securities firm: Recently, the central government vowed to keep the US dollar-yuan exchange rate at a reasonable level, so it has grown stricter about controlling capital outflows, according to Global Times China. At the same time, it is seeking to lowering expectations for further yuan depreciation. Much of the investment has been legitimate, but some has violated laws governing overseas investment. Photo CFP A Beijing resident surnamed Xie has bought about 100,000 worth of US currency since the middle of 2016. I judged that the yuan would depreciate further, so I decided to exchange some yuan for US dollars, said Xie, who works at a securities firm and didn't want to disclose his full name. When he started buying the greenback, each US dollar cost him about 6.58 yuan.
(news.financializer.com). As
reported in the news.
Tagged under securities firm, yuan depreciation topics.