Yuan gains stall against firm dollar

THE yuan yesterday completed a third weekly loss on speculation China will favor a moderate pace of appreciation as industrial production grew at the slowest pace in six years on weaker export demand.

Gains in the currency, Asia’s best performer this year, stalled as the United States dollar index, which tracks the greenback against those of six trading partners, advanced 10 percent this quarter. Production rose 12.8 percent in August from a year earlier, the statistics bureau said yesterday, after gaining 14.7 percent in July, Bloomberg News reported. [Read more]

• Yuan’s climb so far exceeds last year (0)
• Yuan falls on talk pace of rise to slow (0)
• Recent Economic Facts on China’s Economy (0)
• China’s inflation cools at last (0)
• Yuan Falls Most in a Month as China Seeks to Curb `Hot Money’ (0)
• Yuan falls against U.S. dollar for 11 straight days (0)
• Strong greenback hits yuan (0)
• China’s trade surplus falls more than 11% in H1 (0)
• Yuan Starts Making Exports Cheaper (0)
• Timeline of China’s fiscal and monetary policy since 1995 (0)

Strong greenback hits yuan

THE yuan ended weaker last week but foreign exchange dealers viewed the drop not so much as a change in China’s currency stance but more on a stronger United States dollar.

The Chinese currency ended at 6.8422 against the US dollar last Friday, weaker than 6.8350 a week earlier, according to the China Foreign Exchange Trade System.

It appeared that the Chinese authorities have changed their currency stance, maybe to address complaints by exporters who blame the stronger yuan for their business slowdown.

However, it was not the case, as shown in the yuan against the euro. The yuan has added almost 10 percent against the euro since the start of July. The market said the stronger greenback may be a reason for the yuan’s weakening.

Source: Shanghai Daily

• Yuan gains stall against firm dollar (0)
• Yuan falls against U.S. dollar for 11 straight days (0)
• Yuan’s climb so far exceeds last year (0)
• Yuan Starts Making Exports Cheaper (0)
• Yuan falls on talk pace of rise to slow (0)
• Rise of yuan – where now for China’s currency? (0)
• China’s yuan hits another new high against U.S. dollar (0)
• Yuan set to regain strength (0)
• Yuan Falls Most in a Month as China Seeks to Curb `Hot Money’ (0)
• Timeline of China’s fiscal and monetary policy since 1995 (0)

« Previous Page