The Chinese yuan has come a long way and recovered from a low of 7.32 in late October to around $7.00. Economists at Société Générale expect USD/CNY to fall slightly to 6.80 by the end of 2023. CNY LIKELY WEAKER OTHER ASIAN CURRENCIES “We expect the currency to gradually recover to 6.80/USD3 by the end of 2023. „ „Foreign demand for Chinese goods is likely to remain weak, and exports could be disrupted by rising tariffs once quarantine restrictions are eased. This means the Chinese yuan is likely to be weaker than other Asian currencies such as the KRW. strong bond- emission, pressure on tax revenues and a significant decrease in land sales revenue.

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