Yuan at end 2007 seen up 9-10 pct over pre-revaluation level - commerce ministry |
|
|
|
Published
:
Mon, 15 Jan 2007 05:32
|
BEIJING (XFN-ASIA) - The Ministry of Commerce expects the yuan to rise a further 4-5 pct this year, ending 2007 at about 9-10 pct higher to the US dollar than before it was revalued in July 2005.However the ministry, in a research report published on its website, did not make it clear whether its year end projection includes the yuan's appreciation of 2.1 pct in July 2005, or not.On July 21, 2005, China freed the yuan from its longstanding peg to the dollar in favor of a trade-weighted basket of currencies, and allowed the local unit to appreciate 2.1 pct.'The yuan exchange rate faces relatively big appreciation pressure in the future...but the pace of appreciation will be within a range controlled by the central bank and should not hurt the country's economic development,' the report said.bjburo@xfn.com
|
|
|
|
|
|
|
| Stock
Quotes * |
|
NASDAQ
|
|
1423.08 |
+25.01 (
1.76 %)
|
| SYMBOL (
2008-12-02 ) |
| LAST |
CHANGE
|
|
CARNIVAL
(
11:35am )
|
|
1347.00 |
+51.00 (
4.02 %)
|
| SYMBOL (
2008-12-02 )
|
| LAST |
CHANGE
|
| SYMBOL (
2008-12-02 )
|
| LAST |
CHANGE
|
|
|
Print this Story
China top 100 IT companies 11 mths core revenue 940.8 bln yuan, up 16 pct 