Yuan hits record high against US dollar for second straight

时间：2007-06-15 03:14:57

（单词翻译:单击）

BEIJING, June 14 - The yuan hit a record high against the U.S. dollar on Thursday for the second consecutive1 day.

 

The central parity2 rate of the yuan, also known as Renminbi (RMB), stood at 7.6258 yuan to one U.S. dollar on Thursday, up 0.69 percent from Monday's rate of 7.6785 to the dollar.

 

The yuan has climbed 1,829 basis points from 7.8087 yuan to one U.S. dollar since the beginning of the year and the accumulative appreciation3 since July 21, 2005, when China abolished the yuan's peg4 to the dollar, has now exceeded 7.5 percent.

 

The yuan has risen against a basket of currencies since Monday. The yuan has gained 1,024 basis points to reach a rate of 10.1469 yuan against the euro. lt also moved up 990 basis points to reach 6.2137 yuan against 100 Japanese yen5.

 

The appreciation of the yuan is largely due to the weakness of the U.S. dollar and depreciation6 of the Japanese yen, according to experts.

 

Wan7 Xiaoxi, senior researcher with China Southern Fund, - a Shenzhen-based securities firm - said the recent depreciation of the yen and Japan's low interest rates had exacerbated8 imbalances in international payments and encouraged yen-carry trade.

 

The carry trade involves taking advantage of Japan's low interest rates by borrowing the Japanese yen and investing the funds overseas for higher returns. The return of the funds to Japan would raise the value of the yen.

 

Wan warned that if the yen continued to depreciate9 and China lifted its controls on foreign exchange, carry trade between the yen and the RMB could explode and China's forex reserves might bulge10 to three trillion dollars within two to three years.

 
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1 consecutive DpPz0     
adj.连续的，联贯的，始终一贯的
参考例句：
  • It has rained for four consecutive days.已连续下了四天雨。
  • The policy of our Party is consecutive.我党的政策始终如一。
2 parity 34mzS     
n.平价，等价，比价，对等
参考例句：
  • The two currencies have now reached parity.这两种货币现已达到同等价值。
  • Women have yet to achieve wage or occupational parity in many fields.女性在很多领域还没能争取到薪金、职位方面的平等。
3 appreciation Pv9zs     
n.评价；欣赏；感谢；领会，理解；价格上涨
参考例句：
  • I would like to express my appreciation and thanks to you all.我想对你们所有人表达我的感激和谢意。
  • I'll be sending them a donation in appreciation of their help.我将送给他们一笔捐款以感谢他们的帮助。
4 peg p3Fzi     
n.木栓，木钉；vt.用木钉钉，用短桩固定
参考例句：
  • Hang your overcoat on the peg in the hall.把你的大衣挂在门厅的挂衣钩上。
  • He hit the peg mightily on the top with a mallet.他用木槌猛敲木栓顶。
5 yen JfSwN     
n. 日元；热望
参考例句：
  • He wanted to convert his dollars into Japanese yen.他想将美元换成日币。
  • He has a yen to be alone in a boat.他渴望独自呆在一条船上。
6 depreciation YuTzql     
n.价值低落，贬值，蔑视，贬低
参考例句：
  • She can't bear the depreciation of the enemy.她受不了敌人的蹂躏。
  • They wrote off 500 for depreciation of machinery.他们注销了500镑作为机器折旧费。
7 wan np5yT     
(wide area network)广域网
参考例句：
  • The shared connection can be an Ethernet,wireless LAN,or wireless WAN connection.提供共享的网络连接可以是以太网、无线局域网或无线广域网。
8 exacerbated 93c37be5dc6e60a8bbd0f2eab618d2eb     
v.使恶化，使加重( exacerbate的过去式和过去分词 )
参考例句：
  • The symptoms may be exacerbated by certain drugs. 这些症状可能会因为某些药物而加重。
  • The drugs they gave her only exacerbated the pain. 他们给她吃的药只是加重了她的痛楚。 来自《简明英汉词典》
9 depreciate Pmpz0     
v.降价，贬值，折旧
参考例句：
  • The computer value will depreciate by $ 500 in the first year.在头一年里这台电脑会贬值500美元。
  • If you neglect this property,it will depreciate.如果你忽视这份资产，它无形中就贬值了。
10 bulge Ns3ze     
n.突出，膨胀，激增；vt.突出，膨胀
参考例句：
  • The apple made a bulge in his pocket.苹果把他口袋塞得鼓了起来。
  • What's that awkward bulge in your pocket?你口袋里那块鼓鼓囊囊的东西是什么？

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