Stable rate to see yuan in close range against dollar
By Ding Yining |
February 8, 2010, Monday
|
Print Edition
Print Edition
WITH China pledging to maintain a stable and reasonable exchange rate, the yuan is likely to remain in a close range against the United States dollar this week.
The Chinese currency ended flat against the dollar last week at 6.8272 last Friday, according to the China Foreign Exchange Trade System. The People's Bank of China set the mid-point rate at 6.8270 at the end of the previous week.
Foreign Minister Yang Jiechi also reiterated last Thursday during a visit to France that the yuan is currently at a reasonable and fair level.
"The yuan is not likely to appreciate against the US dollar as the greenback is gradually showing signs of appreciating and China won't let its currency rise by a very big margin," said Lu Zhengwei, an economist at the Industrial Bank.
The jobless rate in the US in January dropped to 9.7 percent from 10 percent in December last year, lower than market predictions, and gave rise to expectations that the US economy is on the mend.
The Chinese currency ended flat against the dollar last week at 6.8272 last Friday, according to the China Foreign Exchange Trade System. The People's Bank of China set the mid-point rate at 6.8270 at the end of the previous week.
Foreign Minister Yang Jiechi also reiterated last Thursday during a visit to France that the yuan is currently at a reasonable and fair level.
"The yuan is not likely to appreciate against the US dollar as the greenback is gradually showing signs of appreciating and China won't let its currency rise by a very big margin," said Lu Zhengwei, an economist at the Industrial Bank.
The jobless rate in the US in January dropped to 9.7 percent from 10 percent in December last year, lower than market predictions, and gave rise to expectations that the US economy is on the mend.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
