China's yuan is not the only currency struggling in the face of the strong dollar with Japan’s yen and South Korea’s won also under pressure

The Bank of Japan conducted a rate check on Wednesday, in possible preparation for currency intervention, Nikkei reported. The yen has falled around 20% so far this year.

Tokyo must be prepared to step in to tackle 'excessive, one-sided' yen moves, the government’s deputy chief cabinet secretary said

The slide in Japan's currency has begun to spook big investors, and some are cutting bets that it will decline further, expecting that the government could step in to try and stop the fall.

Japan is to spend $24bn on support measures as inflation soars in the world’s No3 economy, while the yen’s plunge also has Tokyo worried

Move to cut the amount of foreign exchange reserves that financial institutions must hold is seen as aimed at slowing the depreciation of the yuan

The US dollar hit a 24-year high of 139.69 after gaining about 0.5% against the Japanese yen on Thursday, as investors brace for more US rates hikes.

The yuan has lost 2.5% against the dollar this month and is on course for its biggest monthly drop since April when Covid lockdowns were imposed in Shanghai and other cities

The yuan rebounded Thursday from a two-year low against the dollar after a firmer-than-expected setting and news forex regulators phoned banks to get them to ease dollar buying

The plan being discussed by the two nations would enable the use of Russia's Mir cards at India ATMs and Point of Sale terminals, and India's RuyPay cards in Russia, said the report.

The onshore yuan opened at 6.82 per dollar and touched a low of 6.8308, the weakest level since Sept 2020, while its offshore counterpart fell to a near two-year low of 6.852

The onshore yuan dropped 0.47% to 6.7950 per dollar on Tuesday, its lowest since May 16, on concern about its recovery from recent Covid lockdowns.