Renminbi might appreciate by 5% in 07

时间：2007-06-28 00:22:21

（单词翻译:单击）

Chinanews, Beijing, June 26 – On June 25, the central parity1 rate of Renminbi to US dollar reached 7.6192. Over the first half of this year, Renminbi value has risen by nearly 2.5% to the dollar. The value of Renminbi rose by 5% to the dollar for the whole of last year. It is very likely that the value of Renminbi might grow by another 5% this year. According to some experts, when Renminbi appreciation2 rate reaches 5%, the large trade surplus might continue in the short run, the China Securities Journal reported.

 

Over the past two months, Renminbi appreciation process has quickened. Traders predict that the central parity rate of Renminbi might hit the 7.6 mark to the dollar in the last trading week in June. If this is the case, it takes only two months for Renminbi to increase from 7.7 point to 7.6 point.

 

Since the beginning of this year, apparently3 Renminbi appreciation process has displayed several features. In January and February, the appreciation process quickened; in March and April, the appreciation process slowed down a little bit. Some adjustments were also made in March and April. Starting from May, the appreciation process reached the fastest speed ever since China kicked off the Renminbi exchange regime. Over the past six months, Renminbi value against the dollar rose from 7.8073 to 7.6192. The appreciation rate has reached 2.47%.

 

Since last June, Renminbi value to the dollar has also appreciated by 5%. Based on the principle that such appreciation process will go on steadily4 and within a controllable range, it can be expected that the current appreciation trend will continue during the later half of the year. Right now, market analysts5 all agree that Renminbi might probably rise by 5% this year. The Non-deliverable Forward (NDF) one-year contract for Renminbi ranges between 7.26-7.27, with an appreciation rate also reaching 5%.

 

In July 2006 when China had kicked off the Renminbi exchange rate regime for one year, Renminbi value had already increased by 3.44% (on the day when China kicked off the exchange rate regime, Renminbi value rose by 2%). In 2006, Renminb value had risen by 3.35%. Now, its value further rose by 5%. It is clear to see that Renminbi appreciation process has become faster.

 
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1 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。
2 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。
3 apparently tMmyQ     
adv.显然地；表面上，似乎
参考例句：
  • An apparently blind alley leads suddenly into an open space.山穷水尽，豁然开朗。
  • He was apparently much surprised at the news.他对那个消息显然感到十分惊异。
4 steadily Qukw6     
adv.稳定地；不变地；持续地
参考例句：
  • The scope of man's use of natural resources will steadily grow.人类利用自然资源的广度将日益扩大。
  • Our educational reform was steadily led onto the correct path.我们的教学改革慢慢上轨道了。
5 analysts 167ff30c5034ca70abe2d60a6e760448     
分析家，化验员( analyst的名词复数 )
参考例句：
  • City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
  • I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

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