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1-min read

China Central Bank 'Resolutely Opposed' to US Currency Manipulator Label

The Chinese currency steadied on Tuesday, a day after Beijing let the yuan plunge below the key 7.0 per dollar threshold.

AFP

Updated:August 6, 2019, 1:12 PM IST
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China Central Bank 'Resolutely Opposed' to US Currency Manipulator Label
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Beijing: China's central bank said Tuesday it is "resolutely opposed" to the US labeling Beijing a currency manipulator as trade tensions surge between the world's two biggest economies.

"The US side disregarded the facts and unreasonably labelled China a 'currency manipulator'," the central bank said in a statement.

"The Chinese side is resolutely opposed to this," the bank said.

The Chinese currency steadied on Tuesday, a day after Beijing let the yuan plunge below the key 7.0 per dollar threshold.

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