Welcome to Dr Lincoln's blog

Welcome for visiting my blog. Hope you enjoy the visit and always welcome back again. Have a nice day!

2015-09-11

Chinese yuan has appreciated quite a lot against major international currencies since 2008

Comments on Stephen Olson "Hypocrisy mars RMB devaluation debate", 11/09/2015

While I am not sure whether the Chinese yuan has appreciated by more than 30% against the US dollar since 2008 (I cannot produce that results using some data from the internet), it is a fact that it has appreciated. The issue is not just the appreciation against dollar, but also the appreciation of the US dollar against virtually all major currencies at the same time. The following table shows the appreciation of the US dollar since 11/09/2008.
US Dollar Appreciation of US dollar against major other currencies since 11/09/2008:

Table 1 Changes in US dollar against other major currencies, 11/09/2008 to 10/09/2015
US Dollar
Appreciation of US dollar against major other currencies since 11/09/2008
Euro 1.243727314
British Pound 1.139751852
Indian Rupee 1.456126442
Australian Dollar 1.139451374
Canadian Dollar 1.227951612
Singapore Dollar 0.983935053
Swiss Franc 0.858302022
Malaysian Ringgit 1.254505586
Japanese Yen 1.129265962
Chinese Yuan Renminbi 0.932251339

The US dollar appreciated 24%, 14%, 13% against the euro, the British pound and the Japanese yen respectively from then to yesterday. On the other hand, it depreciated about 7% against the Chinese yuan.

No comments:

Post a Comment