Barack Obama’s visit to China is difficult to make the appreciation of RMB
News on November 13, 2009: Affected by China’s third-quarter monetary policy report as well as the impact of the U.S. President Barack Obama’s visit to China, the recent appreciation of the renminbi is expected to heat up significantly. However, China’s official stance on maintaining exchange rate stability and continuous stabilize the yuan central parity are harbingers of the RMB exchange rate hardly any major fluctuations in the short term, so it will remain stable.
On Nov.13, yuan central parity against the U.S. dollar reported 6.8273, and it is flat to the central parity of 6.8268 U.S. Dollar on the 12th. Since July 21, 2005 to start the reform of the RMB exchange rate formation mechanism, Meeting the first year after reform, the RMB has appreciated against the U.S. dollar up 1.5%, the second and third years respectively 5.5% and 10.9%, the appreciation of the speed is picking up speed.
Domestic stock of bank funds, dealers said the recent appreciation of the RMB does the external pressure, but will not change China’s basic policy of maintaining exchange rate stability, the future of the yuan central parity against the U.S. dollar will continue to stabilize.
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“`
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