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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.

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

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