BEIJING (China Daily/ANN): The renminbi strengthened against the US dollar to reach 6.3858 on Friday, a record high since May 2018, but experts said the Chinese currency's rapid appreciation may not last long as market forces will result in a two-way fluctuation of the exchange rate.
The latest signals from policymakers indicated that China will let the market demand and supply relationship determine the RMB's value, and appreciation is neither a tool to stimulate exports nor to offset the impact of rising commodity prices, they said after the currency soared to multiyear highs.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
