The renminbi yesterday strengthened to below 7.90 against the US dollar. The renminbi yesterday strengthened to below 7.90 against the US dollar, partially because of growing speculation that the government will soon expand the band within which the currency is allowed to fluctuate. The daily benchmark, or the central parity rate for the US dollar, was set at 7.8998 yuan yesterday, the first time that the currency crossed the psychological barrier of 7.90 since last July's revaluation, according to the Shanghai-based China Foreign Exchange Trade System. China discarded the renminbi's direct peg to the US dollar in July last year, switching to a mechanism that sets the exchange rate on a basket of world currencies such as the greenback, the euro and the Korean won. Under the new regime, the yuan is allowed to fluctuate 0.3 per cent per day either way of the reference rate, which is set by the central bank. The renminbi appreciated to 7.9982 yuan against the US dollar on May 15, the first time that the currency fell below 8 in 12 years. Since then, the appreciation has gained pace, leading to growing calls for expanding the daily trading band . "The recent appreciation was largely triggered by the growing speculation that the authorities are likely to widen the daily trading band," said Li Yongsen, an economist with Renmin University of China. "However, the fundamental reasons behind the currency appreciation still remain the same: pressure from the foreign exchange reserves and mounting trade surplus," the economist said. By Zheng Lifei (China Daily) (Agencies)

9月28日，人民幣兌美元匯率首次突破7.9元關口，這和不斷增多的關于政府不久將擴大人民幣匯率浮動空間的各種猜測有關。 據上海外匯交易所介紹，昨天，央行公布的參考匯率（也就是人民幣兌美元匯率中間價）為7.8998，這是自去年7月人民幣升值以來，人民幣兌美元匯率首次突破7.9的心理關口。 在去年7月進行的匯制改革中，中國取消人民幣釘住美元的匯率機制，轉而實行參考包括美元、歐元和韓元在內的"一籃子"貨幣政策。 在新的匯率體制下，人民幣匯率可以圍繞央行公布的參考匯率每天上下浮動0.3個百分點。 今年5月15日，人民幣兌美元匯率12年來首次破8，升至7.9982元。從那時起，人民幣升值速度加快，要求擴大每日交易波幅的呼聲也不斷增高。 中國人民大學的經濟學家李永森說："新一輪人民幣升值主要和不斷增多的關于政府可能將擴大每日交易波幅的猜測有關。" 他說："但是，人民幣升值的根本原因主要還是來自外匯儲備的壓力和不斷擴大的貿易順差。" (英語點津姍姍編輯)