China bows to international pressure, including that of the auto industry, and revalues its currency for the first time in more than a decade. The U.S. has been pressuring Beijing to float the currency to alleviate the massive bilateral trade deficit it has with China. The renminbi now is revalued at 8.11 to the dollar, compared with the old rate of 8.2765, equal to a 2.1% revaluation. The currency reportedly will be allowed to fluctuate 0.3% up or down in daily trading; be pegged ...
Premium Content (PAID Subscription Required)
"China No Longer to Peg Currency on Dollar" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
For WardsAuto.com pricing and subscription information please contact
Lisa Williamson by email: firstname.lastname@example.org or phone: (248) 799-2642