RMB'S Prompt Rise Is Driven By Net Settlement Pattern.

At the close, the US dollar / Renminbi inquiry system closed at 6.1434, a decrease of 92 points compared with the previous trading day.

Traders said that the recent rapid conversion of the market was closely related to the rise of the international dollar. However, China still showed more net settlement pattern, pushing up the RMB's rise; and the recent strong strength of the international dollar may make the domestic RMB exchange market continue to be bilateral concussion.

According to the data released by Hongkong Finance Association, the fixed price of US dollar / Renminbi (Hongkong) spot exchange rate in August 27th was 6.1471/75.

"The pressure of foreign exchange is very large, and the bullish mood is very strong. Recently, the market has been changing quickly and frequently.

A big trader in the state pointed out.

A joint-stock bank trader pointed out that the opening of the renminbi rose today, indicating that the market's attitude towards RMB appreciation is the same. In the short term, as long as the international dollar does not appreciate as strongly as other days in the other major currencies, the RMB still has room for improvement, but it is still a two-way rhythm and will not stabilize its appreciation unilaterally.

Most Asian emerging currencies rose on Wednesday and ROK rose to a seven week high, encouraging Asian stocks to rise to nearly seven year highs as the market speculate that the ECB will expect more stimulus measures.

Over the past 1 years, the US dollar / RMB non deliverable forwards were quoted at RMB 6.2210/30 yuan.

Global exchange market

Wednesday hit a 13 month high while the euro continued to be in distress as investors expected the ECB to relax further.

The RMB inquiry system closed at 0.79267, down 12 points from the previous trading day, and the 100 yen / RMB inquiry system closed at 5.9115, a decrease of 113 points compared with the previous trading day; the euro / Renminbi inquiry system was reduced by 8.0977; compared with the previous trading day, it reduced by 233 points; the pound / RMB inquiry system was closed at 10.1734, which was reduced by 237 points compared with the previous trading day; the Australian dollar / Renminbi inquiry system was 5.7341, an increase of 93 points compared with the previous trading day; the New Zealand dollar / RMB inquiry system was reduced to an average of more than that of the previous trading day; the Canadian dollar / Renminbi inquiry system was closed, increasing by more than the previous trading day.