The renminbi’s depreciation would not significantly affect the local market, Eddie Kong, Chief Executive Officer of BCM Bank, said yesterday. Speaking on the sidelines of the company’s opening ceremony for its new branch in Rua de Pedro Coutinho, Kong said the currency experiences periodic adjustments, indicating the current one is adequate and ordinary for economic growth. Meanwhile, Mr. Kong believes the recent increase in U.S. interest rate would definitely have an impact upon local users, but added that the adjustment would be slow.
Top Stories
RELATED ARTICLESMORE FROM AUTHOR
More than 20 dead in Papua New Guinea floods, landslides
Flooding, landslides and torrential rains have killed at least 23 people in Papua New Guinea's...
700 people stranded by Australia cyclone
About 700 people were stranded in far northern Australia Tuesday after a tropical cyclone barrelled...
Six pivotal battlegrounds in 2024 US presidential election
President Joe Biden and his predecessor Donald Trump clinched enough support last week to become...
S. Korea suspends two doctors’ licences over walkouts
South Korea has suspended the medical licences of two doctors, the Korean Medical Association said...