Category: devaluation of RMB

Devaluation of Chinese Yuan an Unexpected Result of Beijing’s Effort to Take Yuan Global

July 6, 2023
Business & MarketsChina Business & EconomyChina Newsdevaluation of RMBeconomic policiesInternationalization of Chinese yuan
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The value of the Chinese yuan has been declining continuously in recent months after the country’s reopening from COVID lockdowns, and the Central Bank of China during its Q2 meeting dropped any reference to “enhancing the flexibility of the Chinese yuan exchange rate.”  According to a financial expert, the Chinese regime is currently in a…

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China’s Yuan Breaks Key Level of 7 Against US Dollar as Exports Tumble

June 13, 2023
China Business & EconomyChina Newsdevaluation of RMBexchange rateFrank Tian XieRMB exchange rate
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China’s latest official import and export figures fell short of expectations, with exports falling in May. After “breaking 7” against the U.S. dollar last month, the yuan exchange rate fell below 7.15 on June 8. A financial expert told The Epoch Times that the yuan’s depreciating value is an inevitable consequence of China’s weak exports,…

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