综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

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

Yuan gains the most in 20 years vs US dollar

By WU YIYAO in Shanghai | China Daily | Updated: 2013-10-17 00:51

Yuan gains the most in 20 years vs US dollar

A clerk counts money at a bank in Ganyu, Jiangsu province. Yuan has appreciated 43 percent since a new exchange rate mechanism was implemented in 1994. SI WEI / FOR CHINA DAILY

Record high exchange rate comes amid impasse over US debt 

The yuan traded stronger than 6.10 per dollar for the first time in 20 years after the central bank raised its daily fixing rate to a near record high and the nation stepped up efforts to increase the Chinese currency's global use.

The yuan strengthened for three consecutive days and closed at a record high of 6.0995 against the US dollar in Shanghai on Wednesday amid the ongoing impasse over US debt talks, China Foreign Exchange Trade System prices showed.

It touched 6.0965 earlier, the strongest level since the government unified the official and market exchange rates at the end of 1993.

The last time the currency traded below 6.1 to the dollar was on Dec 27, 1993, when it was at 5.8245. It weakened to 8.7217 on Jan 6, 1994, after a new exchange rate mechanism was implemented. It has appreciated 43 percent since then. The yuan's moves are restricted to 1 percent on either side of the reference rate set every day by the People's Bank of China, the nation's central bank.

The central parity rate of the yuan against the US dollar advanced four basis points to 6.1408 on Wednesday, according to data from the central bank. The central parity rate of the yuan against the US dollar is based on a weighted average of prices before the opening of the market each business day.

Democratic and Republican leaders in the US Senate could announce a deal soon to extend the government's borrowing authority and quickly re-open federal agencies that have been closed since Oct 1, reported Reuters on Wednesday, citing a Senate aide.

Analysts said the price of the US dollar against the yuan may fluctuate because it will take time for the market to digest both the results of the US debt talks and possible continuous yuan appreciation.

"Many factors are affecting the foreign exchange market at the current time, including decision makers' stands toward the ongoing rising price of the yuan against the US dollar," said Zhou Yunxie, a foreign exchange analyst with Shanghai-based Zhongqing Gold Investment Co.

Previous 1 2 Next

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
 
米泉市| 安福县| 昭通市| 松江区| 普兰店市| 中江县| 洞口县| 武乡县| 抚州市| 耒阳市| 施甸县| 巴中市| 靖远县| 冕宁县| 鹤峰县| 收藏| 兴安县| 曲靖市| 公主岭市| 夹江县| 桃江县| 凤翔县| 罗田县| 邵阳市| 东丰县| 克拉玛依市| 曲麻莱县| 肥乡县| 舞阳县| 巴楚县| 哈尔滨市| 株洲县| 通河县| 宝清县| 韶山市| 墨江| 牡丹江市| 临安市| 鄂州市| 巧家县| 深圳市|