The hottest spot exchange rate of RMB against the

  • Detail

The spot exchange rate of RMB against the US dollar broke through 6.26 to create a new high in foreign exchange reform

the spot exchange rate of RMB against the US dollar broke through 6.26 to create a new high in foreign exchange reform

China Construction machinery information

Guide: the RMB began to fly again. On October 15, the domestic spot market of RMB broke through the 6.26 mark at the opening, setting a new high since the exchange rate reform. The opening lists are very important and often set the tone for the market trend of the day. And these days has been in the people's

the RMB began to "fly" again

on October 15, the domestic spot market of RMB broke through the 6.26 mark at the opening, setting a new high since the exchange rate reform

"strengthening scientific and technological innovation, optimizing quality control, strengthening customer service and improving brand value are very important at the opening, which often sets the tone for the market trend of the day. Moreover, these days, we have been in the atmosphere of RMB appreciation. After the opening broke through 6.26, the market appreciation expectation suddenly came up." A foreign exchange trader from a state-owned bank said

in recent days, the upward trend of RMB has increased continuously, and the momentum is "fierce"

first, the central parity rate of RMB soared 337 points in three trading days, which is equivalent to recovering all the declines in the previous three months in three trading days. Yesterday alone, the central parity rate of the RMB soared 152 points to 6.3112

and the spot exchange rate has repeatedly hit new highs, and has been trading at a price significantly higher than the middle price in recent days. By yesterday, the spot exchange rate had broken through the 6.26 mark at the opening, and reached a new high since the foreign exchange reform

what is the underlying reason behind the continuous record high of RMB

"I can't find the reason at once." A senior foreign exchange market analyst laughed

first of all, from the perspective of the US dollar, the US dollar has not shown a weakening trend in the international foreign exchange market recently, but it was slightly stronger yesterday. Judging from the correlation between the RMB exchange rate and the US dollar, this obviously cannot be used to explain the appreciation of the RMB

from a fundamental point of view, the latest relevant economic data released by China does not seem to be as difficult as before, and the bottoming and stabilization of the economy seems to be the most powerful explanation for the appreciation of the RMB

the expansion of the trade surplus in September is also one of the reasons why the market believes that the RMB appreciated. "The expansion of the trade surplus will affect the psychological expectations of the market. The scale of foreign exchange settlement may expand after that, and the pressure of RMB appreciation is expected to be greater after that." Said the foreign exchange trader of the state-owned bank

the impact of the third round of quantitative easing (qe3) in the United States has also become an explanation for the reversal of the RMB from depreciation to appreciation

is the RMB suddenly reversed, or has it changed the previous depreciation trend

at the autumn annual meeting of the IMF and the World Bank held in Tokyo, Japan, Yi Gang, deputy governor of the central bank, said that the RMB exchange rate has been close to the equilibrium level based on market supply and demand, and the central bank has "significantly reduced" its intervention in the foreign exchange market, which can be seen from the stop of the expansion of the scale of foreign exchange reserves. In fact, during the "two sessions" this year, Premier Wen Jiabao also expressed the view that the RMB exchange rate was close to the "equilibrium" level, and Sheng Songcheng, a central banker, expressed a similar view at the Lujiazui forum in June this year

Yi Gang's latest speech has given many market participants some compromise relief from the judgment that the RMB may move towards the appreciation channel

what can well explain the sudden change of market rhythm

some analysts believe that in addition to the sudden increase in foreign exchange settlement during the national day, the most important thing is that a series of major international political time points are approaching. The US election has entered a "white hot", and the issue of RMB exchange rate is still mentioned in the election. It is also reported that candidate Romney threatened to list China as a currency manipulator once elected

it is noteworthy that the U.S. Treasury Department was originally scheduled to publish the semi annual exchange rate report on October 15, but since the G20 finance ministers' meeting on energy efficiency, environmental protection and product quality must be comprehensively considered from November 4 to 5, the U.S. Treasury Department decided to postpone the publication of the report; November 6 is the presidential election day of the United States, and the exchange rate report may finally be released after November 6

"in order to avoid the impact of political friction on the field of foreign trade, especially at the moment when foreign trade has just seen signs of stabilization, it is not ruled out that China's monetary authorities have made some phased adjustments, which may be one of the reasons for the recent unexpected sharp opening of the central parity rate." China Merchants Bank senior analyst liudongliang said

for the later trend, Liu Dongliang said: "at a time when the economy has not yet seen a clear bottom and foreign trade has just shown signs of improvement, we believe that the RMB does not have considerable room for appreciation, and the recent rapid rise is difficult to continue. If the RMB continues to maintain the appreciation momentum, we will regard it as one of the risk points in the process of economic bottoming."

however, some people in the financial circles believe that it is a good thing for the RMB to be frugal if it can reverse the depreciation expectation. When the economic bottom is not obvious, the depreciation expectation of the RMB will cause a large amount of capital outflows, which is the most terrible thing

some domestic manufacturers can output 5 (6) information reminders

Copyright © 2011 JIN SHI