No Result
View All Result
Monday, June 30, 2025
MM News
اردو
  • Home
  • Latest News
  • National
  • Showbiz
    File photo

    Post-mortem report of Shefali Jariwala reveals heart attack as cause of death

    JioHotstar has released the teaser for Sarzameen, starring Prithviraj Sukumaran, Kajol, and Ibrahim Ali Khan in a powerful patriotic thriller.

    Is Ibrahim Ali Khan & Kajol’s ‘Sarzameen’ anti-Pakistan?

    Squid Game 3 released on June 27, on Netflix.

    Squid Game Season 3: Stream it or skip it?

    file photo

    Has Alizeh Shah found her ‘Mr. Perfect’? Social media posts spark speculation

    (File Photo)

    Mehwish Hayat calls marriage a gamble, slams gendered expectations in showbiz

    Vicky Kaushal

    What did Vicky Kaushal say about Katrina Kaif’s feedback on his films?

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
MM News
  • Home
  • Latest News
  • National
  • Showbiz
    File photo

    Post-mortem report of Shefali Jariwala reveals heart attack as cause of death

    JioHotstar has released the teaser for Sarzameen, starring Prithviraj Sukumaran, Kajol, and Ibrahim Ali Khan in a powerful patriotic thriller.

    Is Ibrahim Ali Khan & Kajol’s ‘Sarzameen’ anti-Pakistan?

    Squid Game 3 released on June 27, on Netflix.

    Squid Game Season 3: Stream it or skip it?

    file photo

    Has Alizeh Shah found her ‘Mr. Perfect’? Social media posts spark speculation

    (File Photo)

    Mehwish Hayat calls marriage a gamble, slams gendered expectations in showbiz

    Vicky Kaushal

    What did Vicky Kaushal say about Katrina Kaif’s feedback on his films?

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
No Result
View All Result
No Result
View All Result
MM News
اردو
  • Latest
  • Showbiz
  • Thought Box
  • Business & Stock
  • Opinions
  • Technology
  • The Other Side-Pakistan
Home Business & Stock

Chinese yuan jumps two-month high on trade progress

Salima Bhutto by Salima Bhutto
November 13, 2019
BEIJING: Chinese Yuan soars to a two-month high against the dollar, sources said on Monday. The signs of progress are boosted in Sino-US trade negotiations and the hopes to end the long trade war are also raised.
The president of US, Donald Trump devised the deal’s first part to put an end on the trade war with China along with suspending the threatened tariff hike as well. The officials of both countries state that more work needed to maintain this step.
Ken Cheung, chief Asian FX strategist at Mizuho Bank, Hong Kong said that both countries have managed to agree on one trade deal decreasing the stress of investors regarding the risks of full-blown war.
Opened at 7.0827 per dollar, the onshore sports market reached 7.0494 in the morning trade which was strongest since August 2019. The rate was changing during midday at 7.0515, 373 pips which was also stronger than the previous session. According to traders, the gains in the yuan depends mostly on the developments in the trade related negotiations during the next term.
Chinese President Xi Jinping and Trump will be attending the summit of the Asia Pacific Economic Cooperation (APEC) next month, in Chile. US President hinted that there is a chance of signing a written agreement in this regard.
A Chinese bank trader expects the trade of yuan ranges from 7.0 to 7.1 per dollar before the summit in Chile.
Investors are also concerned over whether the central bank would reconsider official yuan midpoint fixing because the two largest economies of the world have also slightly hinted on the currency.
The partial deal pinpoints agriculture, currency along with intellectual property protections. The People’s Bank of China (PBOC) has decided the midpoint rate at $7.0725 which is almost two pips stronger than 7.0727 – last fix.
Today’s fixing is similar to the previous month’s situation that continued to set around $7.0370 and remained slightly firmer as compared to the projections of the market.
Stephen Innes, Asia Pacific market strategist at AxiTrader stated that the guidance rate did not send the clear signals that PBOC will work on the stronger Yuan Policy. He further said, monitoring this week’s and beyond reference, rates are required before making any conclusions.
According to Mizuho’s Cheung, the PBOC aims to maintain yuan’s stability until the next month’s APEC summit before the official currency signing pact.
Tags: ChinadollarDonald TrumpMM groupmm newsmm news tvmm tvUSYuan
ShareTweetSendShare
Previous Post

