Depreciation of China yuan is Controllable after Falling through 7 for the First Time This Year

After falling through 7 for the first time this year, the exchange rate of China yuan against US dollar continued its consolidation on May 18. Experts believe that the recent rise in the US dollar index has caused short-term disturbances to the movements of non-US dollar currencies, including the yuan.

Recently, the depreciation of the yuan has been within a controllable range, and has not deviated from the range since the beginning of the year. The internal and external environment for the yuan exchange rate is more favourable, and it is expected to remain basically stable at a reasonable and balanced level in the future.

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