RMB'S Immediate Derogatory Suspected Reverse Intervention To Curb Decline

The spot exchange rate of RMB P against the US dollar closed more than 16 month low on Friday and intraday, reversing the middle price, and most of the time fluctuated above 6.25 yuan.

Traders said they were mainly driven by net purchases of foreign exchange, but there was a significant exchange settlement between them.

< /p >

< p > > they believe that a href= "http://www.91se91.com/news/index_c.asp" > foreign exchange purchasing power > /a > is still being strengthened, especially the recent price gap with CNH has reversed, and the price of foreign exchange purchase in domestic market is even better, which makes the purchase of foreign exchange in oil pan more obvious.

This also shows that the offshore market is expected to strengthen the devaluation.

< /p >

< p > "this wave of depreciation is indeed a market behavior, and everyone's own purchase of foreign exchange has devalued the renminbi." a share trader said, "(US dollar) price is still high, and the market expectation has been reversed."

< /p >

< p > he also pointed out that since the price of CNH has recently been above the domestic price, the oil pan has appeared every day, and the pressure of RMB depreciation is also increasing.

However, the central parity of these days continues with the international dollar weakness, indicating that the central bank does not want the market to continue to depreciate.

< /p >

< p > many traders said that when the a href= "http://www.91se91.com/news/index_c.asp" > exchange rate < /a > when the depreciation was close to 6.26 yuan, there was an obvious a href= "http://www.91se91.com/news/index_c.asp" > large exchange settlement > /a >, which made the exchange rate rebounded rapidly.

Today, the yuan was once derogated to 6.2583 yuan, which deviated 1.64% from the middle price, the highest level since March 15th, and the largest floating rate since RMB exchange rate reform.

< /p >

< p > Zhao Qingming, an expert on international financial issues, believes that the possibility that the RMB will continue to depreciate at the current price level is less likely. "If there is a consistent expectation of depreciation, there will be pressure from the hot money outflow and capital flight, and further attack on the weaker macro-economy may also serve as an excuse for international capital to empty China's economy and short China."

< /p >

In the global market, the US dollar remained stable near the low of a week on the five day of the week. It was difficult for us to take action. The tense situation in Ukraine weakened the optimism surrounding the US economic growth. P

< /p >

< p > China's State Administration of foreign exchange said on Friday that the balance of payments in the first quarter continued to show a "double surplus" pattern. The market expects that the balance of payments will be more balanced in the two quarter, and the exchange rate changes and the expected exchange rate changes will ease the pressure of capital inflow in the two quarter.

< /p >