Market rumors say the yuan will appreciate next Wednesday
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Last Update: 2005-05-11
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Source: Internet
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Author: User
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Introduction: (comprehensive news) according to the daily economic news, although the people's Bank of China has not announced any RMB exchange rate reform, there is another rumor in the market that the RMB may appreciate on May 18 On the same day, China's foreign exchange trading system will expand the number of currencies traded, which is also an opportunity for Goldman Sachs to predict exchange rate reform From May 18, China will introduce exchange rate transactions among eight foreign currencies on the basis of the current transactions of RMB against the US dollar, euro, yen and Hong Kong dollar Goldman previously said that the Chinese government would take this opportunity to reform the exchange rate system, and that may 18 was a very appropriate time However, Zhong Wei, director of the financial research center of Beijing Normal University, believes that there is no inevitable connection between the expansion of the number of transaction currencies and the reform of RMB exchange rate Expanding the amount of transaction currency is only a basic work to improve the foreign exchange market mechanism Only under the perfect market mechanism can there be a perfect market price competition.
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