The Chinese currency is under depreciation pressure, as the country needs to lower its foreign debt levels, according to Mo Ji, the firm’s chief economist for Asia ex-Japan at Amundi Asset Management.
Tag: Depreciation
PBOC: China to open FX market to foreigners
Yi Gang, deputy head of China’s central bank, said that qualified foreign institutions will be allowed to enter China’s FX market in order to bridge the gap between the yuan’s onshore and offshore rate.
