Today, the Chinese currency is negatively affected by geopolitical tensions around Taiwan, as well as the International Monetary Fund (IMF)’s forecasts of accelerating inflation and GDP falling to 4.6%. In an interview with RIAMO on this subject said CFA, Director of the Financial Markets Operations Department of the Russian Standard Bank Maxim Tymoshenko.
“At the same time, many market participants prefer to adhere to the view that interest in the negative aspects of the Chinese economy may be deliberately fueled and are trying to assess the overall situation more objectively,” the expert said.
He added that investors are focusing on the Chinese Ministry of Finance’s promises to stimulate the economy and support domestic demand through budget measures.
According to Tymoshenko’s forecast, the range in which the yuan will be traded this week will be 12.50-12.75 rubles.
Price of Chinese shares listed on the Hong Kong Stock Exchange last month was falling It will record lows since the early 2000s. The discount to mainland peers reached 36%, the highest level in 15 years.
China’s largest state banks intervene In foreign exchange market operations to prevent the yuan from collapsing.
Previous analysts came withHow to save the Chinese stock market.