Latest News:  
Beijing   Sunny    0 / -12   City Forecast

People's Daily Online>>China Business

Yuan expected to fluctuate, rise more this year

By Gao Changxin  (China Daily)

11:08, January 06, 2012

SHANGHAI - The value of the yuan will fluctuate greatly this year but ultimately appreciate by 2 percent to 3 percent against the US dollar.

That's what a Fudan University professor studying exchange rates said on Thursday.

On Wednesday, the central bank set the daily reference rate for the Chinese currency at a record high of 6.3 yuan for each dollar, before adjusting it unexpectedly to 6.31 on Thursday. In actual trading, the value of the currency will fluctuate by 0.5 percent both up and down from the reference rate.

"This year, we will defiantly see the yuan entering the '6.2 era', " said Chen Xuebin, associate dean of Fudan University's Institute for Financial Studies.

Chen said the yuan will not simply rise in value but will fluctuate in comparison to the dollar more than ever before.

【1】 【2】 【3】

Email|Print|Comments(Editor:张茜)

Leave your comment1 comments

  1. Name

qlaorbazpOVp at 2012-01-2314.139.59.*
Thanks for helping me to see things in a dfifreent light.
  

Selections for you


  1. Temple fair kicks off in southwest China's Sichuan

  2. Chinese Spring Festival celebrated all over the world

  3. 36th Monte Carlo International Circus Festival kicks off

  4. 8 Taliban fighters lay down arms, join Afghan gov't

Most Popular

Opinions

  1. Are gold prices nearing end of its upward trend?
  2. Six-party talks should not be shelved
  3. Downplaying Iran nuclear issue not a good sign
  4. US actions make China-Russia alliance appealing
  5. No one can say 'no' to peace
  6. Cautious end to a record year for foreign investors
  7. US sends subtle signal to Iran
  8. Farewell to double-digit GDP growth
  9. Actions speak louder than words
  10. New driving force for East Asian cooperation

What's happening in China

Chinese Spring Festival TV gala gets mixed opinion

  1. Spring Festival holiday boosts tourism
  2. Explosion kills 5, injuring 6 in central China
  3. Man dies of bird flu in southwest China
  4. Bad weather makes way home harder
  5. First-aid doctors' funny but annoying experience

PD Online Data

  1. Yangge in Shaanxi
  2. Gaoqiao in Northern China
  3. The drum dance in Ansai
  4. Shehuo in Baoji City
  5. The dragon dance