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Yuan

Float Festival

Friday, August 26, 2005

The yuan has at last been allowed to floata move that does not impact Indonesia-China trade significantly.

arsip tempo : 178046362819.

. tempo : 178046362819.

FINALLY, the yuan was freed starting last Thursday. China has replaced pegging with managed floating. The yuan can now move up or down by 0.3 percent.

Its exchange rate in the international market is no longer pegged to the US dollar only. For the past decade, US$1 was valued at 8.28 yuan. Today, the yuans exchange rate is tied to a basket of foreign currencies.

Within the past year, Chinas trade partnersespecially Americahave been diligently pers

...

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