Stable yuan on interest rate caution
By Ding Yining |
May 24, 2010, Monday
|
Print Edition
Print Edition
THE yuan is likely to stay stable in the near future as the market is eying a cautious move by China on whether to raise the interest rate amid a still unstable economic recovery.
The currency ended basically flat against the US dollar last week at 6.8276 last Friday, according to the China Foreign Exchange Trade System. The yuan closed at 6.8273 at the end of the previous week.
Zhang Ming, a researcher at the Chinese Academy of Social Sciences, wrote in a report on Wednesday that a narrower trade surplus and falling commodity prices globally cut the urgency for a yuan's rise in the eyes of the market.
The currency ended basically flat against the US dollar last week at 6.8276 last Friday, according to the China Foreign Exchange Trade System. The yuan closed at 6.8273 at the end of the previous week.
Zhang Ming, a researcher at the Chinese Academy of Social Sciences, wrote in a report on Wednesday that a narrower trade surplus and falling commodity prices globally cut the urgency for a yuan's rise in the eyes of the market.
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