China's yuan holds steady against USD

By Reuters

Jul 09, 2024 12:12 am

SHANGHAI — China's yuan held steady against the dollar on Monday as the central bank's latest move to take more control over interest rates blunted corporate demand for foreign exchange.

China's central bank said on Monday it would start conducting temporary bond repurchase agreements or reverse repos, a move seen by market participants and traders as to give the bank more leeway to manage cash conditions and interest rates amid hot demand for bonds.

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