InfoAnda - China's yuan hits highest level in five years

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

U.S. Markets Slide On Global Economic Concerns | 25 March 2010
Unhappy ending in Cannes, best film hard to call | Entertainment | | 24 May 2009
Robert Downey Jr. says Ricky Gervais mean-spirited | | 18 January 2011

Lawmakers: extend privacy codes to app makers | | 29 April 2011

Forum Views () Forum Replies ()

Read more with google mobile : China's yuan hits highest level in five years

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World China's yuan hits highest level in five years AFP - Tuesday, June 22 Send IM Story Print BEIJING (AFP) - – China's yuan hit its strongest level in years Monday after authorities pledged limited currency reform, but analysts said Beijing's vow was unlikely to buy off critics of its exchange-rate controls. China had pledged Saturday to allow more flexibility in what was widely seen as a bid to head off a spat with Washington at this weekend's G20 summit in Canada over charges that Beijing cheats on trade by skewing its forex rate. But on Monday the central bank held the central parity rate -- the centre point of the currency's official trading band -- at 6.8275 to the dollar, unchanged from Friday. However, the yuan subsequently pierced the 6.8 barrier to hit 6.7969 to the dollar Monday, according to Dow Jones Newswires. It was its strongest level since July 2005 when policymakers unpegged the yuan from the dollar and moved to a managed floating exchange rate. But that was still within Beijing's tight trading band and analysts said China's pledge did not presage a major revaluation. "They have been dragging their feet on yuan appreciation so this was an obvious attempt to pre-empt being a target at the G20," said Willy Lam, a China analyst at the Chinese University of Hong Kong. "The appreciation will be very limited, at most five percent over the next 12 months, so it will be well short of expectations." Policymakers revalued the yuan in July 2005 before reimposing a de-facto peg three years later during the global financial crisis to protect exporting companies, which have been the backbone of China's economic boom. Critics, not least in the US Congress, say that has left the yuan undervalued by as much as 40 percent and gives Chinese exporters an unfair trade advantage at the cost of US jobs. Prior to Saturday, Beijing had insisted that the yuan's rate was not up for discussion at the G20, when presidents Hu Jintao and Barack Obama will meet other global leaders. But US demands for reform are getting ever louder. In Saturday's vaguely worded statement, the central bank said it would "strengthen the flexibility" of the yuan's exchange rate. However, the bank followed up on Sunday to say there would be no "large swings" in the currency and no one-off adjustment. Yuan "stability" -- code for Beijing's tight grip -- would remain. "China is unlikely to abandon its policy of gradualism," said Ben Simpfendorfer, an economist at Royal Bank of Scotland in Hong Kong. Simpfendorfer expects a three percent yuan appreciation over the next 12 months, a pace that could invite renewed US impatience and pressure on China. "A more flexible yuan will be welcomed by some of China's critics but it is clearly unlikely to appease those calling for a large revaluation," he said. Complaints already have emerged, with senior US Senator Chuck Schumer expressing disappointment Sunday with China ruling out "large swings". "It vindicates our initial scepticism," Schumer, vice-chairman of a congressional committee on the economy, said in a statement. "We intend to move forward as quickly as possible with legislation" aimed at punishing China for its currency policy, he added. The currency issue has been a constant irritant in US-China ties, with members of Congress threatening trade sanctions on China and pushing for action at the G20. Lam noted the central bank has a history of making incremental changes ahead of potentially sensitive events -- most recently on the eve of President Hu's US visit in April -- while stopping short of harder hitting action. Beijing has defended its currency policy even as the world's third-largest economy grew a blistering 11.9 percent in the first quarter and demand for Chinese-made products rebounded. Patrick Chovanec, an economist at Beijing's Tsinghua University, said Beijing wants to go slow to give export firms time to adjust and that a sudden and significant revaluation is "politically and economically too painful." Recommend Send IM Story Print Related Articles Turkish bonds, lira rise on rates outlook, China news Reuters - 29 minutes ago G20 will want details on yuan - Canada's Flaherty Reuters - 35 minutes ago India says may examine Dow's liability in Bhopal case Reuters - 44 minutes ago GLOBAL MARKETS-Stocks up as yuan move triggers risk rally Reuters - Tuesday, June 22 Canada's Flaherty:China fx decision on right track Reuters - 52 minutes ago News Search Top Stories Volvo recalls nearly 30,000 cars Draft whaling deal under fire from scientists, greens US Supreme Court lifts ban on sale of GM crop US Nobel laureate slams German ECB hopeful Wimbledon under way with Federer first up More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Egypt oil spill threatens Red Sea marine life Host Canada presents itself as financial model for G20 France mutiny over Anelka expulsion Big name companies 'ambush' World Cup Draft whaling deal under fire from scientists, greens More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Monday, 21 June 2010
Iran bars two UN inspectors
Russia reduces Belarus gas supply: Gazprom
Iran bars 2 IAEA inspectors
Iran bars two IAEA inspectors: report |
US-TECH Summary
