男友太凶猛1v1高h,大地资源在线资源免费观看 ,人妻少妇精品视频二区,极度sm残忍bdsm变态

US EUROPE AFRICA ASIA 中文
Business / Economy

Economists expect yuan 'to continue falling against dollar'

By Chen Jia (China Daily) Updated: 2015-12-15 07:24

Economists expect yuan 'to continue falling against dollar'

A $100 banknote is placed next to 100 yuan banknotes in this October 16, 2010 file picture illustration taken in Beijing. [Photo/Agencies]

Economists expect the yuan to continue depreciating slightly against the dollar as the US Federal Reserve appears poised to raise interest rates for the first time since 2006.

Some even predict that the Chinese currency will fall gradually to about 6.5 to the US dollar by the end of this month, and perhaps drop to 6.7 next year.

The yuan fell to a four-year low of 6.4495 against the dollar on Monday, according to the China Foreign Exchange Trading System.

Since it was announced at the end of last month that the yuan would join the International Monetary Fund's Special Drawing Rights basket as one of five global reserve currencies, the yuan-dollar exchange rate has fallen by 0.83 percent.

The US Fed is scheduled to meet on Tuesday and Wednesday, when chairwoman Janet Yellen is expected to announce the interest rate increase, adding depreciation pressure to other currencies, especially those of emerging economies.

Ng Yew-Kwang, an economics professor at Nanyang Technological University in Singapore, said on Monday that the yuan's depreciation shows that many prices have been rising more rapidly in China than in the US.

"There is no longer a basis for a major rise in the yuan's value, nor a major fall," Ng said at the Netease Annual Economist Conference in Beijing.

Lin Caiyi, chief economist at Guotai Junan Securities, said that with falling exports and rising labor costs, realistic support for the yuan's appreciation has become "rather weak".

However, the People's Bank of China, the central bank, said in a statement that in the medium-to long-term, the yuan's exchange rate will remain stable at a reasonable level.

This is based on China's economic growth rate, which is the highest in the world, as well as on an increased desire to hold yuan-denominated assets after the currency's inclusion in the IMF's basket.

Paul Mackel, head of global emerging markets foreign exchange research at HSBC Holdings, said that to date the central bank's method of managing the yuan has been consistent with its eventual goal of achieving a "clean float" regime, or a market-denominated system.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 东乡| 定边县| 云阳县| 涞源县| 沈丘县| 昭苏县| 同江市| 岳西县| 太湖县| 秦皇岛市| 光泽县| 磴口县| 文化| 杂多县| 双柏县| 武鸣县| 永城市| 宿迁市| 周宁县| 福州市| 武川县| 两当县| 新兴县| 阳谷县| 包头市| 阆中市| 彭泽县| 泾川县| 诸城市| 西吉县| 许昌县| 偏关县| 宜阳县| 广水市| 闸北区| 新龙县| 航空| 泗阳县| 孟津县| 临泉县| 沂源县|