RMB Will Take A Long Uphill Road.
The 4 trading day after the small dragon boat festival, RMB pairs. US dollar exchange rate After a two consecutive trading day, the central parity rate hit a new high of exchange rate reform, which was slightly down by the rebound of the US dollar.
Analysts expect that in the long run, the trend of RMB exchange rate appreciation is basically determined. However, influenced by the fluctuation of international foreign exchange market, it will show strong two-way floating characteristics.
On the four trading day last week, the central parity of RMB against the US dollar announced by the China foreign exchange trading center rose two trading days, two trading days down, and the weekly wave amplitude was 58 basis points. The first two trading days after the small dragon boat festival, the central parity of the RMB against the US dollar has hit a new high since 2005, and it first broke the 6.48 pass on Wednesday. The next two Trading day The central parity of RMB against the US dollar has dropped 58 basis points, down to 6.4853 last Friday.
Data released by the General Administration of Customs on Friday showed that China's cumulative trade surplus in the first 5 months of this year was $22 billion 970 million, down 35.1% from the same period last year. Among them, the trade surplus in May was 13 billion 50 million US dollars, while the surplus increased further than in April, but it was lower than expected.
Analysts pointed out that the growth trend of trade surplus in the past 5 months shows that China's annual trade surplus will decrease overall and China's trade balance will further improve, which will help to reduce the pressure of RMB appreciation. On the other hand, in view of the fact that China's economy will still maintain rapid growth and face strong inflationary pressure, the trend of long-term appreciation of RMB is basically clear.
Since the central bank announced the further reform of the RMB exchange rate formation mechanism in June 19, 2010, the RMB has appreciated slightly, the two-way floating characteristics are obvious, and the exchange rate elasticity has been significantly enhanced. In the middle price, the appreciation of RMB has exceeded 5% since June 19, 2010. This year alone, the renminbi has appreciated by more than 2%.
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