Stable rise seen after stability vow
By Cathy Ding |
April 19, 2010, Monday
|
Print Edition
Print Edition
THE yuan may appreciate slightly against the United States dollar this week after top Chinese government officials pledged to maintain a reasonable and stable adjustment of the currency rate.
The yuan closed almost flat against the greenback at 6.8261 last week, according to the China Foreign Exchange Trade System. The yuan closed at 6.8260 the previous week.
Vice Minister of Commerce Zhong Shan said at the China Import and Export Fair in Guangzhou over the weekend that China will maintain stability in its foreign trade policies and exchange rate.
Yao Jian, a spokesman at the Ministry of Commerce, said last Thursday that China will keep a stable and consistent macro-economic policy. He reiterated that keeping the yuan stable not only helps export-oriented companies but can also curb the inflow of hot money.
The yuan closed almost flat against the greenback at 6.8261 last week, according to the China Foreign Exchange Trade System. The yuan closed at 6.8260 the previous week.
Vice Minister of Commerce Zhong Shan said at the China Import and Export Fair in Guangzhou over the weekend that China will maintain stability in its foreign trade policies and exchange rate.
Yao Jian, a spokesman at the Ministry of Commerce, said last Thursday that China will keep a stable and consistent macro-economic policy. He reiterated that keeping the yuan stable not only helps export-oriented companies but can also curb the inflow of hot money.
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