Prepare for more volatility in the Chinese yuan, regulator says

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BEIJING — China’s foreign exchange regulator told businesses Friday to prepare for more volatility in the yuan.

The Chinese currency, also known as the renminbi, strengthened roughly 1% this week against the U.S. dollar to levels not seen since July 2018. Less than five months ago, the yuan was at its weakest against the greenback since early 2008. Although that is based on a midpoint set by the central bank, the People’s Bank of China, Beijing has been allowing…



Source cnbc.com

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