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香港——周五,，中國(guó)貨幣匯率趨穩(wěn),，結(jié)束了連續(xù)三天的下跌。這是人民幣數(shù)十年來(lái)幅度最大的貶值,，震動(dòng)了全球市場(chǎng),。
中國(guó)央行調(diào)高了人民幣兌美元的官方匯率，雖然幅度甚微,，卻是自周二以來(lái)的首次,。
受其影響，人民幣升值0.1%,，以1美元兌6.392元人民幣的匯率結(jié)束了這一周,。然而，這還是意味著中國(guó)人民銀行讓人民幣實(shí)際貶值4.4%,。這是自中國(guó)1994年建立起現(xiàn)代匯率制度以來(lái)的最大幅度貶值,。
人民幣匯率的急跌,，讓全球有關(guān)貨幣戰(zhàn)爭(zhēng)的爭(zhēng)論愈演愈烈，并讓外界產(chǎn)生了新的擔(dān)憂：中國(guó)領(lǐng)導(dǎo)人在爭(zhēng)取對(duì)目前主要由政府控制的金融制度進(jìn)行以市場(chǎng)為導(dǎo)向的改革,，但這期間他們能否控制住該國(guó)龐大但卻日漸放緩的經(jīng)濟(jì),？
在經(jīng)歷了始于6月中旬的拋售后，中國(guó)股市依然舉步維艱,。政府采取了非同尋常的托市措施,，包括禁止大股東出售股票，以及下令國(guó)家機(jī)構(gòu)在國(guó)有銀行的支持下購(gòu)買(mǎi)股票,。但它們幾乎沒(méi)什么持久的效果,。
人民幣貶值應(yīng)該會(huì)對(duì)中國(guó)的出口商起到一定程度的幫助，因?yàn)閷?duì)外國(guó)買(mǎi)家而言,，他們的產(chǎn)品會(huì)變得相對(duì)便宜一些,。但央行的官員否認(rèn)這是他們推動(dòng)人民幣貶值的原因，他們是希望更接近由交易引導(dǎo)的匯率,。
中國(guó)央行不再忽略貨幣市場(chǎng)的變化,，而是表示將開(kāi)始在每天制定匯率時(shí)，把它們當(dāng)做參考點(diǎn),。他們說(shuō),，人民幣對(duì)這個(gè)變化做出的反應(yīng)，是一種“一次性”調(diào)整,。
隨中國(guó)經(jīng)濟(jì)放緩,，人民幣一直面臨著貶值的壓力。但中國(guó)央行一直讓人民幣鉤住美元,，而因?yàn)槊绹?guó)國(guó)內(nèi)經(jīng)濟(jì)回升,，美元相對(duì)于其大部分主要貨幣都升值了。
“今年夏天,，因?yàn)楸O(jiān)管機(jī)構(gòu)在面對(duì)泡沫時(shí)沒(méi)有能力采取行動(dòng),，中國(guó)股市崩盤(pán)，”咨詢公司榮鼎咨詢(RhodiumGroup)創(chuàng)始合伙人榮大聶(Daniel H. Rosen)在一份研究報(bào)告中寫(xiě)道,。他接著表示,，中國(guó)央行“下決心在貨幣問(wèn)題上不再重蹈覆轍”。
到了周五,，中國(guó)明確表示將允許人民幣匯率跟隨市場(chǎng)變化,。但央行也表示，如有需要,，它將毫不猶豫地出面干預(yù),。人民幣匯率的浮動(dòng)區(qū)間依然被限定在上下2%。
周五,，央行制定的人民幣兌美元的匯率是6.397,，同周四的收盤(pán)價(jià)相比小幅上漲0.01%,。在周五的整個(gè)交易期間，盡管交易量巨大,，匯率始終穩(wěn)定在這個(gè)水平上下,，這表明央行正在采取行動(dòng)，保持匯率穩(wěn)定,。（中國(guó)進(jìn)出口網(wǎng)）
HONG KONG — China’s currency stabilized on Friday, ending a three-day plunge that shookmarkets globally during the renminbi’s steepest devaluation in decades.
For the first time since Tuesday, the country’s central bank set the official exchange ratehigher — though only slightly — against the dollar.
The renminbi responded by strengthening 0.1 percent, ending the week at 6.392 per dollar.Still, that meant the People’s Bank of China had effectively devalued the currency 4.4 percent.It was the steepest drop since the country’s modern exchange rate system was set up in1994.
The sudden decline added fuel to a global debate about currency wars. It also raised newconcerns about whether Chinese leaders could manage the country’s huge but slowing economyas they pursue market-driven overhauls to the financial system, which remains broadly understate control.
China’s stock markets are still struggling after a sell-off that began in mid-June. Thegovernment took extraordinary measures to support share prices, including barring majorshareholders from selling stocks and ordering state agencies to buy, with backing from statebanks. But they had little lasting effect.
The renminbi’s fall should provide a modest boost to the country’s exporters, as the prices oftheir goods become relatively cheaper to overseas buyers. But officials at the central bank havedenied that was why they pushed the currency down, saying instead that they wished to movecloser to an exchange rate guided by trading.
Instead of ignoring movements in the currency market, the central bank said it would begin touse them as the reference point in its daily setting of the exchange rate. The renminbi’sreaction to this change, they said, was a “one-off” adjustment.
The currency had been under pressure to weaken as China’s economy slowed. But the centralbank kept it closely linked to the dollar, which had strengthened against most other majorcurrencies because of the rebounding economy in the United States.
“China’s equities market crumbled this summer because its regulators were incapable of actingin the face of a bubble,” Daniel H. Rosen, a founding partner of the consultancy the RhodiumGroup, wrote in a research note. China’s central bank “was determined not to repeat thatmistake with the currency,” he added.
By Friday, China had made clear it would allow the currency to move with the markets. But thecentral bank also showed it would not hesitate to step in if needed. And the renminbi’s dailyswings are still capped at a rise or fall of 2 percent.
The central bank set the exchange rate at 6.397 per dollar on Friday, a tiny 0.01 percent gainfrom Thursday’s market close. It remained steady around that level throughout trading onFriday, despite heavy volume, suggesting that the central bank was acting to keep the currencystable.
