Updated Dec. 29, 2023 8:31 am ET
China’s approach to its currency is a mix of bold ambition and fear of dollar strength.
The yuan has lost 3% of its value against the greenback in 2023 and was doing even worse before the dollar slipped against most global currencies in November. The yuan traded around 16-year lows against the dollar in September. A dollar now buys around 7.11 yuan.
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