BEIJING (AFP) — China hopes to see a strong dollar, state media quoted the country's central bank chief as saying Thursday, as the greenback continued to fall against the euro.
Zhou Xiaochuan, the governor of the People's Bank of China, made the comments in South Africa on Wednesday, Xinhua news agency reported.
He was in Cape Town for a meeting of central bankers and finance ministers from the Group of 20, a gathering of the world's largest economies.
"The slight depreciation of the dollar does not mean the currency is weak," Xinhua quoted Zhou as saying.
The dollar's depreciation was extended Thursday with the euro striking a new record high against the greenback as investors shunned risk amid gloomy prospects for the US economy.
The European single currency achieved a record peak of 1.4875 dollars in Asian trading hours -- the highest level since the euro's creation in 1999.
Copyright © 2009 AFP. All rights reserved. More »
