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| Reform on Exchange Rate System |
A staff worker with the China Minsheng Bank counts US dollar notes in Nanjing, East China's Jiangsu Province, Friday, July 22, 2005. The People's Bank of China, the central bank, announced to scrap the yuan's decade-old peg to the U.S. dollar, and in stead phase in a flexible mechanism of the yuan exchange rates by taking into account of a basket of major world currencies. The exchange rate of yuan vs U.S. dollar was announced at 8.11 vs 1 on Thursday. (newsphoto)
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| UPDATED 10:26, August 08, 2005 |
| PBOC on reforming the RMB exchange rate regime |
| China's central bank, recently announced that with approval from the State Council, and beginning from July 21, 2005, China will implement a regulated, managed floating exchange rate system based on market supply and demand and in reference to a package of currencies. |
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Latest News |
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Yuan's appreciation by appropriate margin benefits China in general (11:31, August 05)
Central bank to adjust float range of RMB exchange rate at proper time (09:07, August 05)
Exporters worries about RMB revaluation, attempt to seek opportunity (17:51, August 04)
Ordinary house buyers not hurt by RMB revaluation (12:43, August 04)
RMB exchange rate viewed from all sides (16:41, August 03)
RMB exchange rate reform--decided out of China's own need (17:16, July 29)
Stronger RMB to benefit outbound Chinese travellers (11:00, July 29)
Central bank denies further revaluation of RMB yuan (15:19, July 26)
Stronger RMB won't affect investment much (12:38, July 26)
Central bank governor on RMB exchange rate reform (16:53, July 25)
China to wield leverage of exchange rates on macro economy (09:55, July 25)
China's exchange rate reforms to trigger further progress:
S&P (09:54, July 25)
Soaring forex reserve challenges China's financial strategy (15:02, July 24)
China's central bank publicizes closing price rate of Chinese yuan (09:50, July 25)
RMB revaluation unexpected but just right: economists (11:04, July 23)
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Worldwide reaction |
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Stronger RMB boosts China's steel sector (10:47, August 02)
China's new exchange rate policy would have important consequences on global economy: RBI (09:24, July 27)
China's exchange rate reforms to impact slightly on region: S&P (09:12, July 26)
China's reforms on yuan build broad latitude: Singapore
press (14:09, July 25)
Philippines welcomes revaluation of Chinese currency (10:02, July 25)
Peru applauds revaluation of Chinese yuan (10:02, July 25)
Revaluation of yuan receives mixed reactions in Indonesia (09:50, July 25)
Revaluation of Yuan benefits India, Indian Commerce Minister (12:35, July 23)
EU welcomes China's revaluation of yuan (12:41, July 23)
Japan hails China's currency revaluation (13:24, July 23)
Yuan revaluation applauded worldwide (14:28, July 22)
Thailand welcomes revalue of Chinese currency (14:15, July 22)
Brazil's Central Bank welcomes revalutation of Chinese yuan (12:24, July 22)
G-7 finance ministers welcome yuan's revaluation (10:56, July 22)
France welcomes China yuan revaluation (14:29, July 22)
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