The central parity of RMB 6.785 to break a record low of 6 years – market dynamics – Shanghai Locke

The central parity of RMB 6.785 to break a record low of 6 years – market dynamics – Shanghai network reporter from Locke?? Chinese foreign exchange trading center was informed that on the 28 day, the RMB against the U.S. dollar reported 6.7858, down 122 basis points compared with the previous trading day, fell below 6.78 points, hit a 6 year low. In the onshore market, the RMB exchange rate also fell slightly with the central parity, as of press time reporter, in the onshore market, the central parity of RMB against the U.S. dollar reported 6.7797, compared with the previous trading day fell by 19 basis points. There is a certain degree of rise in the offshore market, reported 6.7906, compared with the previous trading day rose by 44 basis points, the difference between the two sides of the exchange rate of 109 basis points. After the recent hard to take off the euro, the devaluation of the pound to weaken other currencies against the dollar, the dollar index rebounded, rising nearly 4% since October, becoming the main cause of devaluation." Bank of Hongkong chief economist E Zhihuan said, the future, the Fed rate hike may be expected to continue to push the dollar, the RMB exchange rate against the dollar under pressure, but still maintain the basic stability of the RMB against a basket of currencies. ?? The State Council Development Research Center, Institute of World Development Researcher Ding Yifan told reporters that this round of the RMB exchange rate devaluation is caused by changes in capital flows, the past due to the depreciation of the dollar caused massive inflows of $Chinese, now in the RMB has depreciated, the dollar has risen under the background of capital from China some outflow and the devaluation of the RMB exchange rate is a kind of release, the past depreciation pressure now, devaluation pressure has been basically releasing. Therefore, even if the fed to raise interest rates or cause further pressure on the RMB exchange rate, but the depreciation of the space is very limited, the RMB exchange rate will tend to be more stable trend. Chi Chi also said that from 2014 to the first half of 2015, the dollar index rose rapidly, the appreciation of the RMB against the U.S. dollar, which has accumulated a larger appreciation of other currencies. From last year after the "8.11" the RMB exchange rate formation mechanism reform, the RMB Fluctuation direction reversed, after excessive appreciation has brought tremendous pressure adjustment, has become a potential source of facing RMB devaluation expectations. ?? "The recent depreciation of the RMB exchange rate overvalued exchange rate is related with the past, past the United States to implement the quantitative easing efforts greatly, Chinese at that time in order to safeguard stability and the implementation of a relatively cautious monetary policy, therefore, monetary policy in different directions makes the RMB exchange rate has on the rise. At present, to change this situation, since last year, the RMB exchange rate depreciation pressure, due to the implementation of China’s loose monetary policy, the Fed announced the end of quantitative easing, the dollar has strengthened, while the RMB adjustment is expected in the dollar. However, the future is not much room for further depreciation." Macroeconomic Research Department of the State Council Development Research Center researcher Zhang Liqun said. ?? Zhang Liqun said, great influence, mutual changes between China and the US monetary policy on exchange rate movements now, although the Fed interest rate voice has improved, but the foundation of American economic recovery is still fragile, even at the end of this year, the Fed will raise interest rates again,.相关的主题文章: