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Main » 2015 » October » 8 » China is able to maintain the yuan for a long time
16:09
China is able to maintain the yuan for a long time
 
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China will be able to maintain the yuan long, long time.

 

 

 Since China began releasing monthly updates of its reserve assets in August, market analysts warn that the central bank will soon face a dilemma: to continue to support the yuan and let more money to leave the country. Some analysts, such as David Wu from Bank of America, argued that China can not do both: the central bank can not indefinitely continue to support the yuan by selling reserves, while at the same time opening up its economy and to let go of more money. It can lead to the fact that too much money leave China may , destabilizing the global financial markets and depleting foreign exchange reserves of the country, which were at $ 3.51 million as at 30 September. They have fallen from a peak of $ 3.99 trillion, which were in the summer of 2014. Many analysts believe the yuan will continue to weaken in the near future, after as Chinese traders returned to work after the Chinese holiday of "Golden Week". But since the devaluation of the People's Bank of China's currency on August 11, he remained the same. This is probably due to the foreign exchange interventions of the central bank. Foreign exchange reserves declined by $ 43.3 billion. In September amid rumors of a massive dumping of US Treasury bonds.That's less than half the $ 93.9 bn. In the reserves of the central bank Burned in August. In fact, the central bank reserves unloaded around mid-2014, when he held the yuan peg to the dollar 
USD / CNH. But they still have the largest reserves in the world, by a wide margin. But some do not consider the decline in China's reserves inevitable problem. "You can not say that the country may not have enough reserves, because it can simply print the renminbi and use them to buy dollars ", - said Doug Borthwick, head of foreign exchange operations in the company Chapdelaine & Co, the interbank  



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According to the materials WELTRADE

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