China’s yuan dipped briefly to a 16-year low against the dollar on Thursday, raising questions about whether Beijing might weaken its currency to help struggling exporters and reverse a deepening economic slump.

The Chinese currency slid to CN¥7.32 to the dollar before recovering to CN¥7.26, following what financial analysts said appeared to be buying by Chinese banks to support the currency. That made one yuan worth about 13.8 US cents.

https://jamaica-gleaner.com/article/business/20230818/chinese-yuan-falls-against-dollar-raising-questions-about-weaker-currency