At the same time, the trend of currency appreciation seen in China during the last few months continues unabated. As of May this year, Chinese yuan has appreciated by about 9 percent against US dollar, compared to the same period of last year. Vietnam, which was also being assisted by a weakening currency, to take over much of the textile and clothing business of China, has also now started facing currency appreciation. In May 2008, Vietnam's Dong, which had been consistently depreciating during the last three years, strengthened by 1.21 percent, year-on-year.
Fibre2fashion News Desk - India
marketing@alchempro.com
