The Renminbi Rose Against The US Dollar In The Afternoon And Further Narrowed Off The FOB Price.

The renminbi rose slightly against the US dollar on Monday (September 22nd), while the intermediate price was slightly lower.

The supply and demand is relatively balanced, and the fluctuation range is narrow.

However, the offshore exchange rate has further appreciated, narrowing to 30 points below the onshore price difference, and arbitrage trading pressure has continued to ease.

The US dollar / Renminbi inquiry system reported 6.1382 yuan in midday, and it closed 6.1405 last Friday.

The central parity of the US dollar / RMB central bank was 6.1485, and last Friday the middle price was 6.1455.

In the overseas non deliverable Forex foreign exchange (NDF) market, the US dollar / Renminbi one year variety is newly reported at 6.2360/90, and last week's five was 6.2385.

The latest offshore dollar / RMB spot report in Hongkong was 6.1405/25, and the last trading day was 6.1440.

Traders pointed out that frequent occurrence last week.

Monday's performance of exchange settlement was not obvious, and the pressure of arbitrage trading eased again, which made the overall demand and supply of passenger disks more balanced than that of last week.

The narrowing of the offshore price shows that the efficiency of both markets is relatively high, and the arbitrage activity is active and can be filled quickly.

Gap.

Another trader said that the current price rebounded to 6.13-6.14 Yuan area, fluctuations still revert to market supply and demand.

In addition, Alibaba's listing in the US will raise large amounts of foreign exchange settlement.

Chinese e-commerce giant

Last Friday, listed on the NYSE, the initial public offering price was set at $68 per share, and the Underwriters would exercise the excess allotment rights to issue 48 million shares, thus raising the scale of financing to about $25 billion, becoming the largest IPO in history.

On the international exchange market, the US dollar / yen hovered near the 6 year high point on Monday, which is supported by the idea that the US interest rate rises will be expected earlier than expected.

Beijing time 13:02, the US dollar / Renminbi reported 6.1379.