The U.S. dollar vs. the Chinese Yuan: (May 2006 to April 2007).

• Author: Woolam, Cami
• Position: Alaska Trends for July 2007

The United States Federal Reserve keeps a record of exchange rates between world currencies and the U.S. dollar. This record serves as a historical record of the fluctuations within the foreign exchange market, where currencies from different countries change hands. The foreign exchange market is one of the largest markets in the world, seeing trillions of dollars worth of currency exchanged every day.

The Chinese Yuan was pegged to the value of the U.S. dollar at a rate of 8.2768 Yuan to one U.S. dollar from 1994 to 2005. Once the value of the currency was freed, the price of the Yuan has risen steadily. In June of 2006, the exchange rate was 8.02 Yuan for every U.S. dollar. In May of 2007, just under a year later, the exchange rate is 7.71 Yuan for every U.S. dollar.

The strengthening Chinese Yuan is another indicator of the robust growth of the Chinese economy. As the Yuan grows stronger, exports to China will become cheaper, and imports from China will become more expensive. There is no indication that the price of the Yuan will do anything but fall for some time.

Source: www.federalreserve.gov

ALASKA TRENDS FOR JULY 2007 Indicator Units GENERAL Personal Income - Alaska Millions of $ Personal Income - United States Millions of $ Consumer Prices - Anchorage 1982-1984 = 100 Consumer Prices - United States 1982-1984 = 100 Bankruptcies Alaska Total Number Filed Alaska Business Only Number Filed Anchorage Total Number Filed Anchorage Business Only Number Filed Fairbanks Total Number Filed Fairbanks Business Only Number Filed EMPLOYMENT Alaska Thousands Anchorage Thousands Fairbanks Thousands Southeast Thousands Gulf Coast Thousands Sectoral Distribution--Alaska Total Nonfarm Wage & Salary Thousands Goods-Producing Thousands Service-Providing Thousands Natural Resources & Mining Thousands Logging Thousands Mining Thousands Oil & Gas Extraction Thousands Construction Thousands Manufacturing Thousands Wood Products Manufacturing Thousands Seafood Processing Thousands Trade/Transportation/Utilities Thousands Wholesale Trade Thousands Retail Trade Thousands Food & Beverage Stores Thousands General Merchandise Stores Thousands Trans/Warehouse/Utilities Thousands Air Transportation Thousands Truck Transportation Thousands Information Thousands Telecommunications Thousands Financial Activities Thousands Professional & Business Svcs Thousands Educational & Health Services Thousands Health Care Thousands Leisure & Hospitality Thousands Accommodation Thousands Food Svcs & Drinking Places Thousands Other Services Thousands Government Thousands Federal Government Thousands State Government Thousands State Education Thousands Local Government Thousands Local Education Thousands Tribal Government Thousands Labor Force Alaska Thousands Anchorage Thousands Fairbanks Thousands Southeast Thousands Gulf Coast Thousands Unemployment Rate...