Russia reduces Belarus gas supply over debt
Suicide bomber kills 8 in north Iraq
Kabul releases first Taliban suspects after jirga deal |
Russia orders Gazprom to prepare to cut Belarus gas
Verizon offers FiOS try-out
Israel to allow more 'civilian' goods into Gaza
No merger between Gazprom, Ukraine's Naftogaz: PM
Colombia's Santos sweeps to presidential win
Host Canada presents itself as financial model for G20
Neil Patrick Harris, Oprah Among Future Star Recipients On Hollywood Walk Of Fame
US officials downplay July 2011 withdrawal from Afghanistan
Embattled Israel reverses rules on Gaza blockade |
French growth forecast 'ambitious, maybe a bit audacious'
First Pacific hurricane of 2010 forms off Mexico
Katy Perry Tops Billboard Hot 100 For Second Week With "California Gurls"
Obama, Netanyahu to meet July 6
L'Oreal heiress in 'what the butler taped' saga
"Glee" Beats Out "Eclipse" For #1 On Billboard Albums Chart
Thai authorities seek to trace protest money trail |
2 blasts rock S. Afghanistan in weekend violence
France mutiny over Anelka expulsion
Heavy rains kill at least 175 in southern China |
U.S. pullout from Iraq triggers epic garage sale |
Egypt oil spill threatens Red Sea marine life
Turkish troops enter Iraq after Kurd rebel attacks
Michael Jackson a billion-dollar man
Big name companies 'ambush' World Cup
Gunmen kill mayor of border town in Mexico drug war |
Australian mining magnate on missing Africa plane |
Kyrgyz forces remove barricades but Uzbeks still wary |
News
Indian ministers to submit Bhopal tragedy report
Radioactive gas detected after N.Korea nuke claim
NZ foreign minister pessimistic about whaling deal
Peru, Aruba murder suspect to face questioning
China coal mine explosion kills 46
USAID Chief Highlights Crucial Role Of Women In Aid Efforts, Harps On Haiti Experience
Sri Lanka furious as UN names war crimes panel
Toyota Recalls Blessing In Disguise For Dallas Dealerships; Business Rising
McHenry County (IL.) Gets First Jewish Cemetery
Indian women fighting to assert their rights
Proposed kill quotas for whales too high: scientists
US Welcomes Israel’s Announcement On Gaza
Indonesian quake death toll hits 17
Verizon offers FiOS try-out |
Nauru still deadlocked after second election
46 killed in China coal mine blast: state media
KIC, CIC, Temasek to invest in Chesapeake stake
S.Korea T-bond futures sink on inflation concern
Seoul shares post 7-wk closing high on yuan move
China's yuan hits highest level in five years
S.Korea won up 2.6 pct, biggest gain in 14 mths
Bank of Korea chief sees problem from low policy rate
S.Korea spotted buying dlrs to check won -dealers
China stocks rise on yuan flexibility vow
S.Korea flags policy normalisation, shrugs off yuan
PAKISTAN
Durban surfing World Cup wave
Italian film 'Kiss Me Again' wins top Shanghai award
Two strong quakes off Indonesia's Papua
US-ENTERTAINMENT Summary
Riva, an icon of Italian luxury design
It's a wonderful afterlife for Michael Jackson
Seeing double in Bulgaria's 'twin' village
Initiation rite revived in 16 villages in Senegal
Michael Jackson a billion-dollar man
World Cup a showcase for sunny George
Toy Story 3 sets worldwide box office abuzz |
'Toy Story' drop-kicks 'Karate Kid' in records
It's a wonderful afterlife for Michael Jackson |
Cruise crashes in nonsensical Knight and Day |
Michael Jackson a billion-dollar man |
Twilight scribe ponders failure, murder |
Iraqi FM says political 'bickering' risks street riots
Ex-Putin minister testifies in Khodorkovsky trial |
Toshiba takes on Amazon and Apple with dual-screen PC
Grim tolls for Australia, Britain in Afghanistan
BP says $2 billion spent on US oil spill
Lebanon says Gaza-bound ship may sail after Israel threat |
World stocks soar after Chinese move on yuan
Embattled Israel reverses rules on Gaza blockade
Turkey sends troops to Iraq border after PKK raid |
BP says $2 billion spent on oil spill disaster
Prosecutor probes Swedish link in Sudan crimes |
U.S. pullout from Iraq triggers epic garage sale
Draft whaling deal under fire from scientists, greens
Komorowski leads in tight Polish election race |
NATO says 4 troops die in Afghan helicopter crash
NATO says 4 troops die in Afghan copter crash
Trouble flares in Kyrgyzstan as vote nears |
Embattled Israel reverses rules on Gaza blockade |
Witness: Writing on the walls in the Holy Land |
Portugal lead N.Korea 1-0 at half-time
China flood toll rises to 175 dead, more rain forecast
Global Weather-Asia-Celsius
Congo calls on pygmies to help find missing plane
India to seek extradition of US Bhopal boss
Coal mine explosives blast kills 46 in China
Hundreds Evacuate As Wildfire Spreads In Coconino National Forest
Sex education debate heats up in Philippines
Dallas Police Chief's Son, Officer Die In Shootout
NJ Catholic School Teacher Stabbed To Death
Hong Kong revises election plan ahead of key vote
Barnes & Noble launches Wi-Fi version of Nook |
"Toy Story 3" Rules Box Office Weekend
Thai authorities seek to trace protest money trail
Internet, technology change high-end art dealing |
Pakistani stocks end up; rupee flat; o/n rates down
Toshiba takes on Amazon and Apple with dual-screen PC |
World stocks soar after Chinese move on yuan
China yuan move boosts regional markets
Japan to freeze sales tax for at least two years
China's yuan hits highest level in five years
S.Korea won sees best day in 14 mths; govt seen
Seoul shares at 7-wk closing high on yuan move
Next stop France for oldest baby mammoth
Indonesian man arrested for killing tiger in zoo
N.Korea's English fan club cheer on heroes at W.Cup
World Cup offers besieged Gazans rare escape
Music business badly needs Eminem's Recovery |
Former Jackson bodyguard drops UK libel action |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01