Of the US$110 billion decline in foreign exchange reserves since last October, close to US$90 billion was due to market interventions to support the yuan. Photo: Reuters
Aidan Yao
Opinion

Opinion

Macroscope by Aidan Yao

China still fighting an uphill battle to stabilise renminbi

The chance is low of a large, one-off adjustment on the yuan’s exchange rate, although we won’t write it off completely

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Of the US$110 billion decline in foreign exchange reserves since last October, close to US$90 billion was due to market interventions to support the yuan. Photo: Reuters
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