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 tumbles to five-year low against US dollar

By Chen Jia (China Daily) Updated: 2016-01-05 07:21

Chinese yuan tumbles to five-year low against US dollar

Signs of China's renminbi or yuan and US dollar are seen outside at a foreign exchange store in Shanghai, China, August 14, 2015.[Photo/Agencies]

The renminbi fell to a five-year low against the US dollar on Monday after statistics indicated weaker-than-expected Chinese economic growth momentum in December.

The People's Bank of China, the central bank, cut its daily reference rate by 0.15 percent to 6.5032 yuan to the dollar, the weakest level since May 2011.

In Shanghai, the Chinese currency, which is allowed to diverge from a central bank fixing by a maximum of 2 percent, retreated by 0.25 percent to 6.5097, according to China Foreign Exchange Trade System.

Offshore, the currency's spot rate on the Hong Kong foreign exchange market fell to 6.6108 to the dollar at one stage.

China's December manufacturing purchasing managers index rose to 49.7 from 49.6 in November, less than the market forecast of 49.8. It has been under 50 for five straight months, suggesting a persistent contraction in the sector.

Paul Mackel, global head of emerging markets foreign exchange strategy at HSBC Holdings, predicted that the renminbi will fall further in 2016 to about 6.70 to the dollar by the end of the year.

"In the near-term, there could be stronger US dollar demand against the renminbi, as the latter's depreciation expectations will remain," he said.

"While we expect China's foreign exchange policy to become less resistant to the renminbi's weakness over the comingyear, the risk is that this happens sooner rather than later."

In December, the renminbi lost nearly 2 percent against the dollar.

The fall came as China's top foreign exchange regulator said it would further reduce intervention after the renminbi's inclusion in the International Monetary Fund's Special Drawing Rights basket, making it a global reserve currency.

China Foreign Exchange Trade System also introduced a new index to gauge the renminbi's value against a basket of 13 currencies.

Analysts said this highlights a policy preference for a more independent currency, and the policy is gradually moving toward a freely floating foreign exchange regime.

Liu Ligang, chief China economist at Australia & New Zealand Banking Group, said a weaker renminbi may increase capital flows out of China and "sweep away" liquidity in the financial sector.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 欧美日本日韩 | 久久不卡一区 | 欧美亚韩一区二区三区 | 天堂网av在线 | 亚洲色图25p | 8x8x华人在线观看 | 欧美三级视频网站 | 九九热在线免费视频 | 中文字幕av网址 | 日韩拍拍拍 | 国产女人高潮毛片 | 九九热精品视频在线播放 | 中文字幕色站 | 中文第一页 | 成年人免费网站在线观看 | 老女人av| 国产精华一区二区三区 | 日韩欧美大片在线观看 | 一个人看的www在线视频 | 91香蕉在线观看 | 欧美日韩国产在线一区 | 亚洲国产无 | 91国产丝袜播放在线 | www.欧美com| 欧美午夜久久 | 亚洲欧美在线视频 | 成人午夜视频精品一区 | 草草影院欧美 | 狠狠综合 | www.亚洲在线| 九九综合视频 | 精品久久免费视频 | 久久久久久一区二区三区 | av男人天堂网 | 色视频网站在线观看 | 加勒比久久综合 | 欧美日韩精品一区二区三区四区 | 日日爽爽 | 97超级碰 | 久操91| 国产精品久久777777毛茸茸 |