Will The Yuan'S Price Go Down Again?

< p > after 28 days, the RMB against the US dollar dropped 153 basis points in the spot market. The yuan against the US dollar 29 "a href=" http://www.91se91.com/news/index_cj.asp "> intermediate price < /a > hit a new low in the year, causing many financial institutions to readjust their expectation of RMB exchange rate in the year.

On the 29 day, the central parity of RMB against the US dollar was 6.1705, which continued to decline compared with the previous trading day.

The low price of the RMB against the US dollar is closely related to the strength of the US dollar index in the international market.

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Analysts at the control center, < p > a href= "http://www.91se91.com/news/index_cj.asp" > exchange rate risk < /a >, said that a considerable number of banks were buying foreign exchange, which accelerated the depreciation rate of RMB.

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< p > because the RMB no longer appreciates unilaterally, Morgan, chief economist of J.P. chase Zhu Haibin, released the latest report, which lowered the forecast value of RMB to us dollar from 6.05 to 6.15 this year, and adjusted the exchange rate in 2015 to 6.10.

The report shows that the change in the RMB trend is mainly affected by three factors, including the decline of China's economic growth, the central bank's control of < a href= "http://www.91se91.com/news/index_cj.asp" > foreign exchange < /a > accumulation rate of accumulation and market technological adjustment.

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In Zhu Haibin's view, by introducing the two-way volatility mechanism, the central bank can suppress speculative capital inflows and support exports, focusing on the implementation of monetary policy in China at P.

Although the market's expectations for the unilateral appreciation of the renminbi have basically subsided, analysts generally believe that the recent devaluation of the renminbi is not a trend of depreciation, and there is still room for a moderate appreciation of the renminbi.

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First, the interest rate at home and abroad determines that the RMB is still an attractive currency. Secondly, the continued weakening of the RMB will hinder the internationalization of RMB. Thirdly, although the RMB is no longer a hot topic of Sino US relations in the near future, the continued weakening of the RMB exchange rate may be under the pressure of the main trading partners. P

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< p > "considering that China's economic growth prospects are still uncertain, it is unlikely that the renminbi will soon return to the path of appreciation."

Chang Jian, an economist from Barclays Capital, said, "but the central bank will not tolerate one-way depreciation expectations and massive capital outflows."

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