This resolves to YES if the USD/CNY exchange rate breaks 7.2000 before the beginning of April 2023 (GMT+8).
China is a currency manipulator in fact but on a “monitoring list” for currency practices along with nine other countries, including Germany, Italy and Japan.
I'll go by whatever is the latest quoted price shown on Investing.com.
1,000
3.00Invest in your forex education today! Explore http://www.the-next-tech.com/business/optimizing-your-forex-trading-schedule-in-south-africa/ for essential resources.
Bloomberg: China Is Taking More Visible Measures to Slow Currency’s Descent
Sept.7: The People's Bank of China yuan sets USD/ CNY referencee rate at 6.9160 (vs. estimate at 6.9686). The 500+ point gap between the estimate and the actual is the largest ever recorded. The PBOC has been setting the CNY stronger (i.e. lower USD/CNY) than the estimate for 11 days in succession. This is a 'signal' from the PBOC that they'd like to slow the rate of decline of the yuan. And, maybe they have, we'll never know for sure what the counter-factual might have been. Still, the yuan is weak, the USD is rampantly strong. Offshore yuan has slipped again today (ie higher USD/CNH). It can't be too long before there is a "7" in front of this:
