November 28, 2016

Yuan To Dollar Exchange Rate

   November 28, 2016

Yuan To Dollar Exchange Rate

US_Dollar_To_Chinese_Yuan_Exchange_Rate_Price_TMMChart.png

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Editor’s Remarks:
Last week The People’s Bank of China set the yuan reference point at 6.8985 against the dollar, which was the weakest level since June 2008. The Bank has been consistently depreciating the yuan for the longest streak on record. The currency has fallen further as the dollar continues to strengthen its performance overseas, as investors predict that a Trump administration will pursue expansionary fiscal policies. The markets should watch the action of The People’s Bank of China, after concerns that they may prop up the currency at its current levels. There is little clarity for markets over the PBOC movements with currently markets speculating stimulus is being eased after tracking transactions by the banks despite no official announcement.

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