Renminbi set to recover losses against dollar
China lowers GDP target to “around” 7%, but no devaluation in sight, say analysts
The renminbi is set to recover losses against the US dollar by the second half of this year, even if the economy slows down, analysts forecast, but the People's Bank of China (PBoC) will have to embark on further easing measures to bring more liquidity into the system.
Although the central bank does not disclose the composition of its foreign exchange reserves, analysts have noted the PBoC has been selling US dollars to compensate for capital outflows. The latest easing measures, announced over
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