摘要
In the first half of the year, the renminbi exchange rate showed a depreciation ten- dency, which is a rare occurrence. At one point, it depreciated as much as 3.5 percent against the U.S. dollar. Yet, entering the second half, as the economy regains mo- mentum, foreign trade surplus continues to climb and the margin of interest rates be- comes increasingly attractive to international investors, this trend has come to an end. Since policymakers are pushing forward the renminbi exchange-rate reform and its internationalization, its two-way fluctuations will inevitably become normal, which will pave the way for realizing the convertibility of the renminbi at the end of 2015 or 2016.
In the first half of the year,the renminbi exchange rate showed a depreciation tendency,which is a rare occurrence.At one point,it depreciated as much as 3.5 percent against the U.S.dollar.yet,entering the second half,as the economy regains momentum,foreign trade surplus continues to climb and the margin of interest rates becomes increasingly attractive to international investors,this trend has come to an end.
