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المشهد العربي
Yuan's potential rise amid profit transfer decline
The market expects the Chinese yuan to continue its rise against the U.S. dollar in September, supported by seasonal exports during the fall and a decline in profit repatriation by foreign investors abroad. The currency's price has remained within a narrow range due to the People’s Bank of China’s insistence on setting a reference rate below market expectations for more than four months, the longest such period since 2018. The yuan is likely to stabilize between 6.70 and 6.73 against the dollar in the coming month, provided U.S. inflation remains weak.
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