RMB Appreciation Is A Quick Step. Foreign Currency Management Should Be Done In Terms Of Currency.

After a day's short call, yesterday, the central parity of the RMB against the US dollar rose sharply to 6.5369, breaking through the 6.54 pass for the first time, and then making a new high since the exchange rate reform.

Although the appreciation of the RMB against the dollar is strong, since this year, the RMB has devalued significantly against the major currencies such as the pound and the euro.

Experts suggest that residents should consider the currency and the demand for foreign exchange when taking care of their foreign currencies.

Since mid late 3,

Experts said that the Yuan's rise to the US dollar was mainly influenced by the weakening of the US dollar.

After raising interest rates last week, the European Central Bank raised interest rate expectations for other currencies such as the Australian dollar, while the market expects us interest rates to remain unchanged for the year, making the US dollar index continue to fall and driving up other non US currencies.

This year, the renminbi has appreciated 1.28% against the US dollar.

Sun Jie, a researcher with the Institute of world economics and politics of the Chinese Academy of Social Sciences, told reporters that international commodities are mostly denominated in US dollars, while China's import dependence on raw materials such as oil, coal and iron ore is very high. The appreciation of the RMB against the US dollar will reduce the cost of raw materials for these industries.

Theoretically speaking, the appreciation of the RMB against the US dollar will help to alleviate our import inflation pressure.

"However, the volatility of commodity prices is often large. Therefore, the appreciation of the renminbi can not completely stabilize the price rise of oil, coal and other commodities in the short term."

Sun Jie said.

Although the appreciation of the renminbi against the US dollar is fierce, for other major currencies, the renminbi has depreciated considerably.

Yesterday, 1 pounds to 10.6349 yuan, 1 euros to 9.4671 yuan.

At this point, the yuan depreciated 3.73% against the British pound in the year and 7.21% against the euro.

Sun Jie pointed out that at present, all countries have been or are planning to tighten monetary policy, the European Central Bank has increased interest rates, and the second round of quantitative easing in the US will end. But considering the US economic data, employment situation and previous two rounds of loose monetary policy, the depreciation of the US dollar is still a long-term trend.

The exchange rate of the euro and the US dollar is basically the opposite, so the euro is expected to keep rising.

Therefore, when carrying out foreign currency financing, residents need to consider whether to exchange money according to currency.

A financial manager of a large state-owned bank suggests that investors holding Australian dollar, Canadian dollar, pound sterling and euro can continue to raise money or buy corresponding financial products. For those holding dollars, Japanese yen and Hong Kong dollars, if there is no demand for foreign exchange, they can be converted into RMB for financial management.

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