Consumer Price Index Drives Chinese Yuan to New High
The Chinese Yuan contines to climb.
A new high was reached - 7.2065 today.
The two main factors:
1. US currency weakness
2. inflation pressure in China
The Federal Reserves lowering the benchmark interest rate by .75 to 3.5% reverberated as far as China. Ever since that cut, China's renminbi has been climbing.
China's December CPI was 6.5%. The yearly average was 4.8%.
The yuan has already gained more than 1% since the end of 2007 and more than 12% since July, '05.
So, just how good is a healthy rise in the CPI?
Tags: 4036, 5419, 5692POSTED IN: Doing Business in China
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Feb 13, 2008 at 1:17 pm
China insurers pay $165M for snow damage …Blogged about at Consumer Price Index Drives Chinese Yuan to New High - panasianbiz, Chinese insurers have paid more than 1.2 billion yuan, or $165 million, for deaths and damage from snowstorms that killed a…
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