Offshore CNH weakest since March 2011

FXStreet (Mumbai) - The offshore CNH exchange rate, fell 0.68% on Thursday and extended the drop by another 0.05% in early Friday trading, to 6.5719 per dollar, its weakest since March 2011.

The People’s Bank of China announced a weaker fix for the tenth consecutive day today.

The onshore exchange rate dropped 0.17% on Thursday at 6.4837 per dollar, its weakest since July 2011. The currency has now been allowed to depreciate for seven consecutive weeks. Last Friday, the PBOC said its comfortable with a depreciating currency and added that it would prefer to gauge the renminbi’s value against a basket of currencies rather than just the US dollar.

Dec 18, 2015

Gold stages a modest recovery from near 5-yr low

Gold prices breathe a sigh of relief in Asia and extend beyond 1050 barrier, after having threatened almost the lowest levels since Fed 2010 in the last US session.

ECB’s Nowotny sees a “steady-hand policy” while analysing impact of Fed decision

The European Central Bank (ECB) Governing Council member Ewald Nowotny was on the wires earlier on the day and delivered some unexpected comments, noting that the Fed’s decision wasn’t surprising and formed part of the ECB’s expectations at its most recent meeting, when it decided to extend its quantitative easing program.