The Yuan Traded Against The US Dollar For The First Time In A Month.

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< p > in the background of the continuous rebound of US dollar, the central parity of RMB against the US dollar has been weakening in recent days. This Monday (July 7th) hit a new low in one month.

At the same time, the RMB exchange rate against the US dollar is relatively strong under the support of the foreign exchange settlement.

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< p > according to China's < a href= "http://www.91se91.com/news/index_s.asp" > foreign exchange < /a > trading center, the RMB exchange rate between the RMB and the US dollar in the interbank foreign exchange market in July 7, 2014 was 6.1658, up 16 basis points from the previous trading day (July 4th), falling for the fourth consecutive trading day and the lowest level since June 6th of this year.

Last week, in the international foreign exchange market, the US dollar index rose sharply to 80.37 and 0.09% on Friday as a result of the strong US non farm data and unemployment rate released on Thursday. The market participants believe that the overall pattern of the current market is still favorable for the US dollar in the long run, "said.

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< p > while the US dollar rebounded and suppressed the middle price of the RMB, the RMB exchange rate against the US dollar in the domestic interbank foreign exchange market was relatively strong.

On Thursday and Friday, the spot exchange rate continued to rise. This Monday still opened 8 basis points to 6.2035, and then quickly broke through the 6.20 pass.

As of 10:00 a.m., the spot exchange rate was 6.1996, up 47 basis points from last Friday's closing price.

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< p > at present, after the first half year's accumulated depreciation, the market has certain divergence for the next stage of RMB's trend.

Citigroup believes that since the RMB has depreciated more than 3% in the short term, the depreciation is basically in place, so the follow up should be a concussion. It is expected that by the end of this year, it will reach 6.12 yuan.

According to the latest report of Holland Cooperation Bank, the RMB exchange rate is still overvalued by about 10%, and it is expected to fall to 6.3 at the end of the year, and next year it will depreciate to 6.4. Its judgement is based on the risk factors that the Chinese real estate market may break out.

The Bank of China points out that the main reason for the recent sudden strengthening of the RMB spot exchange rate is that the macroeconomic data such as PMI, consumption, industry and export have been greatly changed and the stimulus of the European Central Bank's quantitative easing policy has been greatly improved. Taking into account that the RMB is approaching the equilibrium exchange rate, the possibility of "breaking six into five" against the US dollar in the second half of this year is unlikely. It is estimated that the RMB exchange rate will maintain a two-way fluctuation in the three quarter, and the possibility of significant unilateral depreciation or appreciation will be less.

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< p > July 7th, the middle price of other major currencies in the interbank market is RMB 1 yuan to RMB 8.3750 yuan, 100 yen to RMB 6.0483 yuan, 1 Hong Kong dollars to RMB 0.79555 yuan, 1 pounds to RMB 10.5904 yuan, 1 Australian dollars to RMB 5.7750 yuan, 1 New Zealand dollar to RMB 1 yuan, and Canada Dollar to < a href= "http://www.91se91.com/news/index_cj.asp" > RMB /a > yuan.

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