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
【创新设计】2017届高考英语新人教版一轮复习课堂检测:必修1 Unit 3《Travel journal》(含答案)
教材改革 The Reform of Textbook
我生命中的天使 Angel In My Life
2017届《名师A计划》高考英语新人教版一轮复习配套练习:必修3 Unit 5《Canada
2017届《名师A计划》高考英语新人教版一轮复习配套练习:必修5 Unit 1《Great Scientists》(含解析)
2017届《名师A计划》高考英语新人教版一轮复习配套课件:必修2 Unit 3《Computers》
2017届《名师A计划》高考英语新人教版一轮复习配套练习:必修3 Unit 2《Healthy eating》(含解析)
2017届《名师A计划》高考英语新人教版一轮复习配套练习:选修7 Unit 3《Under the sea》(含解析)
男生女生?加菲猫性别引发编辑大战
2017届《名师A计划》高考英语新人教版一轮复习配套练习:必修3 Unit 4《Astronomy:the science of the stars》(含解析)
有哪些心理学知识很实用
2017届《名师A计划》高考英语新人教版一轮复习配套练习:必修4 Unit 5《Theme parks》(含解析)
2017届《名师A计划》高考英语新人教版一轮复习配套课件:必修1 Unit 5《Nelson Mandela-a modern hero》
大公司VS初创公司,哪种公司更适合你?
2017届《名师A计划》高考英语新人教版一轮复习配套课件:必修1 Unit 4《Earthquakes》
2017届《名师A计划》高考英语新人教版一轮复习配套练习:必修4 Unit 4《Body Language》(含解析)
2017届《名师A计划》高考英语新人教版一轮复习配套练习:必修5 Unit 5《First aid》(含解析)
2017届《名师A计划》高考英语新人教版一轮复习配套练习:必修4 Unit 2《Working the land》(含解析)
2017届《名师A计划》高考英语新人教版一轮复习配套练习:必修2 Unit 3《Computers》(含解析)
盘点世界上最好客的五个国家
2017届《名师A计划》高考英语新人教版一轮复习配套练习:选修6 Unit 3《A healthy life》(含解析)
2017届《名师A计划》高考英语新人教版一轮复习配套课件:必修2 Unit 1《Cultural relics》
2017届《名师A计划》高考英语新人教版一轮复习配套练习:必修2 Unit 4《Wildlife Protection》(含解析)
2017届《名师A计划》高考英语新人教版一轮复习配套练习:必修5 Unit 3《Life in the future》(含解析)
2017届《名师A计划》高考英语新人教版一轮复习配套练习:选修6 Unit 4《Global warming》(含解析)
发改委:“去产能”将扩围至煤电
如何拥有持续长久的恋爱关系
2017届《名师A计划》高考英语新人教版一轮复习配套课件:必修1 Unit 3《Travel journal》
2017届《名师A计划》高考英语新人教版一轮复习配套练习:必修3 Unit 3《The Million Pound Bank-Note》(含解析)
2017届《名师A计划》高考英语新人教版一轮复习配套练习:必修4 Unit 3《A taste of English humour》(含解析)