In Recent Days, There Have Been Some Fluctuations In The Market. Some Big Renminbi Has Continued To Adjust Against The US Dollar.

RMB against the U.S. dollar on Wednesday (October 14th) intraday continued to fall, but strong support near the 6.3470-6.3480, the central price has been substantially reduced, all the amount of back up.

The US dollar / RMB inquiry system was reported at 6.3470 noon and 6.3429 on Tuesday.

The central parity of US dollar / RMB central bank was 6.3408, and Tuesday's middle price was 6.3231.

The spot turnover of RMB against the US dollar was US $7 billion 623 million, which was US $9 billion 900 million on Tuesday.

In the overseas non deliverable Forex foreign exchange (NDF) market, the latest US dollar / Renminbi variety was 6.5040 at the latest and 6.4935 at the end of Tuesday.

The latest offshore dollar / RMB spot in Hongkong is at 6.3458/6.3469, and the last trading day is 6.3412..

China's early September CPI rose from the 1 year high point hit last month and is expected to remain low until the end of the year. PPI's decline is unchanged from its previous value, which has been negative for 43 consecutive months. The threat of deflation has once again increased to provide new space for easing policy.

The Central Bank of China will collect foreign exchange risk reserves from financial institutions for forward selling and foreign exchange business from October 15th. The reserve rate will be provisionally set to 20%.

Analysts believe the move is intended to increase the current popularity of offshore and offshore banks.

Increasing the cost of forward purchase of foreign exchange is conducive to the overall stability of the RMB exchange rate.

Traders pointed out that the latest announcement of September

It shows that China's economic fundamentals are still weak, so that the depreciation of the renminbi is expected to increase slightly, and the demand for foreign exchange purchase by passenger exchanges is slightly increased.

Offshore renminbi (CNH) price fluctuations are basically the same as those on the shore. The exchange rate between the two places converge or become a new normal. Attention should be paid to the potential impact of the bank's first turn over to the foreign exchange risk reserve on Thursday. At present, the derivatives market such as swap is relatively calm.

The traders said the volatility of the market was somewhat large for several days.

The overall situation is not good. The spot should still fluctuate in the large range. The trend trend is unlikely.

The US dollar / RMB exchange rate rose 1165 points in the year, down 1.27% from Tuesday's close, while the offshore RMB one year swap rose to 1500/1520 points, up 1.35% from Tuesday.

As for the international exchange market, Sanya and Australia are still hard to see in the week of the Aussie and New Zealand dollar. The US dollar index is also near the low of three and a half weeks. The further signs of China's economic weakness are that the Fed will have to wait longer for the fed to tighten its policy.

The foreign exchange trading center on Wednesday updated 11:00 yuan to the US dollar at a reference rate of 6.3462.

Beijing time 12:19, USD / RMB 6.3450.