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.

We hope you have enjoyed your free articles for the month
REGISTER to get 5 more free articles, or SUBSCRIBE to get full access to Caixin
Already a subscriber? Log in now
COMMENTS (0)
 
Sign up to receive our free daily newsletter

LATEST VIDEOS

Latest Issue
On the Cover:

Piecemeal Investing


Issue 103
July , 2016

POPULAR GALLERIES

SUBSCRIPTIONS

Caixin-China
Economics & Finance
Latest Issue:
Piecemeal Investing
Securities regulators are going after fund managers who cut fundraiser project quotas into retail investor-sized pieces
Issue 103
07.01.2016

Subscribe       |       Newsletter        |        FAQ