Text Version
RSS Feeds
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  -Text Version
  -RSS Feeds
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
Stability seen versus dollar
+ -
14:31, September 07, 2009

 Related News
 S Korea's financial watchdog to enhance stability in real estate, job market
 Dollar mixed ahead of U.S. non-farm employment report
 Senior Chinese leader stresses development, stability in Tibet
 Dollar rises as U.S. stocks tumble
 Dollar dips against most major currencies
 Comment  Tell A Friend
 Print Format  Save Article
The yuan is likely to remain stable against the United States dollar as China seeks to curb the granting of new loans by its banks and with the US economy seen to remain weak.

The Chinese currency was nearly flat against the US dollar last week and ended at 6.8310 last Friday, according to the China Foreign Exchange Trade System. The yuan closed at 6.8309 at the end of the previous week.

The US jobless rate rose to 9.7 percent last month, the highest level since June 1983. Employers in the US has cut a total of 216,000 jobs, the Labor Department said last Friday.

China will consider using regulatory tools to control bank lending, Su Ning, deputy governor of the People's Bank of China, the central bank, said in Shanghai on Saturday.

Domestic banks extended a record 7.37 trillion yuan (US$1.1 trillion) of new loans in the first half. New loans fell to 355.9 billion yuan in July, less than a quarter of June's level.

"A stable financial market will be the top priority, and the yuan is likely to stay in a close range against the US dollar," Huiying Foreign Exchange wrote in a report.

Source:Shanghai Daily

  Your Message:   Most Commented:
Being African among the curious Chinese
Australia's permission for Rebiya's visit chills bilateral ties
Why India is pursuing military strength?
What is beyond the physical Line?
Baby alien found by Mexican farmer

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved