久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

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: 香港三级日本三级人妇三级四 | 在线观看毛片网站 | 欧美一级毛片一级 | 久久久www免费看片 久久久www免费人成看片 | 日本卡一卡2卡3卡4精品卡无人区 | 在线看免费观看韩国特黄一级 | 国产精品毛片 | 亚洲成人在线播放视频 | 最新国产毛片 | 男人天堂网2022 | 99r精品在线 | 欧美精品高清 | 亚洲国产小视频 | 亚洲第一成年免费网站 | 亚洲一区在线免费观看 | 欧美一级毛片免费看 | 亚洲精品综合一区二区 | 久草免费资源 | 国产区一区二区三 | 日本在线免费视频 | 波多野结衣一区二区三区高清在线 | 成年人视频在线免费 | 521av香蕉 | 日韩v在线 | 国产精品一区二区久久精品 | 久久精品高清 | 国产一级一片免费播放视频 | 亚洲一区二区三区不卡在线播放 | 亚洲性在线观看 | 看一级毛片一区二区三区免费 | 国内精品伊人久久久久妇 | 成人性色大片 | 97操碰 | 国产精品日本一区二区不卡视频 | 成年人在线网站 | 高清精品一区二区三区一区 | 香蕉视频911 | 国产欧美va欧美va香蕉在线 | 欧美大片欧美毛片大片 | 亚州欧美 | 99久久精品免费看国产一区二区 |