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Yuan likely to remain strong versus US dollar
By Ding Yining |
September 21, 2009, Monday
|
Print Edition
Print Edition
THE yuan will likely remain strong against the US dollar this week due to the uncertain economic situation and low interest rates in the United States.
The Chinese currency edged up against the US dollar and closed at 6.8271 last Friday, according to the China Foreign Exchange Trade System.
The yuan closed at 6.8282 on September 11.
"The United States economy is not showing solid signs of recovery and the trade conflict between China and the US will add uncertainty to the dollar," the Bank of China said in a research report.
"Low interest rates will continue and investors are likely to favor currencies other than the US dollar," the report added.
The Chinese currency edged up against the US dollar and closed at 6.8271 last Friday, according to the China Foreign Exchange Trade System.
The yuan closed at 6.8282 on September 11.
"The United States economy is not showing solid signs of recovery and the trade conflict between China and the US will add uncertainty to the dollar," the Bank of China said in a research report.
"Low interest rates will continue and investors are likely to favor currencies other than the US dollar," the report added.
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