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2010 RMB Appreciation likely to be gradual
 
<  2010.4.29 >   hits:1458  【Font: large Mid Small
2010 RMB Appreciation likely to be gradual
 
(From:CMB-CETA Editor)
 
With two important objectives: reducing the pressure from strong domestic liquidity and boosting domestic consumption, China may allow its currency, the renminbi (RMB), to gradually appreciate this year.
 
 
              RMB exchage rate Table
                Source: China Ability
End period RMB Vesus USD
2004  Dec. 8.2765
2005  Dec. 8.0702
2006  Dec. 7.8087
2007  Dec. 7.3046
2008  Dec. 6.8346
2009  Dec. 6.8282
2010  Jan. 6.827
2010  Feb. 6.8269
2010  Mar. 6.8266
 
By end-Dec. 2008, the renminbi had risen to nearly 6.8 to the US dollar, Since mid-2008, the renminbi has been held stable as the Chinese government considers how best to respond to the global economic crisis.
 
In March 2010, the government indicated that this policy was merely a stopgap. Revaluation of the renminbi would eventually be resumed now. 
 
Yi Ping Huang, professor of economist said I remained confident that the band of RMB/USD exchange rate would be widen modestly soon, and RMB could rise by 5-8 percent before year's end.
 
Either home or international comments, all hint the information that RMB will appreciate most likely in the near future, which will have big influence on chinese export price.
 
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