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Home > News > TODAY THE CURRENCY BEYOND 7 YUAN PER US DOLLAR IN 2019

TODAY THE CURRENCY BEYOND 7 YUAN PER US DOLLAR IN 2019

2019-08-06

TODAY THE CURRENCY BEYOND 7 YUAN PER US DOLLAR IN 2019


Despite recent weakening, the yuan has strengthened 20 percent against the dollar over the past two decades, the strongest among major currencies in the world.

The yuan remained basically stable and strong against a basket of currencies, with the China Foreign Exchange Trade System yuan exchange rate composite index up 0.3 percent since the beginning of the year.

Although the yuan's central parity rate had weakened about 0.53 percent against the dollar by Friday, its depreciation was much smaller than those of the Korean won, the Argentine peso and the Turkish lira.

"Seven is just a number. It is normal to rise and fall," said Bai Ming, deputy director of the International Market Research Department under the Ministry of Commerce.

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