China Gets Its Wish as Offshore and Onshore Yuan Now Near Parity

  • Ratio between them had been at record high before intervention
  • Mainland price hasn't been so close to counterpart in months

A man looks at a Chinese one-hundred yuan banknote in front of a currency exchange store in Macau, China.

Photographer: David Paul Morris/Bloomberg

China’s intervention in the currency market this week has all but closed the gap between the yuan trading in Hong Kong and mainland.

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