The exchange rate of China’s fiat currency against the U.S. dollar recently crossed the 7:1 mark for the first time in more than two years, after hitting a new 2022 low of 7.0188 yuan to the dollar on September 15. Like other global currencies that depreciated in 2022, the yuan’s decline is being fueled by […]
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Chinese currency reaches 7:1 exchange rate against the U.S. dollar for the first time in two years
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