China's currency depreciates against the dollar at the bottom of ten years

(PTI) London, Ta. August 5, 2019, Monday

Amid the ongoing trade war between the United States and China, the global stock markets were tightening, with the US again threatening to increase import duty on Chinese goods. Chinese currency yuan, on the other hand, saw a significant decline.

European stock markets saw a two percent decline in the opening hours of trading. On the other hand, Hong Kong's stock markets saw a three percent decline due to protesters running in support of independence in Hong Kong. Experts say European stock markets have declined today due to rising tensions between the US and China. Given the current situation, the trade war between the United States and China seems to be going on for a long time.

It is worth mentioning that last week, Trump threatened to impose an additional ten percent duty on China's $ 1 billion items from September 1. In response, China also threatened to increase duty on US goods.

Chinese currency yuan fell to the lowest level since August 1. There is speculation in the Chinese market that it will allow its currency to go down further to help exporters.

The US has accused China's central bank of deliberately weakening the yuan. In China, the value of a dollar in China on Monday rose to 5.5 yuan. According to the US, the central bank of China has allowed the value of the yuan to go up to seven against the dollar.

European stock markets entered the negative zone as soon as they opened. London's FTSE-1 index was down 2 percent in the opening trade, Frankfurt-Dax3 at 5.7 percent, Paris Cake-1 at 2 percent, Euro Stocks at 5.8 percent. It is worth mentioning that the yuan has seen a five percent drop in value since crossing the high level of the EU in February.