Dinar Daily
Welcome to Dinar Daily Discussions.

Logging in with your USERNAME allows you to participate in discussions, see what has recently been posted, and other options. Guests can post but they do have limited abilities.

We are NOT a guru forum. We are a dinarian forum. The opinions expressed on the forum do not reflect the of opinion of Dinar Daily specifically, but rather reflect the views of the individual posters only.


We are in compliance with, "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use."

Join Us for Dinar Discussions and More -- We Keep it REAL
HomeSearchMemberlistFAQLog inRegister
Help Us Drain the SWAMP in DINARLAND

REPORT TONY RENFROW for violating his Court Order to stay away from Dinar -

Judge's email/phone: ksd_murguia_chambers@ksd.uscourts.gov-
PHONE - 913-735-2340

DA's email/phone: Scott.Rask@usdoj.gov
PHONE - 913-551-6730

Key Words
Adam Montana, AdminBill, Benjamin Fulford, Currency Exchange, David Schmidt, Dinar, Dinar Guru, Dinar Recaps, Dinar Rv, Dinar Scam, Dr Clarke, Frank26, Gary Larrabee, Gurus, Guru Hunters, JerzyBabkowski, Kaperoni, Kenny, Monetary Reform, Mnt Goat, My Ladies, Okie, Poppy, RamblerNash, Ray Renfrow, Redenomination, Revaluation, Ssmith, TNTBS, Tnt Tony, WING IT, We Are The People, Willis Clark, WSOMN, Yosef, Zap
Share | 

 CHINA: Yuan Gains for a Sixth Quarter as China Takes Measures to Stem Inflation

Go down 

Posts : 3437
Join date : 2011-06-16

PostSubject: CHINA: Yuan Gains for a Sixth Quarter as China Takes Measures to Stem Inflation   Thu Jun 30, 2011 8:01 am

China’s yuan rose for a sixth straight quarter on speculation inflation is accelerating, spurring speculation policy makers will allow more appreciation to stem price gains.

Inflation may reach 5.3 percent for the first half and 4.9 percent for the year, the China Securities Journal reported today, citing estimates by the State Information Center. Li Daokui, an adviser to the central bank, said yesterday price increases will be relatively high in June due to the rise in the cost of agricultural products and pork. The People’s Bank of China set the yuan’s reference rate 1.3 percent stronger this quarter.

“The yuan strengthened on the back of China’s efforts to fight inflation in the first half,” said Edmond Law, deputy head of foreign-exchange at BWC Capital Markets in Hong Kong. “A stronger currency allows the country to tame imported inflation as commodity and food prices have been high.”

The yuan strengthened 1.3 percent this quarter and was little changed today at 6.4640 per dollar as of the close at 4:30 p.m. in Shanghai, according to the China Foreign Exchange Trade System. The currency touched 6.4605 on June 23, the highest level since the country unified official and market exchange rates at the end of 1993.

The People’s Bank of China raised the reference rate to 6.4716 per dollar today. The yuan is allowed to move 0.5 percent either side of the fixing.

Offshore Market
Twelve-month non-deliverable forwards gained 0.55 percent this quarter and 0.13 percent today to 6.3834 per dollar at 4:36 p.m. in Hong Kong, a 1.3 percent premium to the spot rate, according to data compiled by Bloomberg. In Hong Kong’s offshore market, the yuan rose 1.3 percent this quarter to 6.4653.

The central bank may raise interest rates next month as inflation may accelerate to 6.5 percent in June, Li Huiyong and Meng Xiangjuan, analysts at Shenyin & Wanguo Securities Co., wrote in a research report today.

The People’s Bank of China has raised borrowing costs four times since September to curb price pressures. Premier Wen Jiabao said this week China can keep full-year inflation below 5 percent. Consumer prices rose 5.5 percent in May.

Back to top Go down
View user profile http://dinardaily@gmail.com
CHINA: Yuan Gains for a Sixth Quarter as China Takes Measures to Stem Inflation
Back to top 
Page 1 of 1

Permissions in this forum:You cannot reply to topics in this forum
Jump to: