Related News
Yuan seen trading in a narrow range
By Ding Yining |
September 14, 2009, Monday
|
Print Edition
Print Edition
THE yuan will likely trade within a close range against the United States dollar as the US economy is still weak and there is little demand for the Chinese currency to appreciate, analysts said.
The yuan closed up against the US dollar at 6.8282 last Friday, according to the China Foreign Exchange Trade System. The currency closed at 6.8310 on September 4.
The central bank set the central parity rate at 6.8292 last Wednesday, the first time the yuan was stronger than 6.83 since May 26.
"The US will likely maintain a loose monetary policy as the economy is still struggling, which will make the greenback less attractive in the near future," Zhang Zhigang, an analyst at the Agricultural Bank of China, wrote in a research report.
Huiying Investment Co said the global economy hasn't stabilized, thus the yuan will not strengthen much against the US dollar this week.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
