since July 21,2005 ,when RMB exchange rate reform began , the exchange rate of RMB against USD has been on the rise. it is generally predicted that in 2007 RMB exchange rate will go on maintaining the growth momentum and the growth rate can be faster.three reasons account for this;the first reason is that with more surplus of international payments ,foreign exchage reserve is will maintain the fast growth momentum;the second reason is that the appreciation of RMB against USD isn't as fast as the depreciation of USD against euro and ENGLISH pound,which indicates that there is still large room for the appreciation of RMB;the third reason is that American democratic's victory election puts RMB exchange rate under a lot of pressure.the above testifies that the appreciation of RMB is still confronting a lot of pressure and the appreciation growth rate will be fastened in the near future.in 2005, the growth rate of RMB appreciation against USD is 2.493% while that of 2006 is as high as 3.24%.the appreciation of RMB against USD since the reform of RMB exchange has totalled 3.7152%.thus,it is concluded that the growth rate of appreciation of RMB against USD can be as high as 4.5%;by the end of 2007,the exchange rate of RMB against USD can be 7.46:1
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