-yrs-after-pboc-fix-msci-disappointment/


SHANGHAI, June 15 (Reuters) – China’s yuan slumped to its weakest level in more than five years against the dollar at Wednesday’s open, after the central bank set its official midpoint at its lowest level since January 2011.
The yuan hit an intraday low of 6.6047 per dollar in early trade against Tuesday’s close of 6.5966.
China’s central bank on Wednesday set its yuan/dollar midpoint rate at 6.6001 prior to the market opening after the yuan had tumbled in late Tuesday trading.
U.S. index provider MSCI Inc on Tuesday declined to add domestic Chinese stocks to one of its key benchmarks, concluding that Beijing had more work to do in liberalizing capital markets and delivering a blow to Chinese policymakers hoping to broaden the appeal of their currency.
Wednesday’s midpoint weakened 0.32 percent from the previous day’s fix of 6.5791 per dollar, but wasn’t far off the overnight spot yuan close at 6.5966, which had partially factored in the MSCI decision.

VALUEPICK

VALUEPICK
Expert
Expert

I found that you are thinking out of the box and giving us some valuable ideas. In market like today, it is wise to think like this and identify some great opportunities.
Even Brexit will create opportunities. I doubt there will be Brexit. It could end up as similar to Scottish referendum. But still it is too early to think about that.

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