As of August, the latest data available, the BIS index of the dollar's effectiveexchangerate was less than 92, or roughly 8% below what some might consider fair, or equilibrium, value.
最近一份数据显示,8月份时BIS的美元实际有效汇率指数不足92,较指数均衡价值低了8%左右。
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If we use the rise in labor costs as the DE facto inflation index - instead of the CPI - to compute the real effectiveexchangerate, the yuan has appreciated 50 percent already since 2005.