RMB Exchange Rate Volatility Adjustment May Be Possible.

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< p > the central bank issued a notice yesterday afternoon, and decided that from next Monday, the floating rate of RMB against the US dollar in the inter-bank spot foreign exchange market will be expanded from 1% to 2%.

The central bank concerned pointed out that expanding the floating range of the RMB exchange rate is an institutional arrangement to enhance the two-way floating flexibility of the RMB exchange rate, and has no direct relationship with the RMB exchange rate rise or fall.

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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 > 315 will affect the list of listed companies. Xi Jinping made the third round inspection of the Central Committee of the Central Committee of the Communist Party of China, the head of the central leadership of the Central Committee of the Central Committee of military affairs. The amplitude of the RMB exchange rate against the US dollar from the COFCO group expanded from 1% to 2%. Last year, the official reception fee of the central state organs was reduced by 50%. Jingdong Dangdang sold the cosmetics into the routine sampling inspection for 4 years and relaxed the < /p > 20 years.

According to the central bank announcement, since March 17th, the floating rate of RMB against the US dollar in the inter-bank spot foreign exchange market has expanded from 1% to 2%, that is, the daily trading price of RMB against the US dollar in the inter-bank spot foreign exchange market can fluctuate within the range of 2% of the central parity of RMB against the US dollar on that day.

The designated foreign exchange banks provide the difference between the maximum US dollar spot selling price and the minimum spot purchase price on that day. The range of the intermediate price should not exceed that of the current exchange rate from 2% to 3%.

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< p > allowing the RMB exchange rate to float since 1994, when the floating rate was 0.3%, expanded to 0.5% in 2007 and expanded to 1% in 2012.

The central bank said that after 2 years or so, the further expansion is a gradual reform arrangement which is safe and sound.

At the same time, we should expand the floating rate of exchange rate, fully consider the adaptability of the economic entities, step by step, and adjust the range within the range of various market subjects.

On the whole, it is appropriate to extend the floating rate of RMB to us dollar to 2%, and the risk is relatively small.

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< p > < strong > stir frying RMB or possibly < /strong > /p >

< p > aiming at the new exchange rate policy of the central bank, a commercial bank capital trader thinks that in the past long time, the RMB has been appreciated unilaterally, and most enterprises have relatively little experience in dealing with the exchange rate fluctuation.

With the further expansion of exchange rate volatility, the two-way fluctuation of exchange rate will become the norm. Enterprises must pay more attention to the factors that may affect the RMB exchange rate in domestic and international markets, and deal with the challenges brought by exchange rate changes more frequently and flexibly.

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< p > Liu Dongliang, senior analyst at China Merchants Bank head office, believes that the two way wave is coming, so it is possible to stir up RMB.

The bank funds Department told reporters in Nandu that it can be predicted that the RMB exchange rate will be more active after the fluctuation of RMB exchange rate.

Commercial banks must provide more abundant foreign exchange products and more exchange rate trading products for the market, and the application of foreign exchange option products will also go up to a higher level.

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< p > < strong > the central bank reserves the middle price and affects the market < /strong > /p >

< p > the central bank said yesterday that the expansion of the people's a href= "http://www.91se91.com/news/index_s.asp" > exchange rate > /a > floating interval is the institutional arrangement to enhance the two-way floating elasticity of the RMB exchange rate, and has no direct relationship with the RMB exchange rate rise or fall.

"The change in the RMB exchange rate is mainly determined by the supply and demand of foreign exchange based on the balance of payments."

The central bank said, "the exchange rate of the renminbi does not exist on the basis of a substantial appreciation, and there is no basis for a substantial depreciation.

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.

With the advance of the reform mechanism of exchange rate marketization, the RMB will have the same flexibility as the major international currencies in the future.

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"P", the head of the capital market department of a joint stock bank, said yesterday: "the central bank's new policy of exchange rate reform is increasing the flexibility and flexibility of the spot exchange rate market. At the same time, the central parity pricing mechanism of RMB exchange rate is retained for the sake of influence and guidance to the intervention of the exchange rate market.

This shows that our RMB has not yet formed a fully market-oriented pricing mechanism, reflecting the central price of the central bank will still have a strong influence on the market.

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< p > < a > href= > http://www.91se91.com/news/index_c.asp > Central Bank < /a > the people yesterday clearly stated that if the exchange rate fluctuates exceptions, the necessary regulation and management will also be carried out to maintain the normal fluctuation of the RMB exchange rate.

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