China's currency, the yuan, Friday hit a new high against the U.S. dollar for the second consecutive day, smashing the 7.4-yuan mark, according to the Chinese Foreign Exchange Trading System.
The central parity rate of the yuan, also known as Renminbi (RMB), stood at 7.3992 yuan to one U.S. dollar on Friday, gaining 127 basis points from Thursday's reference rate of 7.4119.
It is the 73rd time since the beginning of this year that RMB reached a new high against the U.S. dollar. It climbed 4,095 basis points, or more than 5.35 percent, from 7.8087 yuan to one U.S. dollar posted on the last trading day of 2006.
The accumulative appreciation since July 21, 2005, when China discontinued yuan's peg to the greenback, has been around 9.4 percent.
Last Sunday, China's central bank governor Zhou Xiaochuan said if necessary, the nation will consider widening the yuan's trading band.
But any change in the yuan's floating band will depend on the global economic situation and it's not the only tool the country would use to make its currency more flexible, Zhou said at the Group of 20 meeting in Cape Town, South Africa.
China widened the yuan's daily trading band against the U.S. dollar from plus or minus 0.3 percent to 0.5 percent in May.
However, market observers said some commercial banks are ordered by the central bank to hand in reserve requirements in foreign currencies next week, which will translate into demand for the U.S. dollar. This will somehow help slow down RMB's appreciation against the greenback in the coming few days.
On Friday, the yuan also gained ground against the euro, the British pound and the Japanese yen.
中国外汇交易系统消息，周五中国人民币对美元汇率再创新高已达两个交易日，突破7.4。
周五，中央平价率也就是人民币对美元汇率保持在1美元兑换7.3992人民币，比周四的7.4119的参考价率上升了127个基点。
这是今年年初起人民币对美元汇率第73次新高，与2006年的最后交易日的1美元兑换
7.8078人民币比较上升了4095个基点，大约上升5.35%。
自2005年7月21日中国不再实行钉住美元汇率起，中国人民币对美元汇率累计升值9.4%。
上周日，中国中央银行行长周小川表示，如果有必要，中国将考虑扩大人民币的交易区间。
周小川在南非开普敦召开的20国集团会议上说，调整人民币浮动汇率区间决定于世界经济形势，而且这也不是国家增强货币弹性的唯一工具。
五月，中国人民币对美元汇率的日波幅从±0.3%扩大到±0.5%。然而，市场观察家认为，各商业性银行服从中央银行的命令从下周起加强外汇储备储备。这将影响市场对美元的需求，在未来一段时间内缓和人民币对美元汇率的升值速度。作者: DZ 时间: 2007-12-3 14:38
I know little about that作者: hehuhu 时间: 2007-12-4 13:36
