The Central Parity Of RMB Reached Its Lowest Level In 10 Weeks.
RMB
The weak trend continued, and on Tuesday the central parity of the yuan against the US dollar reached its lowest level in about 10 weeks.
Yesterday, the foreign exchange trading center announced that the 1 US dollar was 6.8105 yuan, up 80 basis points from 6.8025 on the previous day.
The above prices surprised the market, which is already very close to the central bank's announcement of the 6.8262 rise in the two RMB exchange rate reform by the end of June.
The performance of the US dollar is still regarded as the main reason for the recent weakness of RMB.
From 6 to July, the US dollar index was adjusted, but after August, the dollar reopened.
international market
Strong, the RMB exchange rate also fell, the dollar to the central parity of RMB rose to 6.80 above.
However, the rise in the US dollar has eased recently compared with the previous two weeks, but the RMB exchange rate continued to drop to 6.81. Analysts believe that this shows that even the moderate rise of the US dollar has a stronger impact on the RMB than the weakening of the US dollar, that is, the RMB is more sensitive to the strength of the US dollar.
A fund trader of a Chinese funded bank said that the central parity of RMB has been quite recent and the short term seems to lack a clear direction, which will bring difficulties to the judgement and operation of the market. However, the fluctuation of the RMB intermediate price and the US dollar index still maintain a strong relationship. Therefore, they believe that the performance of the US dollar will be the main influencing factor for the recent trend of RMB.
Under the influence of the middle price, the RMB spot market in China declined. Yesterday, the US dollar closed 6.8074 against the RMB, and the highest value came to 6.8110 in the intraday market. This is the spot spot of RMB in more than two months.
exchange rate
Lowest.
The US dollar also rose against the renminbi in the offshore non deliverable forward (NDF) market, which means that the appreciation of the renminbi is expected to fall somewhat.
Yesterday, the 1 - year dollar against the RMB NDF price plate was 6.7155, the highest price of 6.7250, the previous trading day, the price of 6.7000.
Monday's closing price represents the appreciation of the renminbi, which is expected to appreciate by 1.53% after a year, while the expected appreciation of the highest price yesterday is 1.27%.
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