Related News
Yuan set to appreciate as exports grow
By Ding Yining |
December 21, 2009, Monday
|
Print Edition
Print Edition
The yuan is expected to appreciate against the US dollar in the first quarter of the next year as exports are expected to see more signs of recovery by then, analysts said.
The local currency dipped against the dollar in the last week and ended at 6.8284 last Friday, according to the China Foreign Exchange Trade System. The yuan closed at 6.8277 at the end of the previous week.
"China is likely to start to depegging the yuan to the US dollar as early as the first quarter of next year," Zhao Qingming, a senior researcher at China Construction Bank, wrote in a research report.
China will have more pressure of inflow of capital by then and also shall have a better view of economic recovery around the globe, he added.
The yuan has been kept at about 6.83 per dollar since July 2008 for export concerns.
Guotai Jun'an Securities also said in a research note that the yuan will stay around 6.7 against the dollar by the end of 2010.
The local currency dipped against the dollar in the last week and ended at 6.8284 last Friday, according to the China Foreign Exchange Trade System. The yuan closed at 6.8277 at the end of the previous week.
"China is likely to start to depegging the yuan to the US dollar as early as the first quarter of next year," Zhao Qingming, a senior researcher at China Construction Bank, wrote in a research report.
China will have more pressure of inflow of capital by then and also shall have a better view of economic recovery around the globe, he added.
The yuan has been kept at about 6.83 per dollar since July 2008 for export concerns.
Guotai Jun'an Securities also said in a research note that the yuan will stay around 6.7 against the dollar by the end of 2010.
- 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.
