Time Or Variable For RMB To Enter SDR (Special Drawing Right)

On Friday (November 13th), the renminbi fell slightly against the US dollar, and it hit a half month low with the central parity of nine consecutive falls.

Traders said that the credit default risk of Chinese enterprises detonated and increased the expectation of RMB devaluation. The accumulated purchase of foreign exchange market today concentrated on the outbreak, and the US dollar bear pressure was forced to stop. The offshore renminbi also fell to more than one and a half months, and the spread between the two places expanded to nearly 400 points.

Traders pointed out that this week, the large trading settlement decreased, and there was no obvious intervention in the offshore and offshore markets, and the RMB buying rate increased significantly after the RMB fell below 6.37 yuan today.

Within the year

It should not depreciate significantly. Next week, though it may continue to depreciate, it will be difficult to break through the large area.

"Recently, there is no directionality, and personally feel that the price reference is quite poor recently, because the volume of trading is not large, and any news can pull prices up."

A share line trader said that the central bank recently reduced its intervention and led the market to the market as a whole.

Another stock trader thinks that

One of the reasons for the intervention is whether or not the other banks are in the process of helping them to settle their foreign exchange. In a certain position, the central authorities are ready to take the money, and some banks begin to empty the US dollar.

In the global market, the euro line is expected to rise on Friday. The euro fell 0.5% against the US dollar, still far above 1.0700.

It will collapse again.

The exchange rate of China's foreign exchange trading center today is 16 RMB against the US dollar, and the reference rate is 6.3736.

The foreign exchange trading centre began five times a day since August 24th, and issued a reference rate at 10 a.m., 11 p.m., 2 p.m., 3 o'clock and 4 o'clock respectively.

Traders also pointed out that at present, the time for RMB to join the SDR (Special Drawing Rights) is variable, and the market doubts are aggravated. Banks have already lost their accumulated Renminbi positions and banks have postponed the settlement plan.