China's Foreign Exchange Holdings Surged In January, Hitting A New High In March.

China January gold Financial institutions The increase in foreign exchange accounted for a significant increase of 437 billion 400 million yuan, the highest level since October last year, and the sixth consecutive month of growth. Foreign exchange accounted for 272 billion 900 million yuan a month ago. The rapid growth of foreign exchange in January reflects the increase of the inflow of hot money since the beginning of the year.

　　 According to real-time news:

China's foreign exchange increased by 437 billion 400 million yuan in January, the highest in October last year, and 272 billion 900 million yuan in December.

China's fiscal deposits increased by 153 billion 100 million yuan in January.

In addition, the data released by the central bank also showed that the balance of foreign exchange held by financial institutions was 29 trillion and 67 billion 749 million yuan at the end of 1, and the balance of fiscal deposits was 3 trillion and 166 billion 477 million yuan, an increase of 153 billion 100 million yuan from last month.

In conjunction with the same month Funds outstanding for foreign exchange In January, the market increased the liquidity by 284 billion 300 million yuan.

Reuters quoted market participants as saying that since the beginning of the year, the inflow of hot money has increased, which has promoted the rapid growth of foreign exchange reserves. It is also one of the reasons for the relatively loose gold face after new year's day. However, with the increase of the central bank's efforts to crack down on hot money, the scale of new funds will decrease after March.

A brokerage analyst in Beijing said that the increase in foreign exchange accounted for more of the hot money inflow. This is also the reason why the central bank has cracked down on hot money. Foreign exchange reserves will remain high in February, but the scale of the occupation may decline thereafter.

Previously released by the safe in January bank Valet sale The data show that:

In January, the sales of foreign exchange on behalf of the bank amounted to 465 billion 800 million yuan. According to the current exchange rate of RMB / US dollar, it was about 76 billion 300 million US dollars, and the ratio increased by 1.3 times.

Foreign media quoted insiders pointed out that part of the hot money appreciation of the RMB appreciation of the trend of the spread of arbitrage, but also contributed to China's central bank recently through the intervention of foreign exchange market to combat arbitrage funds.

Lu Jianxin, a senior correspondent in Shanghai, said that the impact of cross-border inflows on China's liquidity has been greatly weakened and the market no longer needs to be entangled in foreign exchange. Since 2010, the central bank has gradually raised the deposit rate to the highest level in history, and has reopened the long term funds in the open market. Now, the initiative of market liquidity supply has been fully grasped in the hands of the central bank, and cross-border inflow is no longer important.

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According to the China foreign exchange trading center, the RMB exchange rate between the RMB and the US dollar in the interbank foreign exchange market in March 5, 2014 was 6.1257, a slight reduction of 21 basis points from the previous trading day, which has been weakening for the second consecutive trading day. But it is worth noting that in the context of the continued weakening of the middle price, the spot exchange rate of RMB against the US dollar strengthened sharply on that day.

Data show that, on the 5 day, the spot exchange rate of RMB against the US dollar opened at 65 basis points at 6.1495, followed by a continuous increase in volatility. The highest intraday rose 251 basis points to 6.1179, eventually closing at 6.1282, up 148 basis points or 0.24% on 4 days. As a result, the spot exchange rate recorded the largest single day increase in at least one year in 5 days. At the same time, as of yesterday's close, the spot exchange rate of RMB is still weaker than the middle price, but the difference between them has narrowed to 25 basis points.