OUT OF MIND
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Latest topics
» New Spin on the Reason for the Tyre Nichols Beating Death
CHINA ASSERTS MARKET SETTING CURRENCY VALUE  EmptyYesterday at 11:47 am by PurpleSkyz

» The Algae That Might Save Earth’s Coral Reefs
CHINA ASSERTS MARKET SETTING CURRENCY VALUE  EmptyYesterday at 11:40 am by PurpleSkyz

» Drug Safety Expert Calls For Immediate Suspension of COVID Shots: Causing ‘Deaths of Young People and Children
CHINA ASSERTS MARKET SETTING CURRENCY VALUE  EmptyYesterday at 11:35 am by PurpleSkyz

» Former UA Swimming Standout Ty Wells Dies at 23
CHINA ASSERTS MARKET SETTING CURRENCY VALUE  EmptyYesterday at 11:17 am by PurpleSkyz

» Junior Varsity Basketball Player Suffers Seizure and Cardiac Arrest During Game
CHINA ASSERTS MARKET SETTING CURRENCY VALUE  EmptyYesterday at 11:11 am by PurpleSkyz

» ‘Synchronicity’, Is The Universe Trying To Tell You Something?
CHINA ASSERTS MARKET SETTING CURRENCY VALUE  EmptyYesterday at 11:07 am by PurpleSkyz

» Washington D.C. Court Dismisses Jan. 6 Civil Charges Against Roger Stone
CHINA ASSERTS MARKET SETTING CURRENCY VALUE  EmptyYesterday at 11:01 am by PurpleSkyz

»  #COVID19 origin: “Most read propaganda paper ever”
CHINA ASSERTS MARKET SETTING CURRENCY VALUE  EmptyYesterday at 10:54 am by PurpleSkyz

» University in shock as Thesis written by ChatGPT was Approved. AI-powered bot did 2 years work in 23 hours
CHINA ASSERTS MARKET SETTING CURRENCY VALUE  EmptyYesterday at 10:51 am by PurpleSkyz

» Elon Musk Apparently Thinks Twitter Is a "Flaming Dumpster Rolling Down the Street"
CHINA ASSERTS MARKET SETTING CURRENCY VALUE  EmptyYesterday at 10:47 am by PurpleSkyz

» Groundhog Day is an astronomy holiday
CHINA ASSERTS MARKET SETTING CURRENCY VALUE  EmptyYesterday at 10:40 am by PurpleSkyz

» AI identifies possible alien technosignatures in deep space
CHINA ASSERTS MARKET SETTING CURRENCY VALUE  EmptyWed Feb 01, 2023 1:35 pm by PurpleSkyz

» Scientists Make Shocking Discovery Under Antarctica’s Ice
CHINA ASSERTS MARKET SETTING CURRENCY VALUE  EmptyWed Feb 01, 2023 11:10 am by PurpleSkyz

» FEBRUARY UFO NEWS ~ The Bonnybridge Files - The town with the most UFO sightings in the world plus MORE
CHINA ASSERTS MARKET SETTING CURRENCY VALUE  EmptyWed Feb 01, 2023 10:36 am by PurpleSkyz

» Watch The EMF Hazards Summit Here For FREE
CHINA ASSERTS MARKET SETTING CURRENCY VALUE  EmptyWed Feb 01, 2023 10:28 am by PurpleSkyz

» Switzerland Weighs Break With Centuries-Old Policy Of Neutrality
CHINA ASSERTS MARKET SETTING CURRENCY VALUE  EmptyWed Feb 01, 2023 10:22 am by PurpleSkyz

» "It's Time For The Scientific Community To Admit We Were Wrong About COVID & It Cost Lives"
CHINA ASSERTS MARKET SETTING CURRENCY VALUE  EmptyWed Feb 01, 2023 10:19 am by PurpleSkyz

» Giant Digital Billboard Outside Pfizer HQ Shows Director’s ‘Mutated Virus’ Comments on Repeat
CHINA ASSERTS MARKET SETTING CURRENCY VALUE  EmptyWed Feb 01, 2023 1:16 am by PurpleSkyz

» Pfizer execs tip their hand
CHINA ASSERTS MARKET SETTING CURRENCY VALUE  EmptyWed Feb 01, 2023 1:11 am by PurpleSkyz

» New Mexico DA officially charges Alec Baldwin with manslaughter over 'Rust' shooting
CHINA ASSERTS MARKET SETTING CURRENCY VALUE  EmptyWed Feb 01, 2023 1:06 am by PurpleSkyz

»  Exclusive: Woman Diagnosed With Vaccine-Induced Transverse Myelitis After Pfizer Shots
CHINA ASSERTS MARKET SETTING CURRENCY VALUE  EmptyWed Feb 01, 2023 1:02 am by PurpleSkyz

» House Votes To End COVID-19 Emergency
CHINA ASSERTS MARKET SETTING CURRENCY VALUE  EmptyWed Feb 01, 2023 12:57 am by PurpleSkyz

You are not connected. Please login or register

OUT OF MIND » THE INSANITY OF REALITY » FINANCIAL COLLAPSE » CHINA ASSERTS MARKET SETTING CURRENCY VALUE

CHINA ASSERTS MARKET SETTING CURRENCY VALUE

Go down  Message [Page 1 of 1]

godsfool713

godsfool713

CHINA ASSERTS MARKET SETTING CURRENCY VALUE

http://republicbroadcasting.org/index.php?cmd=news.article&articleID=4231

Posted On: October 15th, 2012

Source: The New York Times
CLICK HERE to send this article to a friend!
Share This!

TOKYO (AP) — China’s currency has reached its equilibrium rate and its value is mainly set by the market, rather than intervention, Zhou Xiaochuan, the nation’s central bank chief, said Sunday, signaling that major movement in the renminbi’s value is unlikely soon.
In a speech delivered by Yi Gang, his deputy, Mr. Zhou, governor of the People’s Bank of China, also warned that too much monetary easing by major economies puts inflationary pressure on China as strives to increase growth while controlling prices.

China’s exchange rate against the American dollar has resurfaced in the United States presidential race, with Mitt Romney, the Republican nominee, accusing President Obama of ducking an important decision on whether China is manipulating its currency to gain a trade advantage.

The Treasury Department was to announce a decision Monday, but it said Friday that no announcement would be made until after global finance officials meet in early November, probably after the Nov. 6 election.

The United States has long urged China to lift controls on foreign exchange markets that Washington contends keep the renminbi undervalued, making China’s exports relatively less expensive in overseas markets.

In his prepared remarks, Mr. Zhou said China’s central bank refrained from intervening in the market in the last year, while the exchange rate stayed around 6.3 renminbis per dollar.

“The rate, the spot rate and future rate, determined by the market supply and demand, basically are very close to the equilibrium rate,” he said.

The renminbi has appreciated more than 30 percent against the dollar in nominal terms since 2005, Mr. Zhou said, adding that the currency had “appreciated quite a bit in the past 15 years.”

He outlined progress by China in revamping its financial sector and setting up foreign exchange markets, in the speech delivered after the meeting of the International Monetary Fund and World Bank last week in Tokyo.

Mr. Zhou was among several top bankers and other officials absent from the meeting, apparently to express China’s ire over a territorial dispute with Japan.

Back to top  Message [Page 1 of 1]

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