Reported about 1 year ago
Following the Dragon Boat Festival holiday on June 11th, the Chinese yuan experienced a significant drop against the U.S. dollar, falling below 7.25 yuan onshore, marking a near seven-month low. Market analysis suggests that due to the strength of the dollar, the yuan may continue to face pressure in the short term and may reach around 7.35 yuan by the end of the year. Various financial institutions provide different forecasts on the future trajectory of the yuan, with some expecting a gradual recovery towards the end of next year.
Source: YAHOO