Arab Today, arab today yuan weakens again amid new qe stance
Last Updated : GMT 21:34:37
Arab Today, arab today
Arab Today, arab today

Yuan weakens again amid new QE stance

Arab Today, arab today

Arab Today, arab today Yuan weakens again amid new QE stance

Beijing - XINHUA

The central parity rate of the Chinese currency renminbi, or the yuan, on Friday depreciated for a fourth straight day against the U.S. dollar to its weakest point in more than four months. The yuan weakened 15 basis points to 6.1475 against the U.S. dollar on Friday, according to the China Foreign Exchange Trading System. Experts attributed the yuan's decline mostly to the new U.S. stance on its QE policy. Federal Reserve Chair Janet Yellen said on Wednesday that the Fed will probably end its massive bond-buying program this fall, and could start raising interest rates around six months later. Wang Hongying, deputy head of China International Futures Co., Ltd., said the Federal Reserves' policy change indicates that the United States has achieved substantial recovery in its real economy, which means the greenback is poised to enter an appreciating cycle. "The accelerated reflux of U.S. dollars is likely to quicken the depreciating trend of the yuan in the short term, although the risk is controllable," Wang added. This came after the People's Bank of China, the central bank, widened the yuan's daily trading band in the interbank spot exchange market from 1 percent to 2 percent on Monday. The move is aimed at enhancing the exchange rate's floating flexibility, facilitating its economic restructuring and beefing up the market's decisive role in allocating resources, the central bank said. Xie Yaxuan, an analyst at China Merchants Securities, expects the yuan to face the first major test after the band-widening, highlighting Yellen's new wording on the possibility of raising interest rates. However, the depreciation of the yuan might just be short-term and is unlikely to have a major impact on China's international trade and real economy, according to Wang. The yuan exchange rate fluctuations might also serve as a silver lining for Chinese companies and banks, encouraging them to be more proactive in managing exchange rate risks, the official added. The yuan's value came under the spotlight as its exchange rate against the U.S. dollar declined 0.4 percent in the first two months this year, a period in which the country also saw a shrinking trade surplus. From the launch of the yuan's exchange rate reform in 2005 to the end of last year, the currency appreciated by 35.75 percent against the U.S. dollar, resulting in the currency's "effective" exchange rate rising 42.21 percent, official data showed.

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 yuan weakens again amid new qe stance Arab Today, arab today yuan weakens again amid new qe stance

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 05:18 2017 Wednesday ,22 February

Chinese PM: US should avoid ‘trade war,’

GMT 20:59 2017 Tuesday ,21 February

Economy good, but homes in German cities overpriced

GMT 05:29 2017 Tuesday ,21 February

Sovereign funds pulled $38bn from markets in 2016

GMT 05:15 2017 Tuesday ,21 February

Gold firms as markets await Trump tax plans

GMT 04:58 2017 Tuesday ,21 February

EU, IMF in ‘common position’ on Greece crisis

GMT 14:57 2017 Monday ,20 February

A giant initial public offering on track
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
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