China Defends Yuan with Record $8.2 Billion Bill Issue in Hong Kong

The People’s Bank of China (PBOC) announced plans to issue a record 60 billion yuan ($8.2 billion) in offshore bills in Hong Kong. This move aims to support the weakening yuan, which recently hit a 16-month low against the US dollar. The central bank will auction the six-month bills on January 15, 2025, for settlement […]