The central bank of China on Monday, October 24, made a decrease in the rate of national currency against the dollar by 44 points. The exchange rate now stands at 7.123 yuan per $1, according to the website of the People's Bank of China.
As a reminder, the yuan exchange rate has been declining for several months in 2020. It was affected by the coronavirus pandemic. But during 2021, China's currency began to strengthen against the U.S. dollar.
Since the beginning of 2022, the exchange rate of the yuan against the dollar has declined by 11.6%.