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

Yuan depreciation spurs foreign exchange boom

By CHEN JIA (China Daily) Updated: 2016-01-12 07:46

Yuan depreciation spurs foreign exchange boom

US dollar and Yuan notes are seen in this picture illustration taken at the Korea Exchange Bank in Seoul in this November 10, 2010 file photo.[Photo/Agencies]

The renminbi's fall to a five-year low against the US dollar has triggered a currency exchange boom on the Chinese mainland, forcing the regulator to strengthen intervention to ease capital outflow pressure.

An increasing number of people have been asking banks to change the Chinese currency into dollars, Guangzhou Daily reported on Monday.

Since last week, they have also been buying more foreign currency-denominated financial products, with most using up their annual currency exchange quota, the report said.

According to the State Administration of Foreign Exchange, the country's top foreign exchange regulator, mainlanders can each exchange renminbi for a maximum amount of $50,000 annually, or the equivalent in other foreign currencies.

Another Guangzhou-based newspaper, Nanfang Metropolis Daily, reported that the regulator has given guidance to mainland banks on controlling their dollar supplies. Employees have also been told not to suggest foreign exchange products to clients.

The renminbi traded on the Shanghai-based China Foreign Exchange Trade System has fallen by more than 1.5 percent against the dollar in the past week.

This is the largest weekly decline since August 11 last year when the People's Bank of China, the central bank, announced a foreign exchange rate reform.

Market watchers are speculating that the bank may tolerate faster depreciation of the renminbi and introduce a more flexible foreign exchange policy this year.

Guan Tao, a former official with the regulator, said the rush to sell the renminbi will increase capital outflow pressure and lead to more irrational activities in the market.

On Monday, the central bank stabilized the daily reference rate of the renminbi, which restricts onshore movements to a maximum rise or fall of 2 percent, at 6.5626 renminbi per dollar.

This compares with the multiyear low of 6.5646 on Thursday that triggered a halt to trading in onshore equity markets for two days last week.

A report by Xinhua News Agency said there is no need for the majority of households to exchange the Chinese currency for dollars to preserve the asset value, as the renminbi is unlikely to fall sharply. The return on renminbi-denominated investment products is also still higher than on US dollar-denominated ones.

Regulator names new head

People's Bank of China Deputy Governor Pan Gongsheng is to replace Yi Gang as head of the State Administration of Foreign Exchange, while also retaining his post at the central bank, the currency regulator said in a statement.

It said the regulator will proceed with plans to make the yuan convertible "in an orderly fashion" and will tackle violations of foreign-currency regulations.

China has "relatively abundant foreign-exchange reserves", it said.

Pan previously worked at Agricultural Bank of China and before this held a number of positions at Industrial and Commercial Bank of China, the nation's largest lender.

Yuan depreciation spurs foreign exchange boom

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 国产精品久久久精品 | 国产精品v亚洲精品v日韩精品 | 国产不卡在线 | 日本成人午夜 | 丁香婷婷网 | 肉色超薄丝袜脚交69xx | 日本免费三片免费观看 | 婷婷丁香久久 | 韩国三级av| 日本中文字幕在线免费观看 | 国产又大| 四虎少妇做爰免费视频网站四 | 国产尤物在线播放 | av美女网站| av成人在线看 | 成人深夜网站 | 黄色片视频免费 | 少妇精品偷拍高潮白浆 | 欧美另类专区 | 午夜网| 97香蕉久久夜色精品国产 | 亚洲欧美另类一区 | 天堂av官网 | 麻豆自拍视频 | 国产三级三级在线观看 | 青青操免费在线视频 | 欧美极品一区二区三区 | 亚洲两性视频 | 欧美一级日韩一级 | 欧美日韩国产不卡 | 少妇综合网 | 国产免费高清 | 91黄色大片 | 不卡视频一区二区三区 | 欧美猛男孕妇 | 四虎成人在线观看 | 色黄大色黄女片免费中国 | 国产精品第三页 | 亚洲男人天堂视频 | 久久久久免费视频 | 成人免费视频国产免费麻豆 |