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

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Yuan strengthens to fresh high against greenback

Xinhua | Updated: 2017-09-08 09:04

BEIJING - The Chinese currency strengthened against the US dollar Thursday to its highest level since May last year, with the dollar losing its luster as a safe haven investment, while experts believe the yuan will move in both ways in future.

The central parity rate of the Chinese renminbi, or the yuan, strengthened 42 basis points to 6.5269 against the US dollar Thursday, according to the China Foreign Exchange Trade System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

The yuan has appreciated by 6 percent in cumulative terms against the dollar since the beginning of the year.

The dollar index, which measures the greenback against a basket of six major rivals, fell to 92.227 overnight, as traders were astonished by Fed vice-chair Stanley Fischer's early departure.

Fischer, a veteran central banker who helped set the course for modern monetary policy, said on Wednesday he would step down mid October.

Meanwhile, the market was disappointed when Federal Reserve chair Janet Yellen carefully avoided any discussion of monetary policy in a speech last week.

Lingering concerns over tensions related to the Democratic People's Republic of Korea may limit the dollar's upside versus other major currencies, according to the CITIC Securities.

Experts said the yuan is also supported by a slew of upbeat economic data, which pointed to recent restructuring achievements and provided fresh signs of stabilization for the Chinese economy.

The country's manufacturing PMI has been in positive territory for thirteen consecutive months, with the economy expanding 6.9 percent during the first half of the year.

While the greenback is losing its luster, investors become increasingly confident in the Chinese currency.

"Since the key technology positions [of exchange rates] have been breached, investors who had bought excessive dollars scrambled to stop losses and the demand for exchange settlement is growing," said Li Liuyang with China Merchants Bank.

The Chinese yuan weakened against the US dollar to a six-year low in late 2016, triggering concerns over capital outflows. Market sentiment on the yuan has now changed and a strong yuan is likely to continue, traders said.

Cross-border capital flow has stabilized in the first half, and supply and demand in the forex market has reached the most balanced level in about three years, according to the State Administration of Foreign Exchange (SAFE).

The research team at DBS Bank has predicted that the Chinese currency will appreciate further driven by external factors and upbeat economic data, but due attention must be paid on the two "grey rhinos" -- the Fed's shrinking balance sheet and rate hikes.

The researchers suggested better risk management for yuan assets by keeping a close eye on the impact of the European and American markets, and pointed out a high correlation between the dollar index and the value of yuan.

"From a medium-term perspective, the yuan will not go through a unilateral rally, and the yuan-dollar exchange rate will probably achieve two-way fluctuations with improving flexibility." said Wang Xinjie with Standard Chartered Bank.

China has the world's largest currency reserve, which rose for a sixth month in July to hit $3.1 trillion, increasing $23.9 billion?from a month earlier, according to the central bank.

It was the first time since June 2014 that reserves have expanded for six straight months.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
 
主站蜘蛛池模板: 午夜性a一级毛片 | a免费毛片在线播放 | 国产永久高清免费动作片www | 日韩亚洲欧美在线 | 一级毛片在线不卡直接观看 | 亚洲国产成人久久综合野外 | 久cao在线观看视频 久爱免费观看在线网站 | 精品国产免费观看一区 | 亚洲天堂二区 | 波多野结衣在线观看一区 | 99精品视频在线视频免费观看 | 亚洲综合天堂 | 国产成人免费不卡在线观看 | 亚洲精品亚洲一区二区 | 男人看片网址 | 久久久免费网站 | 国产亚洲美女精品久久 | 亚洲综合日韩精品欧美综合区 | 精品久久精品久久 | 久久久久久久久久毛片精品美女 | 国产成人精品高清在线 | 国产成人久久精品麻豆二区 | 免费亚洲黄色 | 国产欧美日韩不卡一区二区三区 | 97在线视频免费公开观看 | youjizz日韩 | 青青青青爽视频在线播放 | 精品久久久久久乐 | 亚洲精品一区二区三区福利 | 亚洲国产欧美自拍 | 香蕉视频国产精品 | 女人被男人躁得好爽免费文 | 美女被男人cao的爽视频黄 | 日韩色在线| 欧美成人a级在线视频 | 日本九九视频 | 久久久全国免费视频 | 亚洲美女免费视频 | 国产在线爱做人成小视频 | 日本精品久久久久久久久免费 | 免费在线亚洲视频 |