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MNI (Sydney)

The yuan exchange rate is likely to be stable in the long term despite losing 1.5% to the dollar in March, the PBOC-owned Financial News reported. The depreciation of CNY is modest compared with the 2.3% rise in the USD Index, and the yuan has stayed strong against a basket of currencies, the newspaper said citing Zhou Maohua, an analyst with the China Everbright Bank Financial Market Department. The CNY exchange rate is predicted to show a two-way volatility pattern despite recent drastic fluctuations in the overseas market, Zhou said.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com