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: India ITME

Textiles | On 8th Dec 2016

Industry needs to create 1cr jobs in 3yrs: Kavita Gupta

Sharing several initiatives laid out by the government in R&D,...

Textiles | On 8th Dec 2016

Package will boost made-ups sector: SIMA

The reforms package approved by the Union Cabinet to boost employment ...

Textiles | On 8th Dec 2016

Cabinet okays reforms to boost jobs in made-ups sector

The Union Cabinet chaired by prime minister Narendra Modi has given...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search