Frankfurt The extent of the current weakness of the Chinese currency, the yuan, can be seen from a report: Last week, the Chinese central bank felt compelled to refer to its resources in the event of a currency crisis in one of its publications.
At that point, the yuan was at a seven-month low against the US dollar and was close to its 15-year low from the first quarter of 2008. It is also currently weaker against the euro than it has been in over two years.
Currency experts see further risks, especially in the short term. The reason for this is China’s economic problems. Many analysts do not expect the currency to stabilize until the US Federal Reserve stops raising interest rates. At the beginning of the year, they were still downright euphoric about the lifting of the corona restrictions there.
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