RMB Spot Closing Small Devaluation Market Sentiment Gradually Thick

< p > > a href= "http://www.91se91.com/news/index_c.asp" > RMB to us dollar < /a > on Monday (March 3rd), slightly lower 12 points on the previous trading day, and back to the slight appreciation of the middle price.

After a sharp fall last Friday, the spot market volatility was narrowed today, and central bank intervention was hard to find.

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< p > traders said that the overall trend is more balanced today. Without major policy guidelines, the short-term spot of the renminbi will be concussion near the current level.

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< p > a large state-owned company's < a href= "http://www.91se91.com/news/index_c.asp > > trader < /a > said," the US dollar has a slight upturn in the morning and noon. Maybe someone speculated that the central bank would intervene, so we bought a little bit first, but we did not see any signs of intervention by the central bank today.

The dollar may be at a high concussion and will not go down immediately. "

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< p > a trading director of a Shanghai branch pointed out: "the direction of the market is not very clear. We may not have the desire to short the US dollar now. The risk is relatively large."

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"P", deputy governor of the Central Bank of China "a href=" http://www.91se91.com/news/index_c.asp "Yi Gang /a", on Monday, in the gap between the CPPCC and the National People's Congress on the two sessions, said that the two-way fluctuation of RMB will become the norm for the recent exchange rate fluctuations without excessive interpretation.

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< p > however, market participants say that Yi Gang's speech is in line with the central bank's recent statement and does not provide clear directional guidance on the trend of the renminbi.

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"The key lies in whether there are new policies to change the way the central bank intervened and the control of the middle price on the market price," said P, another trader in the stock exchange.

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Yu Yongding, member of the Chinese Academy of Social Sciences, said that the depreciation of the RMB exchange rate will not last for a long time, and that the central bank has achieved its goal. P

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< p > since February this year, the RMB has fallen sharply against the US dollar.

In February 28th, the exchange rate of RMB against the US dollar touched almost 1% of its trading range.

Since the beginning of 2014, the maximum fluctuation rate of RMB exchange rate has reached 2.18%.

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< p > facing the exchange rate of "down and down", the head of the State Administration of foreign exchange said recently that the trend of RMB exchange rate is the result of the adjustment of the early Yuan Trading Strategy by the market players. The fluctuation of the exchange rate is a normal fluctuation compared with the fluctuation of the developed and emerging market currencies.

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< p > for this, Yi Gang also believes that we should not over interpret RMB exchange rate fluctuations, whether the reserve currencies of developed countries such as the United States and Japan or emerging market currencies, their exchange rate fluctuations are relatively large.

The daily fluctuation of the RMB exchange rate is only one percent, which is very large in the Chinese market.

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"P >" RMB exchange rate reform will continue to move towards the market direction and adhere to the managed floating exchange rate system based on market supply and demand.

In the future, no matter in foreign exchange management or in the convertibility of RMB capital account, we will steadily push forward.

Yi Gang expresses.

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The implementation rules for foreign exchange management of the Shanghai free trade area (P) were fully disclosed on Monday.

The detailed rules issued by the Shanghai branch of the State Administration of foreign exchange have pointed out that the upper limit of the foreign exchange loan amount of the enterprises in the Shanghai free trade area shall be adjusted to 50% from 30% of the owners' equity, while the deposits absorbed by the Chinese banks through the international foreign exchange capital account in the free trade zone can be used within the quota of not exceeding 10%.

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