BEIJING (Reuters) – The foundation for a “basically stable” yuan exchange rate remains “solid,” according to an article published by Financial News, the People’s Bank of China’s publication, on Wednesday.
The foreign exchange market is operating steadily, and the yuan is likely to stabilise and strengthen towards the end of this year, the article said.
China’s top leaders and policymakers are considering allowing the yuan to weaken in 2025 as they brace for higher U.S. trade tariffs as Donald Trump returns to the White House, Reuters reported earlier on Wednesday.
(Reporting by Yukun Zhang and Ryan Woo; Editing by Andrew Heavens)
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