The Appreciation Of RMB Is Still &Nbsp, And The Intermediate Price Is The Highest.
Although the US dollar index rebounded strongly last week, there was no sign of a fall in the renminbi.
On Monday, the central parity of RMB opened at 6.4988, refreshing 2005.
Foreign exchange reform
The highest ever since.
RMB
exchange rate
At the end of April, it rapidly appreciated and broke through 6.5 of this important psychological barrier. After entering May, the central parity of RMB last week after a small rest, it opened the door to 6.5 again yesterday.
The domestic market has a rather low response to the new high of the middle price.
On Monday, the spot market for RMB against the US dollar closed at 6.4939 in the domestic market, almost unchanged from last Friday, and the highest and lowest price were 6.4931 and 6.4974 respectively.
Investment
Attention was paid to the Sino US strategic and Economic Dialogue held in Washington, which made the RMB market atmosphere cautious.
The two sides' talks may involve the issue of RMB exchange rate.
Before that, US Congressmen and Geithner, the US Treasury Secretary, mentioned that they would put pressure on China again on the issue of RMB exchange rate.
Liu Dongliang, an analyst with China Merchants Bank, told reporters that although the US dollar rebounded sharply in the international market, the central parity of the renminbi did not see the downtrend, but it continued to maintain its upward trend and set up a new high since May 9th. This highlights the strong intention of Chinese officials to push up the value of the renminbi.
But he also pointed out that if the US dollar can maintain a rebound trend after the strategic and economic dialogue between China and the United States, the appreciation rate of RMB may slow down, and there will not be a slight pullback in the middle price.
However, domestic trade and inflation figures will be released this week in April.
Analysts expect that if the data show that domestic exports are stronger or are still facing great inflationary pressures, the renminbi will continue to accelerate appreciation.
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