Home / Knowledge / News / Textiles / Analysts expects Yuan to appreciate against US dollar
Analysts expects Yuan to appreciate against US dollar
21
Jan '11
By the end of 2010, China's foreign exchange reserves amounted to US $2.8473 trillion, up 18.7 percent year on year, while the trade surplus touched US $183.1 billion, China's foreign direct investment reached US $91.7 billion in the first 11 months of 2010.

The Yuan appreciation against the dollar reached 3 percent in 2010. The central parity of Yuan against the US dollar broke a new high since the exchange reform and closed at 6.6128 Yuan per dollar on January 12.

The year has just begun; major organizations collectively expect that the Yuan will continue to appreciate in 2011 against the US dollar.

The mechanism of the Yuan closely pegging to the dollar no longer exists since the financial crisis. China resumed the exchange reform that was started in 2005; the Yuan surged all the way, rising from 6.8275 Yuan per dollar on June 19, 2010 to 6.6128 Yuan per dollar on January 12, 2011.

The market has almost no objection to the pace of Yuan appreciation. UBS Securities expects that the Yuan will rise 6 percent in 2011; the dollar-Yuan exchange rate will reach 6.2 Yuan per dollar by the end of 2011, being driven by international pressures.

JP Morgan expects that the Yuan against the US dollar will remain at 6.3 Yuan per dollar by the end of 2011; the pace of appreciation may accelerate.

China International Capital Corporation Limited (CICC) expects that the real effective exchange rate of Yuan will rise by 5 percent in the next 12 months.

Chief Asia-Pacific economist of Goldman Sachs in Hong Kong, Michael Buchanan says that the Yuan against the US dollar will appreciate 5.8 percent by the end of 2011.

Fibre2fashion News Desk - China

Must ReadView All

Courtesy: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search