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Yuan Could Rise To 6.6 Against Dollar In 2023 - Herald

CHINA PRESS
MNI (Singapore)

The yuan is expected to rise by about 5% to reach about 6.6 against the U.S. dollar next year as the Federal Reserve may end its rate hikes around mid-2023 as U.S. inflation cools, and as China’s GDP rebounds on reopening, 21st Century Business Herald reported citing Wang Qing, chief analyst at Golden Credit Rating. It is possible the yuan may fluctuate around 7 in the first half of 2023 as U.S. interest rates may still rise and support the U.S. Dollar Index, the newspaper said citing Wu Zhaoyin, director of AVIC Trust. It is not recommended to bet on the one-way appreciation of yuan, as the currency may also be impacted by Sino-U.S. relations, the global geopolitical situation and domestic real estate market, the newspaper cited Wang as saying.

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