Slowing trade surplus to affect value of currency
15 October 2007
The value of the yuan is expected to fluctuate slightly this week due to the effects of the slowing trade surplus, state media reported. China's trade surplus shrank to US$23.91 billion in September from US$24.97 billion in August, according to the General Administration of Customs, a figure that still exceeded economists' expectations for the month. The yuan was trading at 7.51 to the US dollar, a total appreciation of 9.29% since the pegged exchange rate of 8.28 was abandoned in July 2005.
Bookmark and Share:
