Home · Weather · Forum · Learning Chinese · Jobs · Shopping
Search This Site
China | International | Business | Government | Environment | Olympics/Sports | Travel/Living in China | Culture/Entertainment | Books & Magazines | Health
Home / Business / News Tools: Save | Print | E-mail | Most Read | Comment
Yuan set to rebound as US dollar falls
Adjust font size:

The yuan is expected to see some correction this week after a fast-tracked appreciation.


The People's Bank of China set the central parity rate of the yuan at 7.3890 against the greenback on Friday, the highest point of six straight trading days.


The central parity rate has been set below 7.4000 in the last two sessions, compared with below 7.3900 in the previous two sessions, indicating that the yuan needs a brake for a short adjustment before gaining steam for a further rise, traders said.


Traders expected the yuan to rebound before the third US-China Strategic Economic Dialogue that begins on December 13.


Expectations of a weaker US dollar and a heavy play of yuan in China's economy are likely to further increase the yuan's value.


(Shanghai Daily December 3, 2007)

Tools: Save | Print | E-mail | Most Read

Username   Password   Anonymous
China Archives
Related >>
- Greenback decline has ripple effects
- Yuan breaks 7.4 mark against US dollar
- Adviser warns on huge rise in yuan
- China may expand RMB's trading band
Most Viewed >>
-China set to hit the brakes on rising yuan
-Power to resume shortly in worst-hit area by snow
-Online operators are on top of the game
-Macao's gaming market expands further
-Insurance firms set to stump up billions

May 15-17, Shanghai Women's Forum Asia
Dec. 12-13 Beijing China-US Strategic Economic Dialogue
Nov. 27-28 Beijing China-EU Summit

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?
SiteMap | About Us | RSS | Newsletter | Feedback

Copyright © All Rights Reserved E-mail: Tel: 86-10-88828000 京ICP证 040089号