Home / Knowledge / News / Textiles / RMB appreciation may begin from next year

RMB appreciation may begin from next year

22
Jul '09
Since the outbreak of the financial crisis, the RMB exchange rate has changed its trend of unilateral appreciation. The RMB rate against the US dollar and the Hong Kong dollar has remained almost unchanged since this year.

According to a recent announcement from the Central Bank, the real effective exchange rate of RMB in June was 115.85, showing a devaluation of 3.04 percent from 119.48 in May.

The real effective exchange rate of the RMB has devaluated for the last four months since March, and set the lowest since August last year, and the overall depreciation has reached 4.41 percent this year.

In the first half, China's exports dropped 21.8 percent year-on-year, a decline rarely seen in many years. Experts point out that the Central Bank may not be in favour of the RMB appreciating again as long as exports remain sluggish.

They expect that the RMB will re-appreciate by the end of 2009 or in 2010. Continued appreciation of the RMB will return to the agenda, only after China's economic growth rate stabilizes at 8 percent.

Fibre2fashion New Desk - China


Must ReadView All

Pic: UNCTAD

Textiles | On 22nd Oct 2020

Trade rebounds marginally in Q3, stays negative: UNCTAD

The United Nations Conference on Trade and Trade and Development...

Pic: Shutterstock

Apparel/Garments | On 22nd Oct 2020

APAC garment units suffer as COVID hits supply chain: ILO

The COVID-19 crisis has badly hit the garment sector in the...

Pic: Shutterstock

Textiles | On 22nd Oct 2020

RCEP pact likely to be signed at 4th RCEP Summit in Nov

The Regional Comprehensive Economic Partnership (RCEP) is likely to...

Interviews View All

Kaizad Hansotia, GetNatty

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Textile Industry, Head honchos

Textile Industry
Head honchos

Trade buzz: This could be a landmark budget

Top executives, Textile industry

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Dr. Vijaya Kumar,

Dr. Vijaya Kumar

Dr MM Kariappa founded the Vogue Institute of Art & Design in 1996....

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Martina Giorgetti,

Martina Giorgetti

Italy-based Cibitex is a manufacturer of textile finishing machinery,...

Georg Reinhold, Trützschler  Nonwovens & Man-Made Fibers

Georg Reinhold
Trützschler Nonwovens & Man-Made Fibers

Trützschler Nonwovens & Man-Made Fibers, a part of the Trützschler Group,...

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Madhu Jain, Madhu Jain

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

<span style="font-size: 12px;">Designer Suman Nathwani talks about her...

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

Leave your Comments


October 2020

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


Advanced Search