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Yuan May Recover To 6.4 Against Dollar In 2023 - Expert

CHINA PRESS
MNI (BEIJING)

The Yuan could hit 6.4 against the dollar in 2023, as widening China-US growth differential’s add support to Yuan recovery, according to Zhang Ming, deputy director of the Institute of Finance & Banking at the Chinese Academy of Social Sciences. Zhang thinks the US is facing a potential economic downturn this year, and this coupled with China’s recovery, are reasons to see further Yuan strengthening on the way. For the first half of 2023, Yuan/Dollar will fluctuate around 6.5-6.9, while in the second half a move down to 6.4 might occur. Growth in China can be above 5.5% this year, but difficulties remain to restore consumer confidence and boost demand for real estate, he said. (Source: Yicai.com)

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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