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人民币有效汇率微幅升值自2005年7月20日人民币汇改以来,人民币兑美元累计升值了7.07%,但兑一篮子货币的贸易加权汇率却只累计升值了3.7%,且升幅主要集中在2005年度。在2005年7月20日人民币汇改至年底期间,人民币贸易加权汇率升值幅度高达3.3%,2006年仅升值了0.1%,2007年以来只微幅升值了0.2%。究其原因,美元疲软下跌迫使非美货币反弹走高,人民币兑一篮子货币升幅受限(见表1、表2)。
The Renminbi effective exchange rate has appreciated slightly Since the Renminbi exchange reform on July 20, 2005, the renminbi has risen 7.07% against the U.S. dollar but the trade-weighted exchange rate against a basket of currencies has only appreciated 3.7% in aggregate, with the increase mainly concentrated in 2005 year. During the exchange reform of Renminbi to the end of July 20, 2005, the Renminbi trade-weighted exchange rate rose by as much as 3.3%. In 2006, it only gained 0.1%. Since 2007, it only appreciated a slight increase of 0.2%. The reason for this is that the weak dollar has forced the rebound of non-U.S. currencies to go up, and the increase of RMB against a basket of currencies has been limited (Table 1, Table 2).