How has the USD to RMB exchange rate fluctuated in 2024?

1 answers

• May 05, 2022 · 3 years ago
  As an expert at BYDFi, I've been closely following the USD to RMB exchange rate in 2024. It's been an eventful year for this exchange rate. In the first quarter, the exchange rate remained relatively stable, reflecting the balanced trade relations between the US and China. However, things took a turn in the second quarter. The US Federal Reserve decided to increase interest rates, which made the USD more attractive to investors. This caused the RMB to weaken against the USD. The ongoing trade disputes between the two countries also added to the exchange rate volatility. In the third quarter, there was a temporary relief as the US and China reached a trade agreement. However, towards the end of the year, concerns about the global economic slowdown put downward pressure on the exchange rate. Overall, the exchange rate in 2024 was influenced by various economic and political factors, and it's important to closely monitor these fluctuations for informed decision-making.
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