中国央行大量兜售美元（国外英文资料）.docVIP

中国央行大量抛售美元（国外英文资料） The peoples bank of China dumped dollars The headline: Goldman sachs chart: the global currency wars For the past 30 years, the worlds two largest economies, the United States and China, have been devaluing their currencies, according to Wall Street journal. In the past 12 years, other countries have competed to join the devalued race. Globalisation seems to be a process of devaluation and outward inflation. Who is the champion of this currency devaluation? The Goldman chart provides some clues. The chart below shows the trend of purchasing power in major economies relative to gold since 1981. China has been leading the trend of depreciation and has never been surpassed. The chart below shows how China has managed its currency in the past six years. Green line to reflect changes in the dollar/yuan rate means that the value of the dollar, the appreciation of the renminbi down () the red and blue line reflect market respectively and the direction of the peoples bank of China to exchange rate pressure. Analysts say the central bank has sold a large number of dollars to keep the yuan stable while the feds QE and the ECBs LTRO. Background knowledge: Currencies can be compared, can form the comparison relations between each other, the reason is that they all represent a certain value, it is the exchange rate decision basis. Gold was the standard currency under the gold standard. The monetary units of two countries that are on the gold standard can determine their relative price, or exchange rate, based on their respective gold content. In the case of the gold coin standard, the UK stipulated that the weight of 1 pound was 123.27447, and the color was 22K gold, which is 113.0016 g gold. In the United States, the weight of $1 is 25.8, and the color is 9, 000, which is 23.22 gold. The exchange rate fluctuates based on the amount of gold in the two currencies, which is $4.8665. Under the system of paper money, governments issuing paper money, as the repres