2010 RMB Appreciation likely to be gradual
(From:CMB-CETA Editor)
With two important objectives: reducing the pressure from strong domestic liquidity and boosting domestic consumption, China may allow its currency, the renminbi (RMB), to gradually appreciate this year.
| RMB exchage rate Table |
| Source: China Ability |
| End period |
RMB Vesus USD |
| 2004 Dec. |
8.2765 |
| 2005 Dec. |
8.0702 |
| 2006 Dec. |
7.8087 |
| 2007 Dec. |
7.3046 |
| 2008 Dec. |
6.8346 |
| 2009 Dec. |
6.8282 |
| 2010 Jan. |
6.827 |
| 2010 Feb. |
6.8269 |
| 2010 Mar. |
6.8266 |
By end-Dec. 2008, the renminbi had risen to nearly 6.8 to the US dollar, Since mid-2008, the renminbi has been held stable as the Chinese government considers how best to respond to the global economic crisis.
In March 2010, the government indicated that this policy was merely a stopgap. Revaluation of the renminbi would eventually be resumed now.
Yi Ping Huang, professor of economist said I remained confident that the band of RMB/USD exchange rate would be widen modestly soon, and RMB could rise by 5-8 percent before year's end.
Either home or international comments, all hint the information that RMB will appreciate most likely in the near future, which will have big influence on chinese export price.
