The Central Parity Of RMB Against The US Dollar Has Been Developing For 3 Consecutive Days.

Yesterday, the central parity of the RMB against the US dollar rose to the 6.53 integer pass. On Thursday, on the basis of the new high exchange rate on Thursday, Friday continued its efforts and went up another 38 basis points. 1 US dollars. RMB central parity It reported 6.5301 yuan and hit a high level since the exchange reform 3 consecutive days, but the spot market showed a slight pressure near the 6.53 pass.

Yesterday's spot market performance was not affected by the upward trend of the intermediate price. Instead, there was a sharp downward trend and the consolidation trend was obvious. The exchange rate of RMB against the US dollar hit the highest level to 6.5290, and then dropped to 6.5325. Finally, the lowest price in the 6.5325 day was 10 basis points lower than the previous day. All day in the vicinity of the 6.53 pass, the upward pressure was greater. Traders pointed out that due to the recent increase, the 6.53 pass still shows greater pressure.

The latest data show that in March, "hot money" and "hot money" in China Inflationary pressure Still larger. China's foreign exchange holdings rose to a high of 407 billion 900 million yuan in March this year, with an increase of 90%. March Consumer price (CPI) an increase of 5.4% over the previous year, a decrease of 0.2% compared with the same period.

However, overseas market expectations for RMB appreciation yesterday did not strengthen. As of press release, in the overseas non deliverable forward (NDF) market, the one-year RMB against the US dollar was 6.3830/ 6.3850, while the previous trading day was NDF for the one year RMB and 6.3810/ 6.3740 for the US dollar. Yesterday, the dollar in the domestic market was traded at 971 points for the one-year swap, equivalent to the market's view that RMB would reach 6.4354 yuan against the US dollar in one year.

The State Administration of foreign exchange said yesterday that it decided to appropriately reduce the total scale of the 2011 index in 2010 on the basis of reducing the total scale of the short-term external debt balance of domestic institutions, so as to maintain balance of payments and strengthen liquidity management.