Chinese Yuan Fluctuates, Depreciation Pressure Deepens

The RMB will depreciate further as the CCP may “monetize the fiscal deficit” of the state.

A bank teller counts the stack of Chinese yuan and U.S. dollars at a bank in Shanghai on July 22, 2005. STR/AFP via Getty Images

News Analysis

The Chinese yuan was on a roller coaster from late March to early April amid colossal depreciation pressure interventions from the Chinese Communist Party (CCP), which is seeking to “monetize the fiscal deficit.”