Arab Today, arab today imf welcomes chinas move to improve forex formation system
Last Updated : GMT 22:58:51
Arab Today, arab today
Arab Today, arab today

IMF welcomes China's move to improve forex formation system

Arab Today, arab today

Arab Today, arab today IMF welcomes China's move to improve forex formation system

china yuan
Beijing - XINHUA

The International Monetary Fund (IMF) welcomed China's move to improve its foreign exchange formation system and said a more market-oriented exchange rate would facilitate its market opening and flexibility.

According to an IMF statement on Tuesday, the new mechanism for determining the central parity of the RMB announced by the People's Bank of China (PBOC) appears a welcome step as it should allow market forces to have a greater role in determining the exchange rate.

The IMF argued that greater exchange rate flexibility is important for China as it strives to give market forces a decisive role in the economy and is rapidly integrating into global financial markets.

In addition, it believed China has the ability to achieve an effectively floating exchange rate system within two or three years.

The PBOC said the RMB's central parity has deviated from its actual market rate "by a large extent and for a long duration," therefore, the latest move could help bridge the previously accumulated differences between the central parity rate and the market rate.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today imf welcomes chinas move to improve forex formation system Arab Today, arab today imf welcomes chinas move to improve forex formation system

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today imf welcomes chinas move to improve forex formation system Arab Today, arab today imf welcomes chinas move to improve forex formation system

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday