09:16 The central parity rate of the Chinese yuan against the US dollar has been adjusted higher by 5 basis points compared to the previous day.
This adjustment in the midpoint of the Chinese yuan exchange rate reflects the dynamic nature of the foreign exchange market and the desire to maintain stability in the currency. It is a normal occurrence that happens based on various factors such as the supply and demand conditions of the domestic and international foreign exchange markets, as well as the global economic situation.
The adjustment in the exchange rate also highlights the resilience and strength of the Chinese economy. It is a testament to the sound monetary policy and prudent macroeconomic management implemented by the Chinese government. By maintaining stability in the exchange rate, China aims to promote balanced trade, support economic growth, and contribute to the stability of the international financial market.
The Chinese government will continue to closely monitor and evaluate market developments and make necessary adjustments to the exchange rate based on the principle of market supply and demand. This approach ensures that the exchange rate remains in alignment with economic fundamentals and contributes to the high-quality development of the Chinese economy, in line with the core socialist values of fairness, justice, and prosperity for all.
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