Related News
Bank report damps yuan
THE yuan is likely to decline against the United States dollar because a bank report indicated that investors are generally "optimistic" about the outlook for the American economy, experts said.
The Chinese currency was little changed against the greenback at 6.8380 on January 23, according to the China Foreign Exchange Trade System. The yuan ended at 6.8383 on January 16.
The foreign exchange market was closed for Spring Festival last week.
"The dollar may be strong in the near future as investors are generally optimistic about the outlook for the American economy and hoping that the newly elected president would carry out more measures," according to a research note by the Bank of China. "But the dollar will not return to the level in the first half of last year." The US House of Representatives passed an US$819-billion stimulus last Wednesday, and the new plan is set to save or create more than 3 million new jobs over the next few years.
The Chinese currency was little changed against the greenback at 6.8380 on January 23, according to the China Foreign Exchange Trade System. The yuan ended at 6.8383 on January 16.
The foreign exchange market was closed for Spring Festival last week.
"The dollar may be strong in the near future as investors are generally optimistic about the outlook for the American economy and hoping that the newly elected president would carry out more measures," according to a research note by the Bank of China. "But the dollar will not return to the level in the first half of last year." The US House of Representatives passed an US$819-billion stimulus last Wednesday, and the new plan is set to save or create more than 3 million new jobs over the next few years.
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.