Yuan resilient amid USD depreciation

By Global Times

May 01, 2024 12:19 am

AS multiple Asian currencies including the yen, won and rupee continue to depreciate against the US dollar, mainly due to the US Federal Reserve's (Fed) policy, the yuan has maintained its resilience in the foreign exchange market.

Experts said that this stability is mainly due to China's solid economic fundamentals as well as effective policy regulation, and they urged the US to undertake responsibility for maintaining global economic and financial stability.

RESILIENT File photo shows a worker counting Chinese currency renminbi at a bank in Linyi, east China’s Shandong province. China’s currency remains stable as other Asian currencies are depreciating against the US dollar. XINHUA PHOTO

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