(Bloomberg) -- The yuan had its biggest weekly gain
since the end of a fixed exchange rate in July 2005, after U.S.
Treasury Secretary Henry Paulson said dialogue is the best way
to urge China to allow gains.
China may be more willing to let its currency rise faster
through negotiations, rather than threats, said Shen Minggao, an
economist at Citigroup Inc. in Beijing. Premier Wen Jiabao this
week signaled more interest-rate increases are needed to cool
the economy after reports showed exports, investment, factory
production and inflation all accelerated last month.
Read more at Bloomberg Currencies News
since the end of a fixed exchange rate in July 2005, after U.S.
Treasury Secretary Henry Paulson said dialogue is the best way
to urge China to allow gains.
China may be more willing to let its currency rise faster
through negotiations, rather than threats, said Shen Minggao, an
economist at Citigroup Inc. in Beijing. Premier Wen Jiabao this
week signaled more interest-rate increases are needed to cool
the economy after reports showed exports, investment, factory
production and inflation all accelerated last month.
Read more at Bloomberg Currencies News
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