• <abbr id="ck0wi"><source id="ck0wi"></source></abbr>
    <li id="ck0wi"></li>
  • <li id="ck0wi"><dl id="ck0wi"></dl></li><button id="ck0wi"><input id="ck0wi"></input></button>
  • <abbr id="ck0wi"></abbr>
  • <li id="ck0wi"><dl id="ck0wi"></dl></li>
  • Home >

    RMB Exchange Rate Reinnovation High Spreads Spreads Spreads Arbitrage Driven Hot Money Pressure

    2011/9/22 9:18:00 23

    RMB Exchange Rate Bank

    After a slight correction in the first two months, China's financial institutions added 376 billion 940 million yuan to foreign exchange in August, a rise of 70% over the 219 billion 564 million yuan increase in July.

    Data released by the central bank on the 21 day show that the hot money is driven by the double arbitrage income of spreads and spreads.

    Some experts pointed out that in the context of RMB internationalization and further acceleration of capital account liberalization,

    RMB

    The form of hot money can be more easily obtained by this double income and more dynamic, worthy of vigilance.


    As an important indicator of foreign exchange inflow, as of the end of 8, China

    foreign exchange

    The total amount is RMB 25 trillion and 260 billion yuan.

    Looking back on history, foreign exchange accounted for only 2 trillion and 210 billion yuan at the end of 2002, and has increased by more than 11 times so far.

    The increment of foreign exchange accounted for the incremental proportion of the central bank's basic currency, which exceeded 100% in 2005, reaching 110%.

    The next few years continued to rise sharply, reaching 134% in 2009.


    Market expectations for the continued appreciation of the renminbi are one of the drivers behind foreign exchange inflows.

    In September 21st, the RMB exchange rate in the interbank foreign exchange market was 1 yuan to 6.3772 yuan.

    The yuan rose 108 basis points against the US dollar, not only lifting the 6.38 barrier again, but also creating a new high since the reform.

    By the 21 day, by the middle price, the appreciation of RMB against the US dollar has exceeded 3.7% this year.

    Jiang Shu, senior foreign exchange and gold analyst at 13.19,0.35,2.73%'s capital operations center, recently said that the appreciation of the renminbi will be between 4% and 5% this year. Once the Federal Reserve has launched QE3, the annual appreciation of the yuan will be 7% to 8%.


    In addition to the appreciation of the renminbi, China's "high interest rate" is also attracting.

    capital

    One of the important reasons for inflow.

    At present, the US and European economies continue to slump, maintaining ultra-low interest rates has become the first choice, and Brazil and other emerging economies are also cutting interest rates one after another.

    Under the global loose monetary policy environment, China's interest has shown some "attractiveness".

    That is to say, even if the external capital flowing into the bank is nothing to do, it will be easy to get the double benefits.


    As a speculative capital, the hot money abroad is mainly in the form of US dollars and other foreign currencies. With the promotion of RMB internationalization and the accumulation of more and more offshore renminbi in Hongkong, a new hot money, which exists in the form of RMB, has begun to appear.

    Such a pfer can earn tens of millions of dollars in cross border speculation between the mainland and Hongkong.

    How large is the hot money of this RMB form? At present, the way to accumulate Renminbi in Hongkong market is mainly through cross border trade RMB settlement.

    According to the central bank data, as at the end of 7, the total amount of RMB settlement business under the current cross border trade was 1 trillion and 630 billion yuan.

    According to the estimation of professional institutions, 80% to 90% of the trillion settlement accounts for the settlement of imports of goods, and 10% to 20% for export settlement.


    "The import and export of Renminbi is much higher than that of the export receiving Renminbi. This unilateral settlement means that most of the RMB flows out of the country through this way, and the strong appreciation of the renminbi is expected to strengthen the willingness of overseas holders to hold Renminbi."

    Zhao Qingming, an international financial expert, told the economic reference daily.

    This part of the renminbi is not on the Hongkong market, but the interest rate of RMB deposits in the offshore RMB market in Hongkong is relatively low. The yield of RMB bonds and other investment products is not high, and this part of hot money is also permeating the mainland through various channels.

    Recently, the Ministry of Commerce issued a notice on the issue of cross border RMB direct investment (Draft), which means that after a small pilot, the regulatory framework for cross-border RMB direct investment (RMB FDI) was formally promulgated.

    Following the RMB's investment in the domestic inter-bank bond market and the R-QFII (RMB qualified foreign investors) mechanism, an overseas RMB reflux channel will be added.


    "The capital account liberalization under the local currency will increase the arbitrage opportunity of the hot money in the form of RMB. In addition, the hot money in the form of foreign currency before entering the country needs a remittance cost, and the hot money of the RMB form has a larger set of interest because there is no such exchange cost."

    Insiders pointed out.

    • Related reading

    RMB To Us Dollar Record High And Euro Appreciation Cycle

    financial news
    |
    2011/9/22 9:15:00
    25

    &Nbsp Was Affected By The Rise Of The US Dollar; 21 Day Oil Prices Fell.

    financial news
    |
    2011/9/22 9:11:00
    27

    The Standard Of Bank Account Printing Cost Is &Nbsp, And Bank Of China Charges The Highest.

    financial news
    |
    2011/9/22 8:59:00
    22

    Ministry Of Commerce: Cross Border RMB Direct Investment Opinions Will Be Issued As Soon As Possible.

    financial news
    |
    2011/9/21 9:54:00
    43

    IMF Lowered China'S GDP Growth Rate To 9.5% In 2011.

    financial news
    |
    2011/9/21 8:58:00
    26
    Read the next article

    Shanxi China Expo Volunteers Wear Costumes

    Volunteers are guests' eyes at large exhibitions, and a consistent volunteer is also a beautiful view on the exhibition. Volunteers dressed in white, red and blue will provide the most intimate and considerate service to visitors during the current "China Expo".

    主站蜘蛛池模板: 欧美波霸影院在线观看| bt√天堂资源在线官网| 污污的文章让人起反应的| 国产毛片一级国语版| 中文字幕免费在线观看动作大片| 特级aaaaaaaaa毛片免费视频| 国产无遮挡吃胸膜奶免费看| 一本久道久久综合中文字幕| 欧美三级电影院| 午夜天堂精品久久久久| 两个人看的视频www在线高清| 打屁股xxxx| 亚洲国产精品欧美日韩一区二区 | 免费看小12萝裸体视频国产| 思99热精品久久只有精品| 成人区人妻精品一区二区不卡| 亚洲成年人电影网站| 美女脱了内裤打开腿让你桶爽 | 欧美一级在线播放| 又色又爽又黄的视频毛片| 永久免费视频网站在线观看| 成人无码嫩草影院| 亚洲va韩国va欧美va天堂| 精品久久久久久亚洲中文字幕| 最近中文字幕2019高清视频| 再深点灬舒服灬太大了69| 欧美18性精品| 多女多p多杂交视频| 久久久一本精品99久久精品66| 欧美韩国日本在线观看| 四虎亚洲国产成人久久精品| 0588影视手机免费看片| 好叼操这里只有精品| 久久国产精品99国产精| 欧美福利视频网| 初尝人妻少妇中文字幕| 成人午夜免费福利视频| 国产麻豆成人传媒免费观看| 中国一级毛片视频免费看| 最新国产在线视频| 亚洲片在线观看|