Yuan hits new record high against USD

时间：2007-07-25 08:25:52

（单词翻译:单击）

BEIJING, July 25 - China's currency, the yuan, hit a new high against the U.S. dollar on Wednesday, according to the Chinese Foreign Exchange Trading System.

 

The central parity1 rate of the yuan, also known as Renminbi (RMB), stood at 7.5596 yuan to the U.S. dollar, up 129 basis points from Tuesday's 7.5725 yuan to one dollar.

 

It is the 54th time that the yuan's value hit a record this year, and also the highest rate since the yuan was revalued by 2.1 percent from 8.28 yuan in July 2005.

 

The yuan has climbed 2,491 basis points from 7.8087 on the last trading day of 2006, and the value of the yuan has increased by 7.28 percent since the country discontinued the yuan's peg2 to the dollar.

 

Analysts4 said the quicker pace of yuan's appreciation5 was closely related to the central bank's announcement to raise the benchmark interest rates last Friday.

 

The yuan is also under pressure of further appreciation with U.S. Treasury6 Secretary Paulson's visit to China at the end of this week, as the flexibility7 of the yuan will be the focus of the discussion between the two sides.

 

The yuan's value has been fluctuating within a small range after it breached8 the 7.57 mark on July 16. It lost 83 basis points on Tuesday.

 

Tan Yaling, a research analyst3 with the Bank of China earlier warned the continued yuan revaluation in a single direction may adversely9 affect the country's economic and financial security.

 

Some economists10 are worried that persistent11 anticipation12 of yuan's appreciation would attract more speculative13 fund into the country and worsen the excessive liquidity14 problem faced by the Chinese government.

 

On Wednesday, the central parity rate of RMB against the euro went up 352 basis points from Tuesday's figure to stand at 10.4368, while yuan's value against the Japanese yen15 gained 240 basis points to 6.3031 yuan against 100 yen.

 
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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 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。
3 analyst gw7zn     
n.分析家，化验员；心理分析学家
参考例句：
  • What can you contribute to the position of a market analyst?你有什么技能可有助于市场分析员的职务？
  • The analyst is required to interpolate values between standards.分析人员需要在这些标准中插入一些值。
4 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。
5 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。
6 treasury 7GeyP     
n.宝库；国库，金库；文库
参考例句：
  • The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
  • This book is a treasury of useful information.这本书是有价值的信息宝库。
7 flexibility vjPxb     
n.柔韧性，弹性，（光的）折射性，灵活性
参考例句：
  • Her great strength lies in her flexibility.她的优势在于她灵活变通。
  • The flexibility of a man's muscles will lessen as he becomes old.人老了肌肉的柔韧性将降低。
8 breached e3498bf16767cf8f9f8dc58f7275a5a5     
攻破( breach的现在分词 )； 破坏，违反
参考例句：
  • These commitments have already been breached. 这些承诺已遭背弃。
  • Our tanks have breached the enemy defences. 我方坦克车突破了敌人的防线。
9 adversely 6zEzi6     
ad.有害地
参考例句：
  • We commented adversely upon the imbecility of that message of telegraphic style. 我们对着这条电报式的愚蠢的留言发泄了一通不满。
  • Widely fluctuating exchange rates may adversely affect international trade. 浮动幅度很大的汇率可能会对国际贸易产生有害的影响。
10 economists 2ba0a36f92d9c37ef31cc751bca1a748     
n.经济学家，经济专家( economist的名词复数 )
参考例句：
  • The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
  • Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》
11 persistent BSUzg     
adj.坚持不懈的，执意的；持续的
参考例句：
  • Albert had a persistent headache that lasted for three days.艾伯特连续头痛了三天。
  • She felt embarrassed by his persistent attentions.他不时地向她大献殷勤，使她很难为情。
12 anticipation iMTyh     
n.预期，预料，期望
参考例句：
  • We waited at the station in anticipation of her arrival.我们在车站等着，期待她的到来。
  • The animals grew restless as if in anticipation of an earthquake.各种动物都变得焦躁不安，像是感到了地震即将发生。
13 speculative uvjwd     
adj.思索性的，暝想性的，推理的
参考例句：
  • Much of our information is speculative.我们的许多信息是带推测性的。
  • The report is highly speculative and should be ignored.那个报道推测的成分很大，不应理会。
14 liquidity VRXzb     
n.流动性，偿债能力，流动资产
参考例句：
  • The bank has progressively increased its liquidity.银行逐渐地增加其流动资产。
  • The demand for and the supply of credit is closely linked to changes in liquidity.信用的供求和流动资金的变化有密切关系。
15 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。

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