China Financial News Headlines

The lowest Level of the Exchange Rate between Won and Dollar
In the foreign exchange market on 23rd, the won-dollar exchange rate close at 1408.8 to 1, setting the lowest level since June 17th,1998. Seoul foreign exchange market rate has been down 3 trading days, totally 93.8 Won.

Dollar rose to the peak in the past 16 month
The financial turmoil has continued to exacerbate the impact in Europe. The night before last, the U.S. dollar against the Euro and Pound rate rise again in the international foreign enchange markets, at the peak of the last 16 month.

Euro has been devaluated 20% in Three Month
Following the sharp depreciation of the Australian dollar, the Euro falling gave the same momentum to the public. According to the reporters from the Fund Department of the Public Works Branch of the Province, at 3 pm yesterday RMB’s exchange rate against the euro became 8.8034, the first time for below 9 in three years.

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