Corporate foreign exchange news

Published by Mark Smith-HalvorsenChina will not be pressured into revaluing the yuan by the international community, the country's premier Wen Jiabao has declared.In comments carried in the Wen Wei Po newspaper ahead of the inaugural session of the annual meeting of the National People's Congress, he said that the claims that the yuan is undervalued are hurting international trade.According to Market News International, the premier added that the most important factor for strong trade was stability in foreign exchange trading."The current key is to give companies and international society a steady expectation (about the exchange rate), otherwise it will hurt companies' production and orders and attract lots of hot money inflows," said Mr Wen.The head of state also looked to allay concerns that rising inflation risks would encourage policymakers to tighten up the "appropriately loose" fiscal instruments that supported the country's impressive growth throughout the financial crisis and concomitant global downturn.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site