NEWSGD.COM
Home | About Us | Contact Us | Site Map | Chinese
News | Biz | Pearl River Delta | Enjoy Life | Culture | Travelling | Pics | Cities & Towns | Gov Info | Specials
Home > News Brief > China
Yuan's appreciation pace paused by US factors
Latest Updated by 2006-05-15 11:26:06
Related News
Traveler with excessive foreign currency fined
U.S. government says China not currency manipulator
Policy over currency reaffirmed
China
Reform, democracy in local elections promoted
Poverty eradication program benefits farmers
Scientists top record for temperature increases

The continued appreciation of China's currency has been temporarily hampered by two pieces of news from the United States, the Shanghai Securities News reported Friday.

After five consecutive trading days of strengthening against the US dollars, Chinese currency declined over the past two days.

According to the middle price announced by the China Foreign Exchange Trading System on Thursday and Friday, one dollar was equal to 8.0062 and 8.0082 yuan respectively, rising 14 basis points and 20 basis points from the previous trading day.

On May 10, the US Federal Reserve raised its benchmark short-term interest rate by a quarter-percentage point to 5 percent, the 16th consecutive time since June 2004 and the highest level in five years.

On the same day the U.S. Treasury Department said China was not a currency manipulator, which insiders believe would alleviate U.S. long-term pressure upon China over the exchange rate issue.

The newspaper ascribed yuan's temporary depreciation mainly to the above two factors. The United States and some other Western nations have accused China of intentionally under-valuing its currency so as to boost exports.

China will go on reforming its foreign exchange rate system, and make its forex rate more flexible, said Foreign Ministry Spokesman Liu Jianchao Thursday when commenting on the US Treasury Department's remarks.
 
Editor: Yan

By: Source: China View website
Previous:  Pharmaceutical firm under probe over fake medicine  Next:Ministry: Housing supply sufficient


Palm print wall for memory


Golden rest room to increase in value


[Group Photo]Guangzhou Baiyun Mountain


Las Vegas Sands Co. invests 2 bn USD in Hengqin Island


"The Promise" crew reacts to accusation
This site contains material from other media for content enrichment purpose only.
The Southcn.com website do not endorse such content and do not bear the joint responsibility of their copyright infringement.
The views expressed in written material posted to the bulletin boards of Southcn.com are those of the authors and/or publishers. The Southcn.com website does not endorse information products posted by organizations and individuals here. The originators of these information products are solely responsible for their content.
For copyright infringement issues, you shall contact Southcn.com within thirty (30) days. Email: falv@southcn.com
If you find any error in this page, please drag your mouse to mark the text with error, then press "CTRL" and "ENTER", to inform us. Thanks for your help!
Home  |  About Us  |   Contact Us  |  Site Map  |  Chinese
©2005 WWW.NEWSGD.COM. All rights reserved.registered number 020074 Terms of Use | Advertise | ICP Certificate No.B2-20050252
Guangdong Gov Link
Guangdong Gov Brief
State Structure
Guangdong in Brief
Laws & Regulations
Exchange Rate
Guangdong Guide
   
Museum Museum
University University
Eat Eat
Shopping Duting
Night Life Night Life
Weather Weather
Phone No. Phone Num
Consulate Consulate
Airport Airport
Travel Tips Tours Tips