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Yuan May Appreciate Against USD

MNI (Singapore)

The yuan could gradually stabilise or appreciate against the U.S. dollar, should market expectations on the Chinese economy improve and the USD index weakens as the US economy slows, said Ming Ming, chief economist of CITIC Securities. The central bank has plenty of policy tools to deal with large FX fluctuations, including raising the FX risk reserve ratio or the deposit reserve ratio, as well as using central bank bills in the offshore market and restarting countercyclical factors, said analysts from Donghai Securities. The yuan began to rebound this week after approaching the CNY7.3 mark against USD. (Source: Yicai)

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