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Analysts eye stability this week
By Ding Yining |
June 8, 2009, Monday
|
Print Edition
Print Edition
THE yuan is likely to remain stable against the United States dollar this week, analysts said.
The Chinese currency dipped against the greenback to close at 6.8334 last Friday, according to the China Foreign Exchange Trade System. The yuan ended at 6.8324 at the end of the previous week.
"Traders and individual investors are waiting for clear signs of an economic recovery both at home and in the US," the Bank of China said in a research note.
"A greater exchange rate flexibility (of the yuan) will allow monetary policy to achieve sustained growth with low inflation in the future'' in China, US Treasury Secretary Timothy Geithner said in a speech at Peking University in Beijing during his maiden visit to China last week since taking up the position.
The Chinese currency dipped against the greenback to close at 6.8334 last Friday, according to the China Foreign Exchange Trade System. The yuan ended at 6.8324 at the end of the previous week.
"Traders and individual investors are waiting for clear signs of an economic recovery both at home and in the US," the Bank of China said in a research note.
"A greater exchange rate flexibility (of the yuan) will allow monetary policy to achieve sustained growth with low inflation in the future'' in China, US Treasury Secretary Timothy Geithner said in a speech at Peking University in Beijing during his maiden visit to China last week since taking up the position.
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