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Revaluation of Yuan Needed?
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We will be writing a worthy article talking about the need to revaluate the Chinese Yuan, however, for now, here is some more info abou the red hot Chinese economy.
The Chinese central bank has let the yuan rise less than 1.8 percent since depegging it from the dollar in July 2005, but many economists expect the pace of the climb to quicken given the tone of the bank's quarterly monetary report.
The central bank set the yuan's midpoint on Thursday at 7.9688 per dollar, up quite sharply from 7.9772 at Wednesday's close. It had edged up to 7.9663 by early afternoon.
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econmod
Broker
/ Moderator
Aug 10, 2006, 1:46 PM
Post #1 of 1
(662 views)
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