Dollar-yuan rate creates two months’ record
According to <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />China’s exchange trading centre, on August 31, US$-yuan middle price opened at 6.8105 (1$/6.8105 yuan), breaking a new record since June 21, from the level of 6.80 in five trading days. Before this, yuan’s rate remained a little higher at about 0.25 percent against the dollar, for instance, dollar-yuan middle price presented 1=6.8275 on June 18th.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
Affected with the rise of middle price, interbank spot rate began to climb rapidly on August 31, recorded by 6.8110 for over two months.
At Non-deliverable Forward market, dollar-yuan for one year climbed at 1=6.7200, increased by great volume against the level of 6.6500 presented weeks before. In this case, it might see the influence from the investors for future yuan’s expectation.
Analysts say it seems there is a slightest co-relation with the dollar and yuan, in which dominated with the tendency of two-way waves. Despite to be affected by some uncertainties, it has limitation to go up on yuan side in the future.
