chinese currency

China blames markets for weak renminbi

China's weakening trade surplus is driving down the value of the renminbi, which is exactly what you would expect from a market-based currency, say government officials.

<div style="text-align: left;"> The renminbi's value against the dollar can go down as well as up, says China (AFP) </div>

Lillian Liu

December 08, 2011

The renminbi’s fall against the dollar during the past few days is the result of a weakening trade surplus and shows that the currency is market-based rather than being manipulated by the government, Chinese officials said yesterday.

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