www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Markets

Foreign exchange reforms to result in greater yuan swings

By Chen Jia (China Daily) Updated: 2015-12-25 10:32

Foreign exchange reforms to result in greater yuan swings

An employee counts yuan banknotes at a bank in Huaibei, Anhui province June 22, 2010.[Photo/Agencies]

Traders 'must accept' increased volatility with further opening of foreign exchange markets

One of the country's leading economists is predicting the Chinese currency will experience ongoing fluctuations as the interbank foreign exchange market opens further to more diversified overseas investors.

Liang Hong, chief economist at China International Capital Corporation, said on Thursday she expected opportunities to open up in the market for foreign financial institutions that specialize in foreign exchange trading and cross-border businesses.

Her comments came as the People's Bank of China, the country's central bank, announced it planned further opening of the onshore interbank foreign exchange market to qualified outboard financial institutions, once they had registered as members of the China Foreign Exchange Trade System.

Foreign members will be able to trade in all products listed on the system, including the yuan's spot exchange, and the forward, swap and options exchanges, according to a statement on the PBOC's website. "The move is likely to accelerate trading volumes in the onshore interbank foreign exchange market," the CICC economist said.

"Traders can expect larger volatility in the future, and will need to take measures to hedge risks. The previous 'one-way' appreciation or depreciation will become 'two-way' fluctuations."

The central bank also announced that trading hours for the yuan, which now close at 4.30 pm Beijing time, will be extended to 11.30 pm from Jan 4.

The opening will remain unchanged at 9:30 am, and the daily yuan closing price will be fixed at its spot exchange rate against the US dollar, at 4:30 pm.

On Aug 11, the central bank announced changes to how it sets the daily fixing exchange rate against the US dollar, allowing market makers to submit prices in reference to the previous day's yuan close, foreign exchange demand and supply, as well as changes in major currency rates.

The closing price is an important reference for market makers or big foreign exchange traders in the China Foreign Exchange Trade System the next day.

The spot exchange rate of the yuan is now allowed to fluctuate a maximum 2 percent up or down from the daily fixing exchange rate.

"Extending the trading time is an important reform to open up the currency market to foreign participants, and it will help remove the difference in the yuan's prices in onshore and offshore markets," the PBOC statement said.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 国产成人精品免费视频大 | 成人黄网大全在线观看 | 欧美性色生活片免费播放 | 亚洲视频在线视频 | 欧美男人天堂 | 午夜精品久视频在线观看 | 亚洲 [12p] | 亚洲精品一区二三区在线观看 | 久久99国产精品久久99 | 亚洲一区二区三区91 | 亚洲日本久久一区二区va | 91大神大战丝袜美女在线观看 | 爱福利极品盛宴 | 欧美视频不卡 | 欧美手机在线视频 | 久久久青草 | 91原创视频在线观看 | 九九色视频 | www久久| 色黄啪啪18周岁以下禁止观看 | 全部孕妇毛片丰满孕妇孕交 | 欧美色性| 韩日一级视频 | 国产三级精品播放 | 在线播放亚洲精品 | 99热久久精品国产 | 欧美私人网站 | 50岁老女人毛片一级亚洲 | 色综合色狠狠天天久久婷婷基地 | 成年人看的免费视频 | 国产日韩欧美另类 | 在线亚洲精品中文字幕美乳 | 三级毛片免费观看 | 一区二区伦理 | 日韩特黄特色大片免费视频 | 日本免费www | 精品久久中文字幕有码 | 国产高清在线精品免费 | 中文字幕咪咪网 | 欧美一级毛级毛片 | 欧美一级日本一级韩国一级 |