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:

Bonds on the Brink


Issue 101
May , 2016

POPULAR GALLERIES

SUBSCRIPTIONS

Caixin-China
Economics & Finance
Latest Issue:
Bonds on the Brink
An interbank bond trading platform is reeling over a state-owned company’s debt crisis, prompting a regulatory review
Issue 101
05.01.2016

Subscribe       |       Newsletter        |        FAQ