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Article: CHINESE YUAN APPRECIATION TO EASE: LEHMAN BROS ECONOMIST.
- Article from:
- AsiaPulse News
- Article date:
- July 23, 2008
CopyrightCOPYRIGHT 2008 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BEIJING, July 23 Asia Pulse - Appreciation of the Chinese yuan against the US dollar will slow down in the rest of the year, according to Lehman Brothers China chief economist Sun Mingchun.
Sun gave two reasons, the first being that the People's Bank of China (PBC) relies more on the effective exchange rate to set the pace of yuan appreciation.
If the US dollar appreciates against other major currencies in the second half of the year as predicated, the Chinese yuan does not have to appreciate against US dollar as quickly as in the first quarter, with the PBC aiming at a certain effective exchange rate.
Secondly, certain economic reforms and ...