Finance News predictions: US urges China to strengthen yuan - 21 October 2015 - free no deposit forex bonus
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Main » 2015 » October » 21 » Finance News predictions: US urges China to strengthen yuan
13:27
Finance News predictions: US urges China to strengthen yuan
 
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The US believes that further strengthening of the yuan - a "key" to the rebalancing of the Chinese economy.

 

 

 

The United States on Monday urged China to let its currency rise further as the important support of the second largest economy in the world - to restore the equilibrium of the economy. 
In the semi-annual report of the Ministry of Finance on economic and monetary policies of major trading partners, the United States also said that the yuan, also known as the renminbi, it remains below the "appropriate mid-term evaluation." These messages are different from the previous ones in April, when the United States said that the Chinese currency has been greatly underestimated. The Ministry of Finance in its regular scale of assessment is not called currency no major trading partners currency manipulator, but urged a country with a surplus balance of trade, including Germany and South Korea, to do more to raise the level of global economic growth.  The fall in oil prices to around $ 50 per barrel changed the income of more than $ 600 billion. per annum of the Petroleum Exporting Countries, said the Ministry. The Ministry estimates that the capital outflow from indirect financial  

investment  from China is likely to reach $ 520-530 billion. in the first eight months of this year, including $ 200 in August alone. "Market factors have put downward pressure on the yuan  USD / CNH  now, but This is likely to be temporary ", - he said. Fears of a Chinese economic slowdown and a possible rise in interest rates by the Federal Reserve System of the USA led to a wave of capital flight, which intensified after the sudden devaluation of the Beijing yuan.   In an effort to stabilize the currency after that, the Central Bank China's commercial banks sold a record amount of yuan - 761.3 billion. ($ 119.85 billion.) foreign currency in September, data showed on Friday, as capital outflows affected the yuan. Traders believe that the central bank acted decisively, both domestic and RMB in the global market. Recall recently learned that the  negotiations  on the creation of the world trade center in London, the yuan. 

 

According to the materials Weltrade

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