Jade Pinkett Smith adores her ‘spiritual mother’ Abida Parveen

Next Post

Rescuing Pakistanis jailed abroad

Related Stories

Business & Stock

Finance Bill 2025-26 to come into effect from 12am

June 30, 2025
(File)
Business & Stock

Gold price increases Rs800 per tola

June 30, 2025
(File Photo)
Business & Stock

PSX crosses 125,000 points amid economic optimism

June 30, 2025
Business & Stock

Saudi Riyal to PKR rate today – June 30, 2025

June 30, 2025
Forex rates in Pakistan today
Business & Stock

Forex rates in Pakistan on Monday – June 30, 2025

June 30, 2025
Business & Stock

Pakistan secures $3.4 billion loan extension from China

June 30, 2025
file photo
Business & Stock

Pakistan set to launch train service from Lahore to Russia next month

June 29, 2025
Solar panels installed at a Peshawar park to meet lighting needs. (Image: Dawn.com)
Business & Stock

Latest prices of solar panels in Pakistan – June 2025

June 29, 2025
State Bank
Business & Stock

Pakistan sees significant rise in digital payments: State Bank

June 29, 2025
file photo
Business & Stock

Petroleum consumers to pay Rs2.50 per litre climate levy from July 1st

June 29, 2025
Next Post

Rescuing Pakistanis jailed abroad

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Trending Stories

File photo
Film & TV

Post-mortem report of Shefali Jariwala reveals heart attack as cause of death

by MM News Staff
June 30, 2025
Online/File photo
Prices

Govt end electricity duty from power bills

by MM News Staff
June 30, 2025
File photo
Daily Buzz

Mehr Bano opens up about harassment in the entertainment industry

by MM News Staff
June 30, 2025
File photo
Crime

Swat Tragedy tied to river diversion by land mafia, reveals initial probe

by MM News Staff
June 30, 2025
Photo credit Express News
Uncategorized

US woman travels to Pakistan for her online lover

by MM News Staff
June 30, 2025

Opinion

Munir-Ahmed
Portugal and Pakistan: Building a Bilateral Bridge in a Fractured World
June 29, 2025
- Munir Ahmed
munir ahmed oped
A Peace Prize for Betrayals: Rethinking Pakistan’s Strategic Alliances
June 28, 2025
- Munir Ahmed
munir ahmed oped
“Run Lola Run” – More than a movie to cultural bridging
June 27, 2025
- Munir Ahmed
No posts found
See all

Weather Updates

(File Photo)
Top News

Weather forecast for Karachi today

by MM News Staff
June 30, 2025

The Pakistan Meteorological Department (PMD) has predicted partly cloudy and humid weather for Karachi...

Rain

Monsoon showers hit Karachi, more rain expected in coming hours

June 28, 2025
file photo

Showers continue across Karachi, bringing relief from the heat

June 27, 2025
file photo

Will Karachi receive more rain today?

June 27, 2025
See all

Prices

Online/File photo
Prices

Govt end electricity duty from power bills

by MM News Staff
June 30, 2025

Federal Minister for Energy Awais Leghari has formally requested all provincial governments to eliminate...

LGP prices have been slashed ahead of Ramadan. File photo

LPG prices slashed by Rs7.51 per kilogram for July 2025

June 30, 2025
(File)

Gold price increases Rs800 per tola

June 30, 2025

Rs1.15 per unit cut likely in power tariff

June 30, 2025
See all

Transport News

(APP)
Transport

Rs150 billion approved to make Rawalpindi a ‘signal-free’ city

by MM News Staff
June 29, 2025

The Punjab government has approved a record-breaking development package worth Rs.150.0 billion for Rawalpindi...

file photo

Pakistan set to launch train service from Lahore to Russia next month

June 29, 2025
Maryam Nawaz

Maryam Nawaz orders 240 electric buses for South Punjab districts

June 28, 2025

Two planes avoid major accidents following bird strikes at Karachi airport

June 27, 2025
See all

MM Digital (Pvt.) Ltd.

MM News is a subsidiary of the MM Group of Companies. It was established in 2019 with the aim of providing people of Pakistan access to unbiased information. Contact Details: 03200201537

Quick Links

  • Home
  • Advertise
  • MM News Urdu
  • The Other Side-Pakistan
  • Contact Us
  • Privacy Policy

Top Pages

  • Latest News
  • Showbiz
  • OP-ED
  • Technology
No Result
View All Result
  • Latest News
  • Showbiz
  • Thought Box
  • Business
  • Opinions
  • Technology

© Copyright 2024 MMNews - All Rights Reserved.