QuoteDislikedChina's government allowed the country's currency to rise through 7.9 to the dollar for the first time on Thursday, the latest in a series of daily highs as its pace of appreciation has mysteriously accelerated.
The currency, known as the yuan or renminbi, has now been rising most days for the past month, climbing 0.8 percent since the start of the month, which works out to an annualized pace of 10 percent. That compares with an annual pace of 2 percent to 2.5 percent during most of the months after China's 2.1 percent revaluation on July 21, 2005.
"The reality is they're moving at a faster pace," said Jonathan Anderson, the chief Asia economist at UBS.
Top Chinese officials, almost always reticent about the value of the country's currency, have been especially quiet over the past two weeks.
Even before the World Bank and International Monetary Fund annual meetings in Singapore at the start of last week, Chinese officials had contented themselves with repeating their longstanding promises to let the market start playing a greater role in the currency's value, without giving any indication of a timetable.
http://www.iht.com/articles/2006/09/...iness/yuan.php
I wonder what the value of the yaun would be had China's cuurency policy not prevented it from getting stronger?
Any ideas on what the rising Yuan will do to the dollar?