对人民币汇率和通货膨胀的思考

2005年7月汇改后,人民币汇率兑美元呈现加速升值的走势。与此同时,国内居民消费价格指数(CPI)上扬,人民币国内购买力呈贬值态势。物价的上涨使大多数劳动者无法从人民币汇率升值中受益,也将使人民币兑美元升值现象难以持久。本文认为在当前人民币兑美元汇率仍存在升值预期下应未雨绸缪,积极疏导流动性过剩,稳定物价水平。

Thinking about RMB Exchange Rate and Inflation

Since RMB exchange rate reforms in July 2005,the exchange rate of conversion from RMB to US dollars has accelerated appreciation.At the same time,Chinese CPI also rises and RMB'internal purchasing power has depreciated.The consumer price rise makes the majority of labourers can't benefit from RMB's external ap- preciation,which will also result that the phenomenon of the exchange rate of conversion from RMB to US dollars can't last long.Though the anticipatio of RMB external appreciation still extists ,we should get in front of this issue.The most inportant thing is to lead excessive hquidity actively and maintain the consumer price.