The Yuan Opened Against The US Dollar For 6.1930 Consecutive Days And Depreciated For Three Days.

On the morning of March 19th, the spot exchange rate of RMB against the US dollar opened at 6.1930 today, which is 10 basis points lower than the closing price of the previous trading day. Since the central bank decided to expand the volatility of the RMB exchange rate, the spot exchange rate has depreciated for three consecutive trading days. The exchange rate of the spot exchange rate has been reduced by 10. At 9:15 today, the central bank announced that the central parity of RMB was 6.1351, with a slight depreciation of 10 points.

On Tuesday, the renminbi dropped to more than 11 months low against the US dollar (March 18th). The exchange rate volatility dropped 424 points on the two day, and the two-way volatility intensified. The central bank announced that the middle price continued to weaken slightly, and the market sentiment was further aggravated.

Traders said yesterday that the territory US dollar price High prices attract customers to release large quantities of settlement plates, pushing the exchange rate to a high level of 6.1772. However, China's large banks are buying foreign exchange aggressively, and there are also self run businesses to keep pace with them, forming a market of wide and wide shocks.

Another stock line trader pointed out that a key point at present is the 6.20 integer pass point, to see the psychological level of regulators. What the market is more concerned about is when the volatility will be extended, and when will regulators deregulation the daytime fluctuation management of the exchange rate.

Data released yesterday showed that in February Financial institution The increase in foreign exchange has dropped from 437 billion 366 million yuan in January to 128 billion 246 million yuan, a decrease of around 71%. This is a seventh month positive increase in foreign exchange holdings in financial institutions, but the growth rate has reached a new low of 5 months, and is significantly lower than market expectations.

This data indicates that since the middle of February exchange rate Depreciation is not the result of the central bank's intention to depress, but the supply and demand of the market.

On Thursday morning, the Federal Reserve will announce the resolution on monetary policy. This is also the first time that the first woman chairman of the Fed has hosted the FOMC meeting for the first time in the history of the Yellen. The market expects that the Federal Reserve will continue to reduce the size of the $10 billion debt purchase. The focus is mainly on changes in the forward-looking guidance of the Fed's rate hike.

The people's Bank of China authorized the China foreign exchange trading center to announce that the RMB exchange rate in the interbank foreign exchange market in March 19, 2014 was RMB 1 yuan to RMB 6.1351 yuan, 1 euro to RMB 8.5453 yuan, 100 yen to RMB 6.0562 yuan, 1 Hong Kong dollar to RMB 0.79003 yuan, 1 pounds to RMB 10.1824 yuan, 1 Australian dollar to RMB 1 yuan, New Zealand dollar to RMB yuan, RMB Canadian dollar to RMB yuan, RMB yuan to ringgit, RMB yuan to Russia ruble.