Yuan seen stable against greenback
By Zhu Shenshen |
April 26, 2010, Monday
|
Print Edition
Print Edition
THE yuan is likely to remain stable against the US dollar this week because a hasty appreciation of the Chinese currency will severely impact the domestic labor-intensive industries.
The yuan ended slight lower against the greenback last week at 6.8264 last Friday, according to the China Foreign Exchange Trade System.
If the yuan climbs by a wide margin it will hit the domestic industries, especially in light industry, textiles and electronics, according to Zhu Hongren, a senior official at the Ministry of Industry and Information Technology.
The yuan ended slight lower against the greenback last week at 6.8264 last Friday, according to the China Foreign Exchange Trade System.
If the yuan climbs by a wide margin it will hit the domestic industries, especially in light industry, textiles and electronics, according to Zhu Hongren, a senior official at the Ministry of Industry and Information Technology.
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