The Central Parity Of RMB Against The US Dollar Is Reported At 6.772&Nbsp, Creating A New High In The 05 Years Since The Reform.
A few days ago, due to the US dollar's collapse in major currencies, the China Foreign Exchange Trading Center announced
RMB
The exchange rate for the US dollar was 6.772, which was 138 basis points higher than the previous trading day. It broke through the 6.78 integer pass at one stroke and set a new high since 2005.
In the 5 trading days of the week, the RMB exchange rate against the US dollar fell on the two trading day, and the 3 trading days rose, with the fluctuation fluctuating by nearly 190 basis points.
In particular, the last two trading days continued to rise, creating a new high since the reform.
Spot exchange rate also rose to a new high after the opening yesterday.
Liu Yuhui, director of the China Economic Evaluation Center, Institute of finance, Chinese Academy of Social Sciences, predicts that
RMB
Intra day volatility will remain wide and normal, but overall growth will not be too fast.
In the medium to long term, China's macro-economic change is the fundamental driving force for the RMB exchange rate trend.
In addition, reiterating the two week exchange rate reform, the bilateral volatility of the RMB against the US dollar has further increased, which helps to weaken the unilateral appreciation of the renminbi and prevent short-term capital inflows.
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