May 06, 2022 06:18 PM
OPINION
Wang Tao: How Far Will China's Yuan Depreciate
The People’s Bank of China has tentatively signaled that it wants to slow the yuan depreciation momentum. Photo: VCG
The Chinese yuan depreciated sharply against the U.S. dollar in the past two weeks. After a few months of trading in a narrow range between 6.3 and 6.4, the yuan depreciated notably against the U.S. dollar since April 19. The recent quick depreciation came as the U.S. dollar continued to strengthen, with the U.S. Dollar Index (DXY) breaking 103 on April 29, and the Japanese yen breaching 130 against the dollar.
You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code
Wang Tao is the head of Asia economics and chief China economist of UBS Investment Bank.
RELATED
MOST POPULAR
- 1In Depth: The Shadowy Businessman Behind a Multibillion-Dollar Bank Swindle
- 2European Demand for Chinese Solar Panels Soars as Russia Withholds Natural Gas
- 3Cover Story: The Double Squeeze on China’s ‘Sandwich Generation’
- 4Covid Quarantine Bus Crash Kills 27 in Guizhou Province
- 5Distressed Chinese Developers Scramble for a Piece of $28.5 Billion Industry Bailout
SPONSORED
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas
Sign in with Google
Sign in with Facebook
Sign in with 财新