Yuan hits strongest in 2-1/2 weeks after central bank mortgage measures

Yuan hits strongest in 2-1/2 weeks after central bank mortgage measures

Yuan hits strongest in 2-1/2 weeks after central bank mortgage measuresWORLDMiddle EastAfricaIndian Sub-continentChina and Asia Pacific UK and EuropeAmericasRussiaECONOMYGlobalGCCAfricaLevantNorth AfricaISLAMIC ECONOMYIslamic FinanceIslamic BusinessIslamic Finance ReportsIslamic Finance GlossaryBUSINESSAviationBanking & InsuranceCareersEducationEnergyFintechHealthcareHospitalityManufacturingReal EstateRetail & ConsumerTechnology and TelecomTransport and LogisticsTravel and TourismSMEsFinance MarketingTechnologyLegalPeopleMARKETSCommoditiesCurrenciesEquitiesFixed IncomeWEALTHAlternative InvestmentsFundsWealth ManagementSustainabilityLEGALCrime and SecurityImmigrationPolicy RegulationsLIFECultureEntertainmentFoodHealthLeisure & TravelSportsOPINIONBusiness InsightsPROJECTSBRIConstructionIndustryMiningOil & GasUtilitiesSPECIAL COVERAGERamadan and Eid 2023COP 28: Talking Climate in UAEUAE Realty MarketThe Future of CryptosFocus: Global Wealth FundsRussia-Ukraine CrisisMULTIMEDIAGalleriesVideosPRESS RELEASE Companies NewsGovernment NewsPeople in the NewsResearch & StudiesEvents and ConferencesAfrica Press ReleasesAsia Press ReleasesHome page>MARKETS>Currencies>Yuan hits strongest in 2...PHOTOLONDON - China's yuan strengthened to its firmest in 2-1/2 weeks against the dollar on Thursday after the central bank took measures to support the embattled property sector.The People's Bank of China said it would allow existing mortgage rates to be lowered from Sept. 25. The dollar dropped as much as 0.4% against the onshore yuan to 7.2485 after the announcement, its lowest level since Aug. 14.In the offshore market, the yuan was at 7.2755 per dollar.(Reporting by Samuel Indyk, editing by Alun John)Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites,