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Maroc Maroc - WN.COM - Business - 27/Nov 02:52

Yuan seen on sustained gradual rise

The central parity rate of the renminbi in the interbank foreign exchange market strengthened 30 pips to 7.0796 against the US dollar on Wednesday, following a 21-pip increase on Tuesday. Analysts said the Chinese currency is likely to retain a mildly stronger bias in the near term and maintain a stable and gradually appreciating trend over the longer run. Wang Qing, chief macroeconomic analyst at Golden Credit Rating International, said the recent rapid depreciation of the Japanese yen and other factors have intensified volatility in global currency markets, with the US Dollar Index exhibiting an upward trend amid fluctuations. Under these...

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