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Yuan Likely Around 6.68 Against Dollar By End-June-Yicai

CHINA PRESS
MNI (Singapore)

The yuan is likely to stay around the 6.68 level against the U.S. dollar by the end of June, compared to Wednesday’s closing price of 6.6830, Yicai.com reported citing its survey of economists. The economists raised their forecast for the yuan-dollar exchange rate by year-end to 6.63 from a previous 6.67 forecast made last month, Yicai said. The yuan remained relatively strong against the yen, euro and pound, though weakening against the dollar recently. Allowing a more flexible yuan will provide room for monetary policy to stabilise economic growth, said Yicai citing Xu Sitao, chief economist at Deloitte China.

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