5 Hrs
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الاقتصادية
Yuan Gains Amid Dollar Fall and Middle East Hopes
The value of the Chinese yuan increased against the dollar, benefiting from the decline in the US dollar following the United States' decision to cancel military strikes on Iran. This has bolstered hopes for the possibility of reaching a peace agreement between Washington and Tehran. As a result, the dollar index dropped to its lowest level in a week, with expectations that the yuan will rise by approximately 0.3% for more than a week, amid positive comments from the US President about the potential for an agreement over the weekend. Additionally, the People’s Bank of China set the reference exchange rate at its strongest level since February 2023, with predictions of further increases throughout the coming year.
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