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: 一本久道久久综合婷婷五 | 中文字幕乱码系列免费 | 伊人色在线观看 | 欧美日韩在线视频不卡一区二区三区 | 日韩日韩日韩手机看片自拍 | 国产精品99久久久 | 国产亚洲影院 | 蘑菇午夜三级 | 欧美不卡一区二区三区 | 欧美一级大片在线观看 | 国产一区二区三区免费播放 | 成年人视频在线观看免费 | 美女视频黄色网址 | 黄色三级三级三级免费看 | 欧美午夜在线观看理论片 | 免费一级欧美大片久久网 | 午夜视频一区二区 | 高清色黄毛片一级毛片 | 亚洲成人在线免费视频 | 午夜免费成人 | 国产成人精品久久 | 欧美成人中文字幕 | 不卡午夜视频 | 欧美日韩性视频一区二区三区 | 国产视频网站在线观看 | 亚洲 中文 欧美 日韩 在线人 | 一区二区三区欧美视频 | 亚洲高清视频在线 | 男人操美女网站 | 国产亚洲精彩视频 | 亚洲视频男人的天堂 | 日韩精品一区二区在线观看 | 免费一级毛片在线播放不收费 | 国产精品v欧美精品v日本精 | 欧美一级毛片怡红院 | 亚洲日本在线观看网址 | 免费一区二区三区 | 在线视频一区二区三区在线播放 | 亚洲区精品| 精品国产一区二区三区久久 | 一级黄色录相片 |