Nothing too dramatic but at 6.9642 yuan per US dollar, and higher than August’s multi-year high at 6.9331, the Chinese yuan is now moving north in exchange rate terms. From a record 6.0395 in 2014, the trend to a weaker currency has been subtle. This contrasts with the trend to a stronger yuan between 2005 and 2013, where 7.1580 lies at the 50 per cent level.
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