日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

US EUROPE AFRICA ASIA 中文
Business / Markets

Chinese yuan extends sharp fall, long-term depreciation unlikely

(Xinhua) Updated: 2015-08-12 13:36

Chinese yuan extends sharp fall, long-term depreciation unlikely

Photo taken on March 16, 2014, shows yuan (central) and other currencies in the picture. [Photo/IC]

BEIJING - Chinese currency continued to fall on Wednesday after the central bank reformed the exchange rate formation system to better reflect the market.

The central parity rate of renminbi, or yuan, weakened by 1,008 basis points, or 1.6 percent, to 6.3306 against the US dollar, narrowing from Tuesday's 2 percent, according to the China Foreign Exchange Trading System.

The People's Bank of China (PBOC), the central bank, changed the exchange rate formation system so that it takes into consideration the closing rate of the inter-bank foreign exchange market on the previous day, supply and demand in the market and price movement of major currencies.

The International Monetary Fund (IMF) described the central bank's move as "a welcome step" that allows market forces to have a greater role in determining the exchange rate.

"Greater exchange rate flexibility is important for China as it strives to give market-forces a decisive role in the economy and is rapidly integrating into global financial markets," an IMF spokesperson said in an email on Wednesday.

The IMF said it believes the country can achieve an effective floating exchange rate system within two or three years.

However, the move still surprised the market and prompted the lowest valuation of the yuan since October 2012.

Ma Jun, chief economist at the PBOC's research bureau, attributed the lower rate to a long-standing gap between the central parity rate and the previous day's closing rate on the inter-bank market.

In a latest statement released on Wednesday, the PBOC said the rate changes are normal, as it shows a more market-based system and the decisive role that the supply-demand relationship plays in determining the exchange rate.

"This may lead to potentially significant fluctuations in the short run but after a short period of adaptation the intra-day exchange rate movements and resulting central parity fluctuations will converge to a reasonably stable zone," the PBOC said.

Ma also said the shift is a one-off technical correction and should not be interpreted as an indicator of future depreciation.

A relatively robust economy, current account surplus and the internationalization of the yuan will help the currency remain stable, the PBOC said.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 欧美做受高潮1 | 国产超碰在线 | 亚洲国产视频在线 | 亚洲人在线观看 | 日本免费黄色大片 | 97视频在线观看免费 | 国产三级a | 青青在线视频 | 欧美手机在线视频 | 亚洲 欧美 精品 | 黄网站在线免费看 | 欧美jizz | 911精品| 精品免费国产 | 日韩精品播放 | 国产精品乱码一区二三区小蝌蚪 | 国产夫绿帽单男3p精品视频 | 久久精品国产77777蜜臀 | 欧美三级在线视频 | 日本一区视频在线观看 | 亚洲精品久久久久久久久久久 | 久久久久久成人 | 亚洲日本va | 91资源在线| aav在线| 日韩国产一区 | 粉色午夜视频 | 日韩三级久久久 | 在线激情网 | 青青草激情视频 | 中文字幕视频免费 | 18岁成人在线观看 | 99精品一区 | aa黄色大片 | 久久天天综合 | www欧美精品 | 69久久久久 | 91av亚洲 | 欧美极品另类 | 99精品视频在线 | 国产区一区二 |