Chinese yuan to stay resilient, rebound despite headwinds

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DESPITE external headwinds, the Chinese yuan is expected to maintain its resiliency and rebound later this year, thanks to the country's productivity strength, abundance of foreign exchange reserves and strengthened policy support for economic growth, experts said.

Sources close to central bank authorities said the upcoming issuance would far exceed previous single issuances, meeting strong demand from overseas investors for high-grade RMB bonds.

The onshore yuan rallied against the dollar to 7.3231 as of Tuesday afternoon, up 65 basis points from Monday's close, according to market tracker Wind Info.

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Category: EconomyBusiness

Markets: MalaysiaChinaHong KongIndiaUnited StatesVietnam

Topics: Foreign exchange Forex Yuan Headwinds Economy /Business/Business News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-08 @ 14:06:00 (22 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 554 words

Reading Time: 4 minutes read

Sentences: 17 lines

Sentence Length: 33 words per sentence (average)

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Copyright Owner: © The Star

News ID: 24971050

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