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

Foreign exchange reforms to result in greater yuan swings

By Chen Jia (China Daily) Updated: 2015-12-25 10:32

Foreign exchange reforms to result in greater yuan swings

An employee counts yuan banknotes at a bank in Huaibei, Anhui province June 22, 2010.[Photo/Agencies]

Traders 'must accept' increased volatility with further opening of foreign exchange markets

One of the country's leading economists is predicting the Chinese currency will experience ongoing fluctuations as the interbank foreign exchange market opens further to more diversified overseas investors.

Liang Hong, chief economist at China International Capital Corporation, said on Thursday she expected opportunities to open up in the market for foreign financial institutions that specialize in foreign exchange trading and cross-border businesses.

Her comments came as the People's Bank of China, the country's central bank, announced it planned further opening of the onshore interbank foreign exchange market to qualified outboard financial institutions, once they had registered as members of the China Foreign Exchange Trade System.

Foreign members will be able to trade in all products listed on the system, including the yuan's spot exchange, and the forward, swap and options exchanges, according to a statement on the PBOC's website. "The move is likely to accelerate trading volumes in the onshore interbank foreign exchange market," the CICC economist said.

"Traders can expect larger volatility in the future, and will need to take measures to hedge risks. The previous 'one-way' appreciation or depreciation will become 'two-way' fluctuations."

The central bank also announced that trading hours for the yuan, which now close at 4.30 pm Beijing time, will be extended to 11.30 pm from Jan 4.

The opening will remain unchanged at 9:30 am, and the daily yuan closing price will be fixed at its spot exchange rate against the US dollar, at 4:30 pm.

On Aug 11, the central bank announced changes to how it sets the daily fixing exchange rate against the US dollar, allowing market makers to submit prices in reference to the previous day's yuan close, foreign exchange demand and supply, as well as changes in major currency rates.

The closing price is an important reference for market makers or big foreign exchange traders in the China Foreign Exchange Trade System the next day.

The spot exchange rate of the yuan is now allowed to fluctuate a maximum 2 percent up or down from the daily fixing exchange rate.

"Extending the trading time is an important reform to open up the currency market to foreign participants, and it will help remove the difference in the yuan's prices in onshore and offshore markets," the PBOC statement said.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 久久不见久久见免费影院www日本 | 久久精品视频免费观看 | 国产免费一区二区三区 | 亚洲成人在线免费视频 | 欧美视频自拍偷拍 | 亚洲欧洲国产视频 | 香蕉视频911| 免费色网址 | 国产精品国产三级国产专播 | 国产精品亚洲第五区在线 | tubesexvideo日本护士 | 韩国精品视频在线观看 | 波多野结衣在线观看一区二区三区 | 久久久亚洲国产精品主播 | 久久国产视频一区 | 日美三级 | 韩国精品一区二区三区四区五区 | 久久国产视频一区 | 毛片一区 | 欧美xxxwww | 伊人国产在线视频 | 99视频在线国产 | 久久精品国产在爱久久 | 欧美日韩a级片 | 99久久99视频| 美女视频一区二区三区 | 国产高清在线精品一区在线 | 男人和女人的做刺激性视频 | 在线精品国产成人综合第一页 | 久久久久久久久久久久久久久久久 | 男人天堂男人天堂 | 欧美黄www免费 | 亚洲欧美日韩综合二区三区 | 国产成年网站v片在线观看 国产成人aa在线视频 | 黄色网址视频在线观看 | 成年人在线免费观看视频网站 | 欧美一级精品高清在线观看 | 亚洲国产成人久久综合区 | 欧美黄色免费网站 | 怡红院成人网 | 国产精品亚洲精品日韩已满 |