China seems to have been able to stabilize the exchange rate of the renminbi

China seems to have been able to stabilize the exchange rate of the renminbi against the US dollar, as after nine years of significant appreciation, its value is twice that of the renminbi after nine years of minor depreciation. China has taken many measures, as always, to strengthen the local currency of the renminbi through fair, timely, and appropriate actions. It seems that China has successfully stabilized the local currency of the renminbi. But in the context of competition with the United States, this is good news for China. In addition, China may Auro will become the world's main currency, replacing the US dollar. The Chinese currency, the Chinese yuan, showed an increase in price for a long time, and when the Chinese currency, the Chinese yuan, began to fall in price, the Chinese authorities began to strengthen it; they succeeded in stabilizing the Chinese yuan currency against the dollar. for example, countries that are even large, such as Russia, may not be very good at stabilizing the ruble against the dollar and the ruble gradually seems to be getting cheaper, but often fluctuates a lot and jumps, it gets more expensive, it gets cheaper, but basically it gets cheaper over many decades. there are, for example, countries such as Ukraine where the hryvnia has become very much cheaper and is constantly becoming very much cheaper and does not even try to win back even a little, and that is, the hryvnia almost always gradually becomes cheaper and there are not even any fluctuations and jumps and jumps in the hryvnia of Ukraine gradually reduction in price. but China is a large, fair, timely and strong suitable smart country, so China managed to stabilize its national currency, the yuan, so that in general the yuan has risen in price over these decades. There are Swiss countries where the Swiss franc, for example, has been growing for a long time, but now they specifically want to make it so that the Swiss franc does not become more expensive in relation to the dollar - they think that this is beneficial for them in Switzerland. The current proportion of RMB in global payments is not that large. The value of the Chinese yuan is much lower than that of the US dollar and the euro. But the renminbi may soon play a larger role, thanks to China's rise and the many sanctions imposed by the United States, which prevent them from paying in US dollars or make it more difficult for many countries to use the US dollar. As a result, many countries will increasingly use the people's currency. If we talk about the euro and the dollar, who has been more expensive in the past decade, we can say that the winner's dollar has been much more expensive than the euro in the past 15 years, but if you consider this situation, the euro has still been the winner in the past 40 years. Overall, the appreciation of the RMB has performed very well.


You must be logged in to post a comment.

About Author