yuan's up

[Jim Devine <jdevine03@xxxxxxxxx>]

China lets currency rise at a rapid pace [from
http://www.iht.com/articles/2006/09/28/business/yuan.php]
By Keith Bradsher The New York Times

Published: September 28, 2006
HONG KONG China's government allowed the country's currency to rise
through 7.9 to the dollar for the first time on Thursday, the latest
in a series of daily highs as its pace of appreciation has
mysteriously accelerated.

The currency, known as the yuan or renminbi, has now been rising most
days for the past month, climbing 0.8 percent since the start of the
month, which works out to an annualized pace of 10 percent. That
compares with an annual pace of 2 percent to 2.5 percent during most
of the months after China's 2.1 percent revaluation on July 21, 2005.

"The reality is they're moving at a faster pace," said Jonathan
Anderson, the chief Asia economist at UBS. ...

--
Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own
way and let people talk.) -- Karl, paraphrasing Dante.