BEIJING, Nov. 23 -- The Chinese yuan slipped again on Wednesday after ending its 12-day losing streak Tuesday.
The central parity rate of the currency weakened 125 basis points to 6.8904 against the U.S. dollar, according to the China Foreign Exchange Trading System.
Analysts attributed the decline to lingering depreciation pressure caused by rising domestic demand for foreign exchange and softened market sentiment.
Chinese citizens usually increase purchases of foreign currencies, especially U.S. dollars, at the end of a year as they plan for overseas travels during the upcoming Spring Festival holiday.
A strengthening dollar backed by heightened expectations for a U.S. interest rate rise will also likely lead to the yuan's continued weakness and mild fluctuations in the short term.
"But there is no need for excessive concerns as further depreciation may prompt the central bank to take measures to stabilize the market," said Huang Wentao, an analyst with stock brokerage China Securities.
The yuan's overall stability is still a policy priority for China's policymakers who have reiterated that there is no basis for persistent depreciation given steady economic growth, a trade surplus and huge foreign exchange reserves.
In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.
The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.
上一篇: 哈里王子公布恋情 谴责媒体诬蔑骚扰女友
下一篇: 又是一年双11,阿里购物出新招
国际英语资讯:Interview: Huawei ushers in era of intelligent phone -- business head
美文欣赏:时间是一种选择
英国家长:让自家娃学汉语最有竞争力!
广西钦州市钦州港区2017届高三12月月考英语试卷
你知道吗?你的化妆品正在让你变老!
体坛英语资讯:Iran coach Queiroz resigns
好员工为什么总离职?原因在这里
英国女王深夜散步 险遭自家警卫枪击 好险……
The Spotlight(公众注意的中心) in Rio阅读理解答案
国际英语资讯:20 people killed in traffic accidents in Algeria
国际英语资讯:U.S. Congress confirms Trumps presidency as Democrats challenge result
2016高考英语二轮(阅读理解)精品训练(02)及答案
国内英语资讯:Chinese vice president meets with foreign minister of Maldives
体坛英语资讯:Dakar Rally 6th stage cancelled after torrential rain
体坛英语资讯:Washingtons Wall and Houstons Harden named NBA Players of Month
国际英语资讯:Former Portuguese president Soares passes away
体坛英语资讯:Croatian football teams departure for China Cup delayed by bad weather
2016高考英语二轮(阅读理解)金品训练(08)及答案
China sending football market to stratosphere
看你怎么作弊 监考老师出高招:头顶报纸挡视线
体坛英语资讯:Marbury shines as Beijing beat Shanxi in CBA
2016高考英语二轮(阅读理解)金品训练(06)及答案
2016高考英语二轮(阅读理解)金品训练(07)及答案
2016高考英语二轮(阅读理解)金品训练(09)及答案
美文欣赏:不,一切并不在我掌控之中
Shanghai Disney Resort Now Open!阅读理解答案
体坛英语资讯:Real, Atletico, Sevilla enjoy easy wins
2016高考英语二轮(阅读理解)精品训练(04)及答案
国内英语资讯:Interview: China hopes Astana talks will bear fruit for Syrias political process: Chinese
广西钦州市钦州港区2016-2017学年高二12月月考英语试卷