Yuan options at their most bearish since June as traders expect sharper fall

Beijing

TRADERS are paying more to bet on a yuan decline with options as the currency slumps to an eight-year low amid the US dollar's ascent.

The extra cost for options to sell the yuan against the dollar over contracts to buy was at 1.88 per cent in Hong Kong on Wednesday, three-month risk-reversal prices show. That's the highest since June 30, and more than double the level reached before Donald Trump's victory in the US presidential election earlier this month.