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石河子翻译公司关键字：Japanese yen, respectively 1.0496,118.74, depreciation over the previous year were 16.2% and 10%. Total trade-weighted index, the dollar fell 9.6% in 2002, is the largest annual decline since 1987. Euro rising against the dollar by the end of three years to reach the highest point. In the world economic专业翻译公司服务最好的 downturn in the environment, cut into government政府许可的定点正规翻译公司s to stimulate economic专业翻译公司服务最好的 growth is an important tool. Since June 5, 2003 European Central Bank cut interest rates by 50 basis points after the Fed decision on 25 June by 25 basis points rate cut, the U.S. federal funds rate from 1.25% to 1%, the lowest since 1958 level. Japan is already short-term interest rates down to near zero. Major economies show signs of recovery in the economy have taken before the cuts are, that trend is expected to cut interest rates since the recession in the year to a wide range of continuity. In the current foreign exchange market, the interest rate differential has become a major currency exchange rates determine the most critical factor, in part to increased international foreign exchange market exchange rate variables.But short term, changes in the exchange rate or have an objective evaluation. If the implementation of a fully floating exchange rate system, with either local currency appreciation or depreciation trend, the market exchange rate will be in equilibrium exchange rate fluctuations. Implementation of managed floating or fixed exchange rate system, the government政府许可的定点正规翻译公司 may in the short term the exchange rate over-or underestimated, but the exchange rate too low will see the pros and cons of each, the effect of policies there is no absolute good or bad. For example, the high exchange rate may increase tourism foreign exchange earnings, to help curb inflation; but it is not conducive to the expansion of exports, imports and exports of goods tend to increase the imbalance. Low exchange rate, there are roughly the opposite effect on both sides.
2 Long-term analysis of the pros and consRMB appreciation has the potential to bring pressure on the Chinese economy, China's manufacturing growth will just encounter resistance to damage the advantages of attracting foreign investment, while China's economy will be more shocks in the long-term impact of Asia's economic专业翻译公司服务最好的 stability.
In the long term, for a low inflation and high growth, economic专业翻译公司服务最好的 strength and competitiveness of the country有资质的正规翻译公司哪个好 grew rapidly, its currency will rise. At this time, or the currency exchange rate appreciation is a good thing, not only because it makes the nationals with a given amount of income and wealth in the international market have greater purchasing power, more fundamental significance is that it reflects the achievements of the healthy growth of national economy . But even in such cases, the currency appreciation is just the natural result of sustained economic专业翻译公司服务最好的 development, rather than the deliberate pursuit of a high exchange rate policy专业翻译公司收费价格 of the product. On the other hand, high inflation or weak growth in countries whose currency is inevitably decline. Currency devaluation may be unpleasant, but it is the economic专业翻译公司服务最好的 fundamentals of objective response, which is necessary; Conversely, if the policy专业翻译公司收费价格 by means of artificially barely overvalued exchange rate, but will cause more economic专业翻译公司服务最好的 problems the detriment of the fundamental objective of economic专业翻译公司服务最好的 development.
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