The Chinese yuan is rising against the US dollar, prompting the nation’s central bank to purchase USD. The yuan rose 0.2% against USD earlier this week to 6.9964The Chinese yuan is rising against the US dollar, prompting the nation’s central bank to purchase USD. The yuan rose 0.2% against USD earlier this week to 6.9964

Chinese Yuan Rallies Against US Dollar, Forcing BRICS Nation’s Central Bank To Abruptly Buy USD: Report

The Chinese yuan is rising against the US dollar, prompting the nation’s central bank to purchase USD.

The yuan rose 0.2% against USD earlier this week to 6.9964 yuan per US dollar, forcing the People’s Bank of China to take action, reports Bloomberg.

Sources familiar with the matter who wish to remain anonymous say that Chinese banks have been seen purchasing greenbacks at a high rate at about 7.0067 yuan per dollar, though no specific details were mentioned.

According to the report, the Chinese yuan is heading toward the best year in the last five years against the US dollar as the nation has strengthened its currency.

As stated by Golden Credit Rating International Co chief macro analyst Wang Qing in the report,

“The yuan has been bolstered by weakness in the dollar and seasonal foreign-exchange conversion by exporters. A sustained yuan gain will be helpful in increasing the appeal of China’s capital markets to foreign investors.”

Australia and New Zealand Banking Group senior strategist Xing Zhaopeng told Bloomberg that he expects the yuan to keep its momentum and stay between 6.95 to 7 against the dollar for the first half of next year while other unnamed analysts said they believe the yuan is still undervalued.

Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Chinese Yuan Rallies Against US Dollar, Forcing BRICS Nation’s Central Bank To Abruptly Buy USD: Report appeared first on The Daily Hodl.

Market Opportunity
Talus Logo
Talus Price(US)
$0.01049
$0.01049$0.01049
+2.94%
USD
Talus (US) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Solana Hits $4B in Corporate Treasuries as Companies Boost Reserves

Solana Hits $4B in Corporate Treasuries as Companies Boost Reserves

TLDR Solana-based corporate treasuries have surpassed $4 billion in value. These reserves account for nearly 3% of Solana’s total circulating supply. Forward Industries is the largest holder with over 6.8 million SOL tokens. Helius Medical Technologies launched a $500 million Solana treasury reserve. Pantera Capital has a $1.1 billion position in Solana, emphasizing its potential. [...] The post Solana Hits $4B in Corporate Treasuries as Companies Boost Reserves appeared first on CoinCentral.
Share
Coincentral2025/09/18 04:08
A Netflix ‘KPop Demon Hunters’ Short Film Has Been Rated For Release

A Netflix ‘KPop Demon Hunters’ Short Film Has Been Rated For Release

The post A Netflix ‘KPop Demon Hunters’ Short Film Has Been Rated For Release appeared on BitcoinEthereumNews.com. KPop Demon Hunters Netflix Everyone has wondered what may be the next step for KPop Demon Hunters as an IP, given its record-breaking success on Netflix. Now, the answer may be something exactly no one predicted. According to a new filing with the MPA, something called Debut: A KPop Demon Hunters Story has been rated PG by the ratings body. It’s listed alongside some other films, and this is obviously something that has not been publicly announced. A short film could be well, very short, a few minutes, and likely no more than ten. Even that might be pushing it. Using say, Pixar shorts as a reference, most are between 4 and 8 minutes. The original movie is an hour and 36 minutes. The “Debut” in the title indicates some sort of flashback, perhaps to when HUNTR/X first arrived on the scene before they blew up. Previously, director Maggie Kang has commented about how there were more backstory components that were supposed to be in the film that were cut, but hinted those could be explored in a sequel. But perhaps some may be put into a short here. I very much doubt those scenes were fully produced and simply cut, but perhaps they were finished up for this short film here. When would Debut: KPop Demon Hunters theoretically arrive? I’m not sure the other films on the list are much help. Dead of Winter is out in less than two weeks. Mother Mary does not have a release date. Ne Zha 2 came out earlier this year. I’ve only seen news stories saying The Perfect Gamble was supposed to come out in Q1 2025, but I’ve seen no evidence that it actually has. KPop Demon Hunters Netflix It could be sooner rather than later as Netflix looks to capitalize…
Share
BitcoinEthereumNews2025/09/18 02:23
Trump–Zelensky Meeting in Florida Moved to 1:00 PM ET at Mar-a-Lago to Discuss Ukraine Conflict

Trump–Zelensky Meeting in Florida Moved to 1:00 PM ET at Mar-a-Lago to Discuss Ukraine Conflict

The post Trump–Zelensky Meeting in Florida Moved to 1:00 PM ET at Mar-a-Lago to Discuss Ukraine Conflict appeared on BitcoinEthereumNews.com. COINOTAG News, citing
Share
BitcoinEthereumNews2025/12/28 12:35