Online edition of India's National Newspaper
Friday, July 22, 2005
China scraps dollar peg
Yuan revalued, linked to basket of trade-weighted currencies
Pressure from U.S., other trading partners works
CHENNAI: The revaluation of the Chinese currency by 2.1 per cent to the U.S. dollar is an enormously significant development. The yuan was pegged at 8.28 to the dollar since 1995. The new rate at 8.11 yuan to the dollar may be well short of the ...
No change in forex policy
RBI will manage impact, says Lahiri
Little impact on exports likely
CHENNAI: The appreciation of the rupee in the wake of revaluation of yuan may accelerate on Friday, but this will not affect India's exports, according to Subramaniam Sharma, Director, Greenback Forex Services. He said exporters had long ...
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