+
The
USD/CNY central parity during the intraday trading was 6.3319 on Dec. 8,
continuing the RMB’s depreciation against the USD.
+
So
far, the USD/CNY rate has hit the lower limit of its trading range for seven
consecutive days, which has not occurred since the reform of the Chinese
currency trading system in 2005.
+
An
official from the Ministry of Commerce commented on Dec. 7 that the continuous
decline of the RMB show that the Chinese government is not controlling the RMB
exchange rate, but that it is moved by market forces.
+ Related Data: Interbank
Market USD/CNY Exchange Rate
Interbank exchange rates reflect the
expectation for depreciation of RMB
For more data on currencies, please visit www.chinascopefinancial.com
Other News Headlines
n Sharp Decline in China’s Inflation Rate: CPI for Nov.
4.2% YoY
n USD/CNY Hits Lower Trading Limit for the Seventh
Consecutive Day
n Poor Performance in Securities Industry, Securities Firms
Cut Wages
n Corporate Bond at RMB 4.3 Trillion in 2010, Accounting
for 10% of GDP
n Zhejiang: Small Loan Companies Have Lent out Nearly
RMB 150 Billion in the Past Three Years
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