Yuan Exchange Rate Stabilizes with Significant Rebound

Publicado: Jan 22, 2025 07:40
In recent times, with the continuous release of signals to stabilize the exchange rate and the strengthening of policies to maintain exchange rate stability, the yuan exchange rate has shown a significant stabilization after a slight decline at the beginning of the year. On the evening of January 20, the offshore yuan against the US dollar surged sharply, briefly reclaiming the 7.28 level and rising strongly by over 400 points. The onshore yuan against the US dollar also experienced a sharp surge, climbing nearly 500 points in a short period. Over the past week, the onshore yuan against the US dollar rebounded by nearly 700 points, while the offshore yuan rose by more than 800 points. Several industry insiders stated that after the previous release of depreciation pressure on the yuan, positive factors driving a new round of rebound for the yuan are now accumulating.

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In recent times, with the continuous release of signals to stabilize t - Shanghai Metals Market (SMM)