Nobel laureate: surge in yuan would have "unfavorable effect"

2006-05-24 18:04:53

   BEIJING, May 24 (Xinhua) -- A large appreciation in the value of China's currency would have an unfavorable effect, Nobel laureate Robert Mundell warned Tuesday, predicting that China's housing markets would go into recession. Full Story >>>

Yuan rebounds to 8-plus per USD after biggest day-on-day fall

2006-05-16 22:56:27

   BEIJING, May 16 (Xinhua) -- China's official exchange rate weakened significantly on Tuesday, the central bank announced, defying a gain the day before that helped break through the psychologically important 8 yuan per U.S. dollar level. Full Story >>>

USD-RMB exchange rate hits record 1:7.9982

2006-05-15 09:44:04

    BEIJING, May 15 (Xinhua) -- The exchange rate of the U.S. dollar against the Chinese currency, yuan, hit a record 1:7.9982 on Monday, the highest level since China appreciated its currency on July 21 last year.-->>>

An employee of Bank of China points to a screen showing the information of U.S. dollar-yuan exchange rate in Beijing, May 15, 2006. The exchange rate of the U.S. dollar against the Chinese currency, yuan, hit a record 1:7.9982 on Monday, the highest level since China appreciated its currency on July 21 last year. (Xinhua Photo)

China to gradually make capital account convertible: official

2006-04-12 18:32:20

   BEIJING, April 12 (Xinhua) -- China is pushing forward its currency Renminbi (RMB)'s capital account convertibility gradually and in a stable manner, said an official with the State Administration of Foreign Exchange (SAFE), ruling out both an adventurous leap and conservative cautiousness. Full Story >>>