Friday, October 07, 2005

 

Foreign Banks, Speculators Bet On Chinese Yuan

The BBC reports on who is holding the Chinese currency. "The amount of yuan held by foreign banks has risen significantly, in anticipation of another rise in the value of China's currency. In the past three months, yuan-denominated debt held overseas rose 3.8% to $266bn, according to figures released by the government."

"Levels of short term deb, regarded by economists as a barometer of the likely speculation in a currency, rose 7.9% to $141.3bn. 'The rise in China's short-term foreign debt reflected continued hot money inflows, showing speculation on a further rise in the yuan remains strong, despite the revaluation,' Xiao Minjie, an economist at the Daiwa Institute of Research."

"US Treasury Secretary John Snow is expected to make the case for a further relaxation in the yuan's exchange rate when he visits China later this month. China's trade surplus rose threefold in the first eight months of 2005 to $60bn, more than for the whole of 2004."

Comments:
Kenali dan Kunjungi Objek Wisata di Pandeglang
Keyword Kenali Pandeglang
Mohon dukungannya yach....?!
Semangat..semangat..!!
Pandeglang telah hilang Kenali Si Dunia Aneh
Mari bersama Pak Firman yang bekerja di SDIT Nurul Ilmi Medan dalam kontes Kenali dan Kunjungi Objek Wisata di Pandeglang
 
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