Reuters Reported Earlier, China FX Self Regulatory Body Said Yuan Exchange Rate Has The Solid Basis To Stay Reasonably Stable At Reasonable And Balanced Levels, According To China Central Bank Statement
Portfolio Pulse from Charles Gross
China's foreign exchange self-regulatory body has stated that the Yuan exchange rate has a solid basis to remain reasonably stable at reasonable and balanced levels, according to a statement from the China Central Bank.
September 11, 2023 | 9:28 am
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NEUTRAL IMPACT
The statement from China's foreign exchange self-regulatory body about the stability of the Yuan exchange rate could impact the iShares China Large-Cap ETF (FXI), which tracks the performance of the largest companies in the Chinese equity market.
The stability of the Yuan exchange rate is a key factor for the performance of the Chinese equity market. As FXI tracks the performance of the largest companies in the Chinese equity market, any news about the stability of the Yuan exchange rate could potentially impact the ETF. However, the exact impact would depend on various other factors including the overall market sentiment and the performance of the individual companies in the ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80