How China Manages Its Currency—and Why That Matters
Updated Dec. 29, 2023 8:31 am ETChina’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.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8