Sectors

Skip Navigation LinksHomeMethod of renminbi appreciation divides panelists

Method of renminbi appreciation divides panelists

Date: 03 Feb 2010

Participants at the Euromoney Asia Forex Forum debated the pros and cons of one-off revaluation against gradual appreciation. While the latter ends near-term speculative inflows, the former offers a longer-term approach.

Keywords (click to search): [China] [renminbi] [appreciation] [Glenn Maguire] [Lian Chia-Liang] [Pimco] [Bernard Yeung]

Pamela Tang

Beijing is widely tipped to re-start appreciation of the renminbi this year, yet industry figures remain divided on the country’s best approach.

At a discussion entitled “Evaluating the Growing Significance of China in the Global Forex Markets” at the Euromoney Asia Forex Forum in Singapore on February 2, panelists debated the pros and cons of one-off revaluation or gradual appreciation.

Beijing has held its currency pegged to the greenback at Rmb6.83 since July 2008. But it is facing internal and external pressure to revalue the currency, and analysts expect that to happen this year. The forecasts range between a rise of 3% to 10%.

Chinese regulators will have been encouraged by stronger domestic economic...

To continue reading the rest of the article, you will need to be an Asiamoney subscriber.

Asiamoney subscribers will receive full access to the following:

  • All the latest news, analysis and opinion at Asiamoney.com, Asiamoney WM (Wealth Management), and ACN (Asiamoney China) .
  • Breaking news alerts sent directly to your PC/mobile device.
  • Asiamoney’s Polls and Awards section.
  • Asiamoney’s extensive online archive
  • Asiamoney Week: our email service featuring the most widely read news and opinion pieces on Asia’s financial markets from our website over the previous seven days

If you would like to start your subscription, please contact our subscriptions team at (+852) 2842 6998.

If you are experiencing any problems with your access, please contact Customer Service by phone at (+852) 2842 6910 (Hong Kong), (+44) (0) 20 7779 8999 (UK), (+1) 212 224 3570 (US) or contact us by email at subscriptions@asiamoney.com.

Kind regards,

Asiamoney
http://www.asiamoney.com


Already have an account?

Subscriber Login


Forgotten your password?

Subscribe

Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.

Free trial

Taking a free trial will give you access to the current issue for two weeks (excluding selected articles, poll results and achives). Start your free trial today.

Related articles

  • HKEx consults market on renminbi futures  02 Sep 2010
    The operator of Hong Kong's stock and derivatives exchanges is consulting the market over the introduction of renminbi futures. The tools would greatly help companies hedge currency risk, and help spur more liquidity in the offshore market for the currency.

  • August enjoys busiest M&A volumes on record  02 Sep 2010
    Announced M&A activity for Asia ex-Japan during the month was larger than any previous corresponding month on record. Total M&A deal flow for the first eight months of the year is also the most seen so far. Morgan Stanley is the lead adviser for M&A.

  • China set to raise rates to combat rising inflation: DBS  02 Sep 2010
    Surprisingly high inflation expectations along with strong levels of local consumer and loan demand will force the central bank to begin raising interest rates more sharply than expected, predicts the Singaporean bank. It anticipates three hikes by the second quarter of 2011.

  • Economists suggest radical moves for Japan's economy  31 Aug 2010
    The outcome of an emergency meeting between Bank of Japan governor Masaaki Shirakawa and prime minister Naoto Kan was panned by economists as a political stunt that will not help the country’s economy. Asiamoney.com asks some notable economists their views on more effective policies that should be pursued.

  • Renminbi reform hastened by offshore FX pilot scheme  31 Aug 2010
    A pilot programme by the State Administration of Foreign Exchange to let Chinese companies keep FX proceeds offshore could be another step towards liberalisation of the renminbi, and mark an attempt to reduce appreciation pressure on the currency.

Most read articles

  1. Four UBS bankers follow Henry Cai to Deutsche

  2. CHINA - Tianjin plots financial re-launch

  3. HSBC hires six in renewed enthusiasm for equities

  4. World has 33% chance of economic double dip: S&P

  5. Private banking industry showing signs of strain


All material is subject to strictly enforced copyright laws. © Euromoney Institutional Investor (Jersey) Ltd 2010.