www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

  Home>News Center>China
       
 

Rate measures to help banks reduce risks
By Zhang Dingmin (China Daily)
Updated: 2005-09-26 05:29

The latest adjustments to China's exchange rate system announced on Friday will give banks more pricing flexibility and help reduce speculation in the marketplace, the central bank said yesterday.

People's Bank of China Governor Zhou Xiaochuan (L) and Finance Minister Jin Renqing attend the annual meeting of the World Bank and International Monetary Fund in Washington September 24, 2005. [Xinhua]
People's Bank of China Governor Zhou Xiaochuan (L) and Finance Minister Jin Renqing attend the annual meeting of the World Bank and International Monetary Fund in Washington September 24, 2005. [Xinhua]
The measures, following the nation's reform move on July 21 to adopt a managed floating exchange rate system with reference to a currency basket, "will serve to further increase the banks' capability in setting prices and effectively controlling price risks, foster fair and orderly competition among the banks and improve financial services," a spokesman with the People's Bank of China said yesterday.

Last Friday, the band of renminbi exchange rate against non-US dollar currencies in the spot foreign exchange market was widened from 1.5 per cent to 3 per cent around the central parity, which the central bank said will help commercial banks avoid losses that might happen under previous arrangements.

But the central bank kept the floating band for renminbi against the US dollar unchanged, saying it reflects the high liquidity of the currency, in which 80 per cent of China's foreign trade transactions are settled.

Commercial banks were also given a broader range between their buying and selling rates for the US dollar when trading with clients, which the central bank said will increase the trading costs for speculators and therefore help maintain the stability of the market.

The measures will promote the effective adjustment of the renminbi exchange rate based on market supply and demand with reference to a basket of currencies, and strengthen the fundamental role of the market in price finding and risk aversion, the central bank said.

"Appropriate enlargement of the spread between the selling and buying prices of the US dollar quoted by the banks to their customers may increase the transaction cost of the speculators, thus helping maintain the basic stability of the renminbi exchange rate," the spokesman added.

On July 21, China allowed its currency, known as the yuan or renminbi, to appreciate by 2.1 per cent against the US dollar and started linking its currency to a basket of foreign currencies instead of the US dollar only.

Under that system, the yuan was allowed to rise or fall 0.3 per cent against the dollar and a wider 1.5 per cent against non-dollar currencies, such as the yen and the euro, in the interbank market.
Page: 12



Paramilitary troops training
Yichang Three Gorges International Tourism Festival
Beijing International Cultural and Tourism Festival
  Today's Top News     Top China News
 

Rate measures to help banks reduce risks

 

   
 

HK legislators start historic mainland visit

 

   
 

Damrey smashes into South China

 

   
 

China Open: Chinese duo fail to make history

 

   
 

Rita's destruction falls short of fears

 

   
 

China, India set for fresh border talks

 

   
  China, India set for fresh border talks
   
  China pursuing independent approach to currency reforms
   
  Rural insurance urged for aged people
   
  Macao chief calls for more participation in legislative poll
   
  HK legislators visit Pearl River Delta
   
  2006 forum on traditional medicines to be held in Beijing
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 国产短视频精品一区二区三区 | 国产亚洲欧美在线视频 | 欧美亚洲国产片在线观看 | 一区二区伦理 | 久久看视频 | 亚洲日本一区二区三区 | 亚洲aa视频| 九九精彩视频在线观看视频 | 久久成人精品视频 | 成人全黄三级视频在线观看 | 国产精品黄网站免费观看 | 国产日本韩国不卡在线视频 | 亚洲精品不卡在线 | 男女视频在线免费观看 | 午夜综合 | 国产自在自线午夜精品视频 | 亚洲综合一区二区三区 | 一色屋成人免费精品网站 | 日本精品国产 | 免费观看三级毛片 | 日韩国产片 | 国产特黄特色一级特色大片 | 国产三级国产精品国产国在线观看 | 国产精品久久久久久久久久日本 | 国产99久久 | 51国产偷自视频区视频手机播器 | 久99频这里只精品23热 视频 | 波多野结衣免费观看视频 | 大看蕉a在线观看 | 中文无码日韩欧免费视频 | 国产精品午夜免费观看网站 | 亚洲一区在线免费观看 | 18视频免费网站 | 欧美国产伦久久久久 | 日本美女作爱 | 韩国美女激情视频一区二区 | 亚洲国产最新 | 国产精品久久久精品三级 | 毛片在线免费观看网站 | 日韩一区二区三区四区不卡 | 国内黄色一级精品 |