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

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Yuan hits 5-month peak vs US dollar

By Chen Jia and Zhou Lanxu | China Daily | Updated: 2019-01-12 07:03
Share
Share - WeChat
The yuan's onshore spot exchange rate hit 6.7425 per dollar, a gain of nearly 0.6 percent, during Friday's trading. [Photo/VCG]

China's yuan strengthened to a five-month high against the US dollar on Friday, the largest weekly gain in 14 years thanks to a weakening greenback and positive signals from Sino-US trade talks that concluded on Wednesday.

Within the week, the onshore-traded yuan appreciated more than 1.7 percent against the dollar, the best weekly performance since China shifted to a managed floating exchange rate regime in 2005.

The yuan's onshore spot exchange rate hit 6.7425 per dollar, a gain of nearly 0.6 percent, during Friday's trading. It was the strongest level since late July. The daily trading reference, or central parity rate, was 6.7909 per dollar, around which a 2 percent floating range was allowed, according to the China Foreign Exchange Trade System.

The offshore yuan, which can float freely, without limit, appreciated to 6.7486 per dollar the same day.

The remarkable performance was mainly because of positive signals from Sino-US trade talks and the continually weakening US dollar, economists said, adding that the yuan's depreciation pressure could be further eased this year.

China and the United States have laid a foundation for addressing each other's concerns in the future, according to a statement released by the Ministry of Commerce on Thursday. The two sides agreed to continue to keep in close contact based on improved mutual understanding, it said.

The statement came after the latest round of vice-ministerial level trade talks between the two countries.

"Investors remain optimistic over more higher-level negotiations in the future to resolve (Sino-US) trade differences," said Lukman Otunuga, a research analyst at FXTM, a global foreign exchange platform.

"With the greenback weakening on expectations of the US Fed taking a break on interest rate hikes, this is seen supporting the yuan further," he said of the exchange rate movement.

Minutes from the US Federal Reserve's December policy meeting showed its caution on further rate rises. Fed Chairman Jerome Powell expressed a "patient" approach to monetary tightening, given the turbulent financial markets and rising concerns on global growth. The US dollar index, a gauge against a weighted basket of peer currencies, dropped about 0.75 percent to 95.18 after the minutes were released.

Cheng Shi, ICBC International's chief economist, said that China and other emerging markets will be more attractive for global investors in 2019, while the US stock market has entered a "correction phase", easing the pressure of capital outflows from China and contributing to a more stable yuan.

The stable foundation of China's economy and the monetary authority's latest messages on maintaining the yuan's exchange rate "at a reasonable equilibrium" can support a stable currency and ease some depreciation pressure, according to a research note from Northeast Securities.

"China has sufficient foreign exchange reserves, a low foreign debt level and various monetary policy tools that can consolidate the basis for the yuan's stability," the note said.

China's foreign exchange reserves rose by $11 billion in December to $3.07 trillion, after a rise of $8.6 billion in November, according to the State Administration of Foreign Exchange.

Top
BACK TO THE TOP
English
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
CLOSE
 
主站蜘蛛池模板: 国产免费人视频在线观看免费 | 国产精品videossex另类 | 欧美成人影院免费观 | 欧美特黄aaaaaaaa大片 | 新婚第一次一级毛片 | 亚洲天堂视频一区 | 欧美一级别 | 国产一级做a爰片在线看免费 | 国产精品亚洲二线在线播放 | 美女a毛片 | 久久不色 | 久久精品国产精品亚洲综合 | 国产在线观看午夜不卡 | 欧美一级毛片怡红院 | 成人性视频免费网站 | 中国一级做a爰片久久毛片 中日韩欧美一级毛片 | 男人天堂视频网站 | 97国产在线播放 | 久久久在线视频精品免费观看 | 手机看片日韩日韩 | 欧美一级黄视频 | 国产九九在线观看播放 | 国产高清一级视频在线观看 | 又黄又爽又刺激的视频 | 97se亚洲综合在线韩国专区福利 | 九九视频在线观看6 | 亚洲国产精品欧美日韩一区二区 | 国产2页 | 国产aaaaa一级毛片 | 亚洲综合干 | 亚洲欧美一区二区三区久本道 | 亚洲一级网站 | 国产成人亚洲综合网站不卡 | 精品91一区二区三区 | 可以免费观看欧美一级毛片 | 久久精品视频在线观看榴莲视频 | 一级女性全黄久久生活片 | 午夜丝袜美腿福利视频在线看 | 手机看片久久高清国产日韩 | 国产视频久 | 日本一级毛片视频无遮挡免费 |