Caixin OnlineFinance & EconomicsTop Stories Finance Yuan Continues Its 2012 Decline
06.04.2012 17:54

Yuan Continues Its 2012 Decline

The currency fell 56 times in the first five months, compared to just four times in the past two years
By staff reporter Li Yuqian

(Beijing)–The value of the yuan has fluctuated more since the beginning of the year than in recent years, and there are signs the market is betting on continuous depreciation in the coming months.

Data from the People's Bank of China showed that in the first five months of 2012, the value of the yuan fell more frequently than any year since 2005 when the country launched exchange rate reform. Of 96 trading days in the first five months, the yuan's central parity rate declined against the U.S. dollar 56 times, the central bank said.

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