What Are You Waiting For?
September 2nd foreign exchange Valley portal: the RMB against the dollar on Tuesday (September 2nd) in the mid afternoon on Monday closing price devaluation direction narrow fluctuation, the middle price slightly derogatory to nearly 3 months low, the offshore market RMB trend is weak, the domestic spanaction price overall weak oscillation.
The US dollar / RMB inquiry system was reported at 6.1447 noon and 6.1428 on Monday. The central parity of US dollar / RMB central bank was 6.1684, and Monday's middle price was 6.1680.
In the overseas non deliverable forward foreign exchange (NDF) market, the US dollar / Renminbi one year variety is newly reported at 6.2290/10, ending on Monday at 6.2250. The latest offshore dollar / RMB spot report in Hongkong was 6.1489/06, and the last trading day was 6.1456.
Traders said that the amount of foreign exchange purchased in the morning market was too high, but the possibility of short-term appreciation of the renminbi is still large.
RMB At present, the investment (arbitrage) attribute is greater than the hedging attribute, and if the Chinese government has a more open mind to "unseal the market", the risk avoidance property of the renminbi will increase enormously.
As the world's most important reserve currency The US dollar, as well as the unique political and financial status of the Swiss franc, are traditional hedge currencies.
Some economists pointed out that China's economic prospects are good, its current account is relatively stable, the internationalization of the RMB continues to be promoted, and the exchange rate is dominated by the central bank.
The low volatility of the exchange rate and the prospect of relative resistance are one of the reasons for choosing the debt of investment. China's continuous promotion of financial reform and liberalization of the market will contribute to the continued appreciation of the renminbi.
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