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Renminbi on track for stability against USD
The renminbi is still on track for overall stability with two-way fluctuations against the US dollar in the months ahead, and with limited risks of one-sided and substantial appreciation, said a leading currency expert. After the Fed's rate cut and China's stimulus package fueled a rally in renminbi-denominated assets, with the offshore renminbi strengthening past the 7-per-dollar milestone in late September, talks about the possibility of a drastic renminbi appreciation have emerged. Referring to this very issue, Guan Tao, global chief economist at BOCI China, said: "There's a possibility for everything. But, first ... (full story)
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- Posted: Oct 8, 2024 12:30am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 3,558
