Yuan showed the largest daily increase over ten years


Currency exchange trading in China resumed after the Christmas holidays the exchange rate of the yuan. On the high of the Chinese currency against the dollar has increased by about 1.15%, which, according to Bloomberg, is the highest daily increase since July 2005.

The dollar against the yuan fell today to the level of 6,4894 yuan per dollar, so low he didn’t fall since December 2015. But then the course was retraced, and by 10:50 Moscow time the dollar was 6,494 yuan.

The people’s Bank of China today raised the reference rate of the national currency to the level of 6,5118 yuan per dollar, which, according to Bloomberg, the highest result since November 2015.

At the same time, a senior economist at the Singapore branch of Commerzbank Zhou Hao believes that data on exports show China that the yuan remains under pressure.

In January, Chinese exports in annual terms was reduced, according to the customs service, by 11.2%. At the same time, imports to China fell 18.8%.

At the end of January 2016 China suspected financier George Soros in the actions aimed at devaluation of the national currency of the PRC. Soros himself has previously predicted the fall in the rates of Asian currencies and the “imminent hard landing” of Chinese economy.

“A hard landing is almost inevitable. I don’t expect it, I watching her,” said Soros. Her signs he called the acceleration of capital outflow from China and a high level of debt.