News Groups:
|
|
China Revalues the Yuan
On July 20, 2005, China removed the longstanding currency peg that tied the valuation of its
currency to the United States Dollar. The revaluation increased the value of the Yuan against
the dollar and began a new limited currency valuation tied to a basket of foreign monies. This
change, though small at first, will cause an increase in the price of all goods originating from
China. This will primarily affect our glass Chinese line during the next year; however, we do
have a limited number of sterling silver items from China as well.
|
|
|
