Thursday, June 24, 2010

Guidance from PBOC Advisor on Yuan Appreciation

PBOC advisor Li Daokui says the yuan is likely to rise about 3% vs dollar by end-2010 if euro steadies.

His comment re the euro is interesting. Although China has not disclosed the composition of the basket of currencies that it is now pegging the yuan against, that Daokui mentions the euro suggests that the euro is a significant percentage of the basket.

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