The Central Bank Announced That The Exchange Rate Of RMB Against The US Dollar Expanded From 1% To 2%.

< p > the central bank announced yesterday that since March 17th, the floating rate of RMB against the US dollar in the "a href=" http://www.91se91.com/news/index_c.asp "/a" spot foreign exchange market has expanded from 1% to 2%.

This is two years after the central bank once again expanded the exchange rate volatility.

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< p > the countdown of preferred stock countdown preferred stock has fired the first shot of the policy bailout.

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< p > < strong > focusing on CCTV 2014 315 evening party < /strong > < /p >

"P > 315 will affect the list of listed companies. Xi Jinping, the head of the Central Committee of the Central Committee of the Communist Party of China, and the head of the central leadership of the Central Committee of the Communist Party of China, will make the third round of inspections of the Central Committee of the central Military Commission, which will expand the amplitude of the RMB exchange rate against the US dollar from 1% to 2%. Last year, the official reception fee of the central state organs was reduced by 50%. The Jingdong Dangdang sold cosmetics into the routine sampling inspection, and the daily difference of the public exchange rates widening < /p >

The fluctuation rate of RMB to us dollar has increased to 2%. That is to say, the daily trading price of RMB against the US dollar in the inter-bank spot foreign exchange market can fluctuate within 2% of the daily price of RMB against the US dollar.

Take RMB 6.1346 against the US dollar in March 14th, for example, the exchange rate fluctuation on that day should not exceed 6.0119 - 6.2573.

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At the same time, foreign exchange designated banks provide customers with the difference between the maximum US dollar spot selling price and the minimum spot purchase price on that day. The difference should not exceed the intermediate rate of the day exchange rate from 2% to 3%. P

For ordinary citizens, banks can exchange foreign currencies at different times in a day, and prices may vary greatly.

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< p > this is the fourth time since 1994 that the central bank has adjusted the volatility of the RMB exchange rate.

In 1994, the floating rate of RMB exchange rate was 0.3%, expanded to 0.5% in 2007, and expanded to 1% in 2012. This floating range has been implemented for 2 years.

The central bank said that expanding the floating rate of exchange rate fully considered the adaptability of the main body of the economy, advancing step by step, and the range of adjustment could be borne by all kinds of market subjects.

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Lu P, chief economist of Industrial Bank (market), thinks that the decision is in line with expectations, but the magnitude is lower than previously estimated 2.5%-3.0%, indicating that the authorities are still more cautious.

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< p > < strong > the central bank will basically withdraw from normal foreign exchange intervention < /strong > < /p >.

< p > Zhao Qingming, a financial expert, said that simply expanding the floating interval is of little significance. Actually, let the market play a role in the exchange rate formation mechanism and form a flexible exchange rate. There are three main tasks: first, to relax the principle of real demand, to allow investment in speculative foreign exchange pactions; two, to withdraw from normal intervention, to release the spot trading market maker to make the market; and the three is to develop a more standardized and pparent exchange market.

If the breadth and depth of the market can not be expanded, only by amplifying the fluctuation range, the elasticity of exchange rate will not only improve, but will strengthen the market's consistent unilateral expectations, resulting in overshoot of exchange rate and adverse effects on the real economy, and will lead to more abnormal cross-border capital flows.

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Before P, the central bank intervened in the foreign exchange market by setting the daily median price.

The central bank said yesterday that the reform of the RMB exchange rate formation mechanism will continue to move forward in the direction of marketization.

The central bank basically withdrew from normal foreign exchange intervention and established a managed floating exchange rate system based on market supply and demand.

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< p > < strong > focus > /strong > /p >

< p > < strong > < a > href= > http://www.91se91.com/news/index_cj.asp > RMB > /a > the end of the continued depreciation process < /strong > /p >

Less than p ago, the continuous depreciation of the RMB against the US dollar triggered concern.

The central bank said yesterday that expanding the exchange rate volatility is an institutional arrangement to enhance the two-way floating flexibility of the RMB exchange rate, which is not directly related to the rise or fall of the RMB exchange rate.

Two way floating means that the appreciation and depreciation of the RMB exchange rate in the short term can not simply be attributed to a certain trend, and we should pay more attention to the trend of the medium and long term.

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Since P was reformed in 2005, the RMB has maintained a unilateral appreciation against the US dollar, so far it has appreciated more than 30%.

The central bank said that with the advance of the reform mechanism of exchange rate marketization, the future RMB will be the same as the major international currencies.

Participants in the market should take a rational view of exchange rate fluctuations and actively respond to them.

Of course, if the exchange rate fluctuates exceptions, the central bank will also implement the necessary regulation and management to maintain the normal fluctuation of the RMB exchange rate.

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< p > Lu commissar believes that the expansion of the exchange rate by the central bank means that the process of RMB's continued depreciation will basically come to an end after that, thus entering a two-way floating stage.

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< p > < strong > enlarging the fluctuation of exchange rate, and affecting the enterprises. < /strong > < /p >

< p > from fixed exchange rate to fluctuating floating exchange rate, Chinese enterprises are facing greater challenges.

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< p > however, compared with developed countries and emerging market countries, the RMB exchange rate is small or fluctuating in real terms.

From a global perspective, the currencies of major developed economies such as the US, Europe and Japan are floating freely. Other countries that have managed floating exchange rates have a much larger floating rate than the renminbi.

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Less than 2% of the exchange rate volatility is still small in the world, and will not cause significant impact on enterprises and financial institutions, and will help enterprises and financial institutions raise their sense of risk, P said.

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< p > the central bank said that since the reform in 2005, enterprises have been more effective in managing exchange rate risks, and the flexibility in dealing with exchange rate fluctuations has been further enhanced, and the ability to adapt to the managed floating exchange rate system has been significantly improved.

On the whole, expanding the floating range is beneficial to < a href= "http://www.91se91.com/news/index_c.asp > /a >, and residents pay more attention to the role of exchange rate as the price element of market allocation of resources, improve the efficiency of resource allocation and enhance the elasticity of macroeconomy.

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