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Chinese yuan weakens against US dollar

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7 years ago

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Chinese yuan weakens against USD

Beijing:  The Chinese yuan on Friday weakened against the US dollar, which was pushed up by American President Donald Trump’s tax cut plan. The central parity rate of the yuan stood at 6.8819 against the US dollar, weakening from 6.871 on Thursday, according to the China Foreign Exchange Trade System. The White House said Trump plans to unveil comprehensive tax reforms in the next few weeks to lower the overall tax burden, which boosted US stock prices and sent the dollar higher against a basket of currencies, Xinhua news agency reported. US jobless claims fell to near a 43-year low and wholesale inventories surged for a second straight month, suggesting improved confidence in the economy. Despite slipping against the dollar, the yuan’s exchange rates too many other major currencies strengthened, including the euro, Japanese yen, British pound, Australian dollar and Swiss franc.

Analysts believe the yuan is seeing less depreciation pressure and will likely remain generally stable in the short term due to lingering uncertainties on the US dollar and policies from the Trump administration. China’s central bank has raised lending costs for major banks and, for several days, suspended injecting liquidity into the money market, moves expected to further ease pressure on the yuan and foreign exchange reserves. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 per cent from the central parity rate each trading day. The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

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Apple is giving a huge discount on its gadgets: Details inside

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2 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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