The Chinese yuan surged on the back of aggressive Chinese central bank stimulus.TelegraphChina's stimulus package has boosted market sentiment and pushed the Chinese yuan to a 16-month high.The People's Bank of China cut interest rates and reduced bank reserve requirements.But a strong yuan could hurt exports, a key pillar of China's economy, amid weak domestic demand.China's massive stimulus package for its battered economy has boosted market sentiment and injected confidence into the Chinese yuan.On Tuesday, China's top regulators appeared at a press conference together in an effort to boost market sentiment.
Comment on The Chinese yuan surged to a 16-month high, but Beijing may not be happy about it
htan@insider.com (Huileng Tan), Business Insider
Tue, 09/24/2024 - 10:34pm
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