China supports strong dollar
China central bank governor Zhou Xiaochuan said his country supports a strong dollar as policy makers try to stem the US currency's slide.
By Agencies |
CAPE TOWN: China central bank governor Zhou Xiaochuan said his country supports a strong dollar as policy makers try to stem the US currency's slide.
“We hope to see a strong dollar, we support a strong dollar,” Zhou said, where he’s attending a meeting of world central bankers including US Federal Reserve Chairman Ben S Bernanke.
Zhou also said the central bank doesn’t plan to raise interest rates ‘next week’.
The comments come three days after Treasury Secretary Henry Paulson stepped up efforts to support the dollar, which has dropped to records against the euro and Canada's currency this month.
Paulson signalled on November 16 the dollar will rebound, predicting it will reflect "long-term strength" in the American economy.
The euro fell as low as $1.4621 after Zhou's comments from around $1.4650 beforehand.
“We hope to see a strong dollar, we support a strong dollar,” Zhou said, where he’s attending a meeting of world central bankers including US Federal Reserve Chairman Ben S Bernanke.
Zhou also said the central bank doesn’t plan to raise interest rates ‘next week’.
The comments come three days after Treasury Secretary Henry Paulson stepped up efforts to support the dollar, which has dropped to records against the euro and Canada's currency this month.
Paulson signalled on November 16 the dollar will rebound, predicting it will reflect "long-term strength" in the American economy.
The euro fell as low as $1.4621 after Zhou's comments from around $1.4650 beforehand.
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