RMB Real Effective Exchange Rate Appreciated 0.83% In September

Specifically, in September, the real effective exchange rate of RMB was 119.65, the appreciation of the ring rose by 0.83%, rising for two consecutive months.

After the appreciation in 8 and September, the effective exchange rate of RMB has reached the level of May, reaching the highest level in the year.

At the same time, the nominal effective exchange rate of RMB was 113.81, the annulus depreciation was 0.27%, and it declined for three consecutive months.

Hu Xiaolian, vice president of the central bank, said that the index that best represents the international parity of trade goods is the real effective exchange rate, that is, the exchange rate of a basket of currencies consisting of major trading partners. It reflects the cross exchange rate of the US dollar and other major international currencies, and has also adjusted the adjustment of inflation in different countries.

From the market performance in September, the central parity of RMB against the US dollar increased from 6.8126 to 6.7011, the appreciation rate reached 1.64%, the intermediate price of 100 yen increased from 8.0847 to 7.999, and the appreciation rate was 1.06%; and because of the strong euro, the middle price of the euro was reduced from 8.6333 to 9.1329, and the depreciation rate was 5.79%.

According to the public information of the bank for International Settlements, the six currencies of the Japanese yen, the dollar, the euro, the won and the Hong Kong dollar and Taiwan dollar account for 83.6% of the total basket value of the RMB effective exchange rate in the institution. The weight of the Japanese yen is the highest, reaching 26.2%, the US dollar's weight is 20.3%, and the euro's weight is 17.8%.

Since September, countries such as Europe and the United States have pressed the renminbi to expand their appreciation.

According to relevant personages, since the reform of RMB exchange rate formation mechanism in 1994, the effective exchange rate of RMB has appreciated by 55%, while some major currencies have depreciated.