The Chinese yuan fell to a more than two-week low on Monday as protests in China against Beijing's zero-Covid policies caused investors to back the US dollar.

Central bank approves the opening of nine 'Vostro accounts' with local and Russian banks to facilitate trade in rupees, a top Commerce official said

The yuan jumped in Asian afternoon trade after China ordered health authorities to ease some of Covid rules and US inflation data suggested that Fed rate hikes could start to slow

Latest rate hike by the US Fed forced the PBOC set a midpoint rate of 7.2472 per dollar, 275 pips or 0.28% weaker than the previous fix, and the softest since January 2008

Chinese leader promises to help its troubled neighbour, but calls for progress on the bilateral economic corridor and Gwadar port

Tokyo spent up to 6.4 trillion yen over two consecutive trading days of unannounced interventions, its finance ministry revealed on Monday

The Japanese government said on Friday it will create an extra budget worth $200.8 billion to fund a package to help households and businesses cope with rising living costs.

Imports totalled $89.66 billion in the first nine months of this year as India purchased more Chinese machinery and intermediate goods, the Hindu said

The onshore yuan finished the domestic session at 7.1825 per dollar, the strongest since October 12, while its offshore counterpart traded at 7.2151 at around 0830 GMT.

Over the past week Japanese officials have spent close to $62 billion propping up the yen against the soaring dollar

China's onshore yuan dropped to a near 15-year low on Tuesday after global investors dumped Chinese stocks and assets on Monday

The dollar weathered more suspected intervention to stabilise the yen on Monday, and even though officials are spending billions to defend the currency the BoJ is tipped to stick with its low rate policy