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The RMB Exchange Rate Can Remain Basically Stable.

2015/3/4 20:14:00 28

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In response to the recent downward trend in the RMB exchange rate, the 4 member of the CPPCC National Committee, vice governor of the people's Bank of China and the director of the State Administration of foreign exchange, responded in Beijing, saying that China's economic fundamentals are stable and the RMB exchange rate can remain "basically stable on a reasonable and balanced basis".

At the beginning of the year of the sheep, RMB

exchange rate

Keep going down.

As of March 3rd, the spot exchange rate of RMB has approached the limit line for five consecutive trading days.

The official price of the RMB exchange rate announced on the 3 day was 1 yuan against the RMB 6.1543 yuan, down 30 basis points from the previous trading day, a record low of nearly three months since November 7, 2014.

In view of the market's expectation of increasing pressure on RMB devaluation, Yi Gang said in a speech on the CPPCC members' deliberations on the same day that one country's exchange rate is one of the most important barometers of the country's economic and financial situation. Although China's economy has already entered a new normal under the three period of superposition, China's economy is still stable, and the real exchange rate of RMB is still strong.

"In fact, in recent years, the trend of RMB is still very strong in the world currency.

In recent one or two years, if the dollar is the first strong currency, the renminbi can be said to be the top second. "

Yi Gang

For example, the remaining two major currencies, the euro and yen, all depreciated more than 10% against the US dollar in 2014, while the renminbi only depreciated by 2%. "So the RMB's effective and effective exchange rate for the global basket of currencies is still strong last year."

Yi Gang gave four reasons for judging the stability of the RMB exchange rate.

First, China's economic growth prospects are still improving.

Although in the new normal, from high speed to high speed, but from a global perspective, GDP (GDP) growth is still very fast.

The two is China.

Balance of payments

The current account still has a large surplus recently, and trade exports are greater than imports. This also constitutes an important basis for the foreign exchange market.

The three is the rapid development of RMB internationalization in the past five years.

Now Asset Management Co and asset managers are willing to allocate more renminbi assets, which means that the global demand for RMB has expanded, providing a stable foundation for the renminbi.

Four, both Chinese and foreign enterprises and residents are optimizing their respective balance sheets, which has also laid an important role in the RMB.