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In Depth: Behind the Yuan’s Tumble Against the Dollar

By Peng Qinqin, Wang Shiyu and Kelsey Cheng
2022年05月31日 21:03
The Chinese currency weakened to a 20-month low versus the greenback in mid-May. But where’s it going from here?

The yuan’s recent weakening has been dramatic, but to many, it wasn’t a surprise.

Analysts were already predicting late last year that the yuan’s appreciation since June 2020 — due to a combination of surging exports and capital inflows — could lose steam, especially once the U.S. Federal Reserve started raising interest rates to tame inflation.

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