US dollar-yuan exchange rate: China sees currency rise as ‘relatively moderate’ despite concerns

Asia World
The yuan has gained around 7 per cent against the US dollar in the past six months, stoking debate over whether authorities should intervene to slow the rally, although officially, the People’s Bank of China (PBOC) has stopped directly intervening in the exchange rate, instead leaving it to the market. Photo: EPA-EFE The yuan has gained around 7 per cent against the US dollar in the past six months, stoking debate over whether authorities should intervene to slow the rally, although officially, the People’s Bank of China (PBOC) has stopped directly intervening in the exchange rate, instead leaving it to the market. Photo: EPA-EFE

The yuan has gained around 7 per cent against the US dollar in the past six months, stoking debate over whether authorities should intervene to slow the rally, although officially, the People’s Bank of China (PBOC) has stopped directly intervening in the exchange rate, instead leaving it to the market. Photo: EPA-EFE