Latest News:  

English>>Business

China's yuan gains 34% against USD in past 8 years

(Xinhua)

14:32, July 22, 2013

BEIJING, July 22 (Xinhua) -- The Chinese currency Renminbi, or the yuan, has appreciated 34 percent against the U.S. dollar since the exchange rate reform began eight years ago.

The central parity rate of the yuan stood at 6.17 yuan per U.S. dollar on Monday, according to the China Foreign Exchange Trading System.

The yuan advanced some 20 percent against the euro during this period.

Experts said after eight years of appreciation, the yuan's exchange rate is close to the equilibrium level, and a general trend of two-way exchange rate fluctuation is coming into being.

Since the beginning of the year until now, the yuan's value went up in 65 trading days and down in 63 trading days.

China discontinued the yuan peg to the greenback on July 21, 2005, and moved into a managed floating exchange rate mechanism based on market demand and supply, with reference to a basket of currencies.

We Recommend:

Born to lead: 2nd gen of Chinese tycoons

Model in see-through dress poses at auto show

Mortgage slaves' decade in real estate fever

2013 China Int'l Boat Show kicks off in Zhoushan

China Changchun Int'l Automobile Expo kicks off

Forbes names China's 50 best CEOs

Migrant workes' high incomes not that rosy

Chinese grads' unconventional jobs

In pictures: history of China's auto industry

Email|Print|Comments(Editor:WangXin、Chen Lidan)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Female soldiers in exercises

  2. Third-generation fighters in training

  3. Philippe sworn in as king of Belgium

  4. Nightlife at Foxconn Zhengzhou park

  5. Paralyzed dog walks with dog wheelchair

  6. Explosion hits Beijing airport

  7. 3rd Xinjiang Int'l Folk Dance Festival

  8. Highlights of Int'l Sailing Week

  9. EU regulation enhances toy safety

  10. Imports of French wine go sour

Most Popular

Opinions

  1. Middle-income group vital for China
  2. World wants to see a healthy Chinese economy
  3. Sunny days ahead for solar projects
  4. Abe has chance to show true colors after big win
  5. Reform of bank deposit rates will be a challenge
  6. Will Kevin Rudd create a new Australia?
  7. China's foreign investment policy not changing
  8. ADB economist 'optimistic' on China economy
  9. What are so-called 'eight facts' of the Philippines?
  10. US surveillance program clouds US-European ties

What’s happening in China

Hebei woman latest case of H7N9

  1. China starts emergency-response to Gansu quake
  2. China resorts to judicial protection in green push
  3. Chengguan accused of assault in Harbin
  4. Family, hospital reach agreement in infant's death
  5. Family unaware of Beijing airport bomber's plot