Market decides exchange rate
Source: Xinhua |
March 7, 2013, Thursday
|
Print Edition
Print Edition
CHINA'S top foreign exchange regulator Yi Gang said yesterday that the yuan exchange rate had been decided by the market and required little intervention from monetary authorities.
The yuan's value has come very close to a balanced level and it will become more balanced, more flexible and remain basically stable this year, said Yi, head of the State Administration of Foreign Exchange.
Since China started reforming its exchange rate regime in 2005 to make its currency more flexible and market-oriented, the yuan has appreciated by more than 30 percent against the US dollar.
The yuan's value has come very close to a balanced level and it will become more balanced, more flexible and remain basically stable this year, said Yi, head of the State Administration of Foreign Exchange.
Since China started reforming its exchange rate regime in 2005 to make its currency more flexible and market-oriented, the yuan has appreciated by more than 30 percent against the US dollar.
- 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.
