ShanghaiCiti sees the yuan strengthening to 6.5 per dollar by mid-2027.
The bank is aligning with Chinese authorities’ drive to widen yuan use.
Citi will help Chinese firms invoice overseas customers in yuan and hedge currency risk as they expand into Africa and Latin America.
Flavio Figueiredo, Citi’s global head of foreign exchange, says wider yuan use will be gradual, not quick.
That would be a gain of nearly 3% from Wednesday’s 6.67.
How each outlet framed it
- Reuters
- frames Citi's yuan push in client-service terms, quoting Figueiredo that its role is to help Chinese clients invoice overseas customers in yuan
Sources: Reuters