China has kept the renminbi’s exchange rate with the dollar steady in its first official currency fix since US President Donald Trump hit the country with tariffs.
The People’s Bank of China on Wednesday set the rate at Rmb7.169 a dollar, close to the level before a more than week-long lunar new year holiday.
During the market closure, Trump announced an extra 10 per cent tariff on Chinese exports, and Beijing retaliated with duties on US energy exports and other goods due to come into effect next week.
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