China will adjust the exchange rate of RMB in the near future
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Last Update: 2008-11-03
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Source: Internet
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Author: User
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Introduction: Oriental egger learned on December 15 that Phoenix Satellite TV reported on January 12 that according to the BBC, Goldman Sachs, a famous international investment bank, said that China would adjust the exchange rate of RMB once in the first quarter of this year, and move forward in the second half of this year to link the RMB with a number of currencies weighted by trade volume JWG Goldman Sachs said Monday that these measures in China will lead to a 5% appreciation of the yuan over the next 12 months JWG has recently seen the dollar fall against the euro and other major currencies Goldman said it would force China to reassess its currency policy JWG Goldman Sachs predicted that although the adjustment of the RMB to a fair value would require a 10% appreciation, China's "cautious first step" towards a more flexible exchange rate mechanism might be to increase the RMB's exchange rate against the US dollar by 2.5% JWG China may then move from a direct link between the RMB and the US dollar to a trade weighted approach The bank cited a recent report by China's mainland media that said the Chinese government was considering linking the yuan to 11 trade weighted currencies Jwg
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