Chinese Yuan Trades Near 14-month Low Against Euro
13 Octubre 2009 - 11:51PM
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The Chinese Yuan plunged to 10.1655 against the European
currency at 12:30 am ET Wednesday. This set the lowest mark for the
yuan since August, 22 2008. The next downside target level for the
Chinese currency is seen around 10.38. The euro-yuan pair closed
Tuesday's deals at 10.1418.
The People's Bank of China has set today's central parity rate
for the euro-yuan pair at 10.1339.
China has posted a trade surplus of $135.48 billion through the
first nine months of the year, the government said today.
Imports were down 20.4 percent on year for the period of January
through September, the data showed. For September alone, imports
shed 3.5 percent on year versus expectations for a 15.0 percent
annual decline.
Exports fell 21.3 percent on year through the first nine months
of the year. In just September, exports were down 15.2 percent
compared to forecasts for a 21.0 percent annual contraction.
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