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

Central bank revises yuan-dollar rate

By CHEN JIA (China Daily) Updated: 2015-08-15 09:34

Central bank revises yuan-dollar rate

A man walks past an advertisement promoting renminbi, US dollar and euro exchange services at a foreign exchange store in Hong Kong. The daily reference rate for the Chinese currency was pegged at 6.3975 yuan per US dollar on Friday, compared with the four-year low rate of 6.4010 a day earlier. [Photo/China Daily]

The People's Bank of China, the central bank, raised the value of the yuan against the US dollar on Friday, the first increase after a three-day depreciation of more than 4 percent.

The daily reference rate for the Chinese currency was pegged at 6.3975 yuan per dollar, compared with the four-year low rate of 6.4010 a day earlier.

The move follows comments made by Yi Gang, vice-governor of the PBOC, on Thursday that the central bank would take necessary steps to stabilize the foreign exchange market.

According to data from the PBOC, China sold about $38.8 billion of foreign exchange last month, the highest on record, suggesting huge capital outflows and more depreciation pressure on the currency. Net foreign exchange sales in June was about $15.3 billion.

Persistent weakness in the yuan can have unintended consequences, experts said, by injecting fresh uncertainties into Asian currencies, or even affect the monetary policies of major economies.

Malaysia's ringgit plunged 2.8 percent against the US dollar on Friday, the largest drop since 1998. Turkey's lira weakened 0.5 percent. An index that tracks 20 emerging currencies declined 0.2 percent.

Market consternation arose after the PBOC announced on Monday a 1.86 percent decline of the yuan-to-dollar daily fixing, the sharpest since 1994. The drop continued for three consecutive days.

The depreciation was a result of a new regime used by the PBOC to set the reference rate according to market-oriented factors, which will correct the long-term misalignment of the yuan from its market equilibrium, said experts.

Teck Leng Tan and Dominic Schnider, analysts at the Swiss financial services firm UBS AG, wrote in a research note: "Given China's size in the Asia Pacific, the recent yuan decline will have broad repercussions for other regional currencies. We reiterate our negative stance on them versus the US dollar into the Federal Reserve rate hike cycle."

Daragh Maher, an economist at HSBC Holdings Plc, also warned: "All Asian policymakers should tread carefully with their foreign exchange policies and currencies at a time when the US Federal Reserve is seen as likely to raise rates and the risks of regional market contagion are high amid heightened nervousness."

The market also expected that the European Union and Japan may sustain its quantitative easing in the coming months, as the yuan changes may lead to weak demand in global markets and further slow their economic recovery.

"The change is a critical part of China's exchange rate reforms, rather than a macro-policy easing measure per se, but the announcement has nevertheless led to fears of a 'currency war' in the region," said Maher.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: www亚洲视频 | 亚洲天堂视频在线播放 | 欧美一级免费片 | 狠狠操在线| 国产精品成人国产乱一区 | 免费看黄色一级视频 | 日本中文字幕网 | 在线激情av | 灵与欲在线观看 | 在线观看免费黄色小视频 | 男人天堂网在线观看 | 成人a在线观看 | 中文字幕高清在线 | 可以免费在线观看的av | 亚洲va欧美va天堂v国产综合 | 欧美日韩国产在线一区 | 中文字幕在线视频一区 | 亚洲免费观看 | 国产日韩欧美精品在线 | 国产成人久久精品麻豆二区 | 午夜爱爱毛片xxxx视频免费看 | 青青草在线观看视频 | 日韩在观看线 | 欧美午夜一区二区 | 亚洲欧美激情精品一区二区 | 国产成人综合欧美精品久久 | 国产三级午夜理伦三级 | 丁香花五月婷婷 | 免费在线一区二区三区 | 激情第一页 | 不卡的日韩av | xxx久久久 | 可以看毛片的网站 | 国产传媒一区二区三区 | 成人午夜精品福利免费 | 日韩中文字幕视频在线观看 | 免费黄色小视频网站 | 国产精品一卡 | 精品福利在线 | 免费黄色高清视频 | 国产欧美网站 |