Yuan not expected to change very much
By Ding Yining |
October 19, 2009, Monday
|
Print Edition
Print Edition
THE yuan may trade within a close range against the US dollar this week as China continues to maintain a stable currency despite an improving economy.
The local currency edged up slightly against the US dollar and closed at 6.8270 last Friday, according to the China Foreign Exchange Trade System.
"The yuan may climb against the US dollar, but it will not be a large move," the Bank of China said.
"With exports still falling, China won't allow the yuan to appreciate," National Development and Reform Commission economist Zhang Yansheng said.
The local currency edged up slightly against the US dollar and closed at 6.8270 last Friday, according to the China Foreign Exchange Trade System.
"The yuan may climb against the US dollar, but it will not be a large move," the Bank of China said.
"With exports still falling, China won't allow the yuan to appreciate," National Development and Reform Commission economist Zhang Yansheng said.
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