Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Palestinian platforms: Settlers storm Al-Aqsa Mosque complex under the protection of the occupation police
Palestinian platforms: The IOF detonated a booby-trapped robot east of the al-Zaytoun neighborhood, south of Gaza City
Syrian Defense: We call on all parties in Sweida to cooperate with security forces and exercise restraint
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed
Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area
Gaza Civil Defense spokesman: Citizens should avoid Salah al-Din Street because anyone who approaches it is at risk of being directly targeted
Gaza Civil Defense spokesman: Reality is that there is a very limited retreat of the vehicles, with the occupation forces providing cover undeer fire up to Salah al-Din Street

US dollar reaches 16-year high against Chinese Yuan

  • By Al Mayadeen English
  • Source: Agencies
  • 7 Sep 2023 18:39
2 Min Read

The US dollar has appreciated in relation to the Chinese yuan: with 1 dollar amounting to 7.3285.

  • x
  • U.S. dollar and Chinese yuan notes during an interview in Seoul, South Korea, on May 3, 2023 (AP)
    U.S. dollar and Chinese yuan notes during an interview in Seoul, South Korea, on May 3, 2023 (AP)

The US dollar's exchange rate surged past 7.3285 Chinese yuan on Thursday, marking its highest point in nearly 16 years, Sputnik reported citing trading data.

As of 11:06 AM GMT, the dollar continued its upward trajectory, reaching 7.3281 yuan, a significant increase from the previous day's closing rate of 7.316 yuan. Moments before, the Chinese currency experienced a significant setback, hitting a 16-year low when the exchange rate briefly touched 7.3288 yuan for one US dollar.

The rapid appreciation of the US dollar against the yuan has sent ripples through global financial markets, with analysts suggesting that this shift could have far-reaching implications for international trade. 

Related News

US Treasury chief rejects yuan as reserve currency

Taliban discuss with Russia, China transactions via local currencies

Read more: Yuan's share of transactions at highest point since January '22: SWIFT

It was reported back in late August that the euro has experienced an unprecedented decline in its usage for international payments via the SWIFT system. Various media outlets reported a remarkable shift towards the US dollar and the Chinese yuan in global financial transactions.

According to a report from RIA Novosti, the July 2023 statistics indicate a stark decrease in the global share of transactions involving the Euro. The usage of the Euro in international payments plunged to a historic low of 24.4%, marking a substantial decline of 6.83% when compared to the preceding month. Conversely, the percentage of payments conducted in US dollars has seen a notable surge, reaching 46.4%.

Read more: Argentina to pay for Chinese imports in Yuan, not dollar

  • Yuan
  • US
  • China

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The Freedom Flotilla ship Handala as it departs for Gaza, where it aims to break the maritime blockade at a port in Syracuse, Sicily in southern Italy on July 13, 2025. (AFP)
Palestine

Freedom Flotilla's Handala departs Sicily in bid to break Gaza siege

The container ship CMA CGM Laperouse, left, docks at the Georgia Ports Authority's Port of Savannah, Sept. 29, 2021, in Savannah, Ga (AP)
Politics

US shipbuilding woes deepen as tariffs, outdated policies backfire

Gaza war raises ethical questions for ex-Obama, Biden officials
Politics

Mercenary firm tied to Gaza war crimes hires Obama-Biden PR operatives

'Israel' targets children in Gaza collecting water
Palestine

'Israel' strikes Gaza kids fetching water, blames it on 'malfunction'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS