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

Yuan drops to five-year low against US dollar

By Wang Yanfei (China Daily) Updated: 2016-06-02 08:16

Yuan drops to five-year low against US dollar

A photo illustration shows a $100 banknote placed above Chinese 100 yuan banknotes in Beijing in this May 10, 2013 file photo. [Photo/Agencies]

Economists are debating the implications of the yuan falling to its lowest level against the US dollar for five years.

The Chinese currency dropped from 6.549 to the dollar on Friday to 6.589 on Wednesday.

The yuan-dollar rate has been in the spotlight since US Federal Reserve Chairwoman Janet Yellen said last week that higher interest rates would be "appropriate" in coming months.

Yuan drops to five-year low against US dollar

Lian Ping, chief economist at the Bank of Communications, said the downward pressure may continue to mount in coming weeks, but added, "Compared with other new economies, the depreciation of the yuan is not that significant."

A drastic and long-term cut in the currency's value is unlikely, Lian added.

Cao Yuanzheng, chief economist at Bank of China, said US interest rates will not see a major increase and the yuan will not "continue a process of depreciation".

"People will need more data to tell if the recovery in the United States is strong enough," Cao said.

If US interest rates rise, this will have some short-term influence on China and the Chinese capital market, but "won't leave lasting pain".

Cao said that if changes in the US result in a serious capital flight, the Chinese government does not lack self-protection measures.

Gao Huiqing, an economist at the State Information Center, said that although he expects the yuan to depreciate further in the next two weeks, worries over its long-term depreciation are unwarranted.

"The Chinese central bank is determined to keep the yuan stable. Our reform will go on. Our economy will continue to grow. The likelihood of a major change in China's exchange market is highly unlikely," Gao said.

Regarding the policy tools that China may use to cope with a major capital flight, it is too early to make a prediction, Gao added. Judging from the situation now, "it is obvious that the People's Bank of China has no intention to take further steps".

"Some capital outflows are normal. They're not as intimidating as some people think," Gao said.

Zhao Yang, chief China economist at Nomura, said, "There might be more domestic capital, especially from the private sector, flowing to foreign countries, but the extent will remain small.

"Capital outflows are seeking a new balancing point at a time when China is restructuring, and have yet to hit bottom."

Zhao added that downward pressure will not be as significant as last year, when the People's Bank of China adjusted the range of the yuan's reference rate against the dollar in August that led to an estimated $1 trillion in annual capital outflows.

In the long run, the yuan exchange rate will be stable, Zhao said.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 成人在线网 | 久99频这里只精品23热 视频 | 日本 欧美 国产 | 国产真实生活伦对白 | 香蕉久久久久久狠狠色 | 末成年娇小性色xxxxx | 欧美亚洲午夜 | 欧美国产日韩在线观看 | 九九九精品视频 | 中文国产成人精品少久久 | 国产一区二区在线播放 | 曰韩一级| 日本手机看片 | 18lxxlxx日本 | 国产夫妇肉麻对白 | 97dyy影院理论片 | 亚洲国产精品综合欧美 | 国产美女一区二区 | 日韩亚洲精品不卡在线 | 综合久久一区二区三区 | 日本三级韩国三级在线观看a级 | 亚洲免费观看在线视频 | 99久久在线 | 国产日韩欧美三级 | 99久久精品免费看国产免费 | 欧美日韩亚洲综合在线一区二区 | 99亚洲精品 | 中文字幕成人免费高清在线 | 性夜黄a爽爽免费视频国产 性夜影院爽黄a爽免费看网站 | 在线观看亚洲精品专区 | 午夜免费毛片 | a级片在线观看视频 | 欧美黄色免费 | 亚洲欧美在线视频免费 | a毛片免费观看完整 | 亚洲欧美男人天堂 | 国产亚洲精品久久久久久午夜 | 色手机在线 | 美女又黄又免费的视频 | 亚洲高清无在码在线无弹窗 | 国产一久久香蕉国产线看观看 |