The First Trading Day Of The Increase In Exchange Rate Volatility Is Stable.

< p > 17 is the first trading day when the central bank announced that the floating rate of RMB against the US dollar exchange rate expanded from 1% to 2%.

Data from the China foreign exchange trading center showed that the central parity of RMB against the US dollar was 6.1321, up 25 basis points from the previous trading day.

In the spot market, there has been a fall in the renminbi, but it has not yet fallen below the 1% level.

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< p > analysts believe that the further increase of exchange rate elasticity will help to curb abnormal capital flows and promote the pace of China's financial market reform.

For enterprises, it is necessary to further enhance the ability to manage exchange rate risks.

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< p > according to the data of China foreign exchange trading center, the RMB on the spot market for the 17 day was 6.1781 against the US dollar, down 460 basis points from the middle price, and the decrease was 0.75%.

The lowest in the market was close to 6.19.

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< p > professor Ding Zhijie, School of finance, University of foreign trade and economics, said that the exchange rate of RMB against the US dollar < a href= > http://www.91se91.com/news/index_c.asp > paction price < /a > was relatively stable on the first trading day, and there was no significant depreciation or appreciation. This is in line with expectations.

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< p > Liu Dongliang, senior analyst of China Merchants Bank (9.59, 0.03, 0.31%) financial market department, said the first trading day was relatively stable and did not exceed expected volatility.

The reason is that the mentality of the organization is more cautious, and it needs to give the market a pitional period to truly reflect the market situation.

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< p > financial expert Zhao Qingming pointed out that the floating rate of RMB to us dollar exchange rate has further expanded, which does not necessarily mean that the exchange rate will rise sharply.

On the contrary, various operations in the market will be more prudent, which will help maintain the stability of the exchange rate market.

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Since the fourth quarter of last year, China's cross-border capital has shown a larger net inflow of P.

In January 2014, the bank posted a surplus of $73 billion 300 million in spot sales and a surplus of US $25 billion 400 million in forward foreign exchange settlement (contract), all of which reached a record high.

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< p > Zhao Qingming said that when the floating rate of RMB to us dollar exchange rate expanded, the risk of two-way fluctuation of RMB exchange rate increased, narrowing the space of risk-free arbitrage and inhibiting the inflow of hot money.

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< p > analysts pointed out that the further increase of exchange rate elasticity will increase business settlement and personal a href= http://www.91se91.com/news/index_c.asp, and exchange rate risk < /a >, which requires foreign trade enterprises and individuals to be prepared.

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< p > Ding Zhijie said that since the reform of the exchange rate, the exchange rate of RMB against the US dollar has basically maintained its appreciation.

For enterprises, in the past, they could achieve good exchange earnings by simply doing more Renminbi and shorting the US dollar.

With the further expansion of the volatility, the two-way volatility of RMB will be further enhanced, and unilateral arbitrage will be faced with great risks.

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< p > he suggested that on the one hand, enterprises should raise the risk awareness of < a href= "http://www.91se91.com/news/index_c.asp" > exchange rate > /a > strengthen exchange rate risk management, especially avoid unilateral bet.

On the other hand, with the increase of exchange rate risk, some institutions will provide some complicated derivatives. Investors should be cautious and wait to avoid falling into possible traps.

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< p > Zhao Qingming said that some labor-intensive foreign trade enterprises are facing fierce competition in the international market and have little profit.

Such enterprises can first avoid increasing exchange rate risk by adding contracts in the contract, such as clearing Renminbi or adjusting prices with exchange rate fluctuations.

Secondly, enterprises should learn to make good use of exchange rate risk management tools.

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< p > for the next direction of exchange rate reform, analysts suggest that we should further improve the RMB exchange rate formation mechanism and let the market play a decisive role in the exchange rate formation mechanism.

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< p > Zhao Qingming suggested that the principle of real demand in foreign exchange market can be relaxed, allowing foreign exchange investment and speculative pactions aimed at obtaining foreign exchange differences, and excavating the price discovery function in foreign exchange market.

In addition, strengthening the construction of foreign exchange market and launching field trading are also more conducive to the market's exchange rate discovery function.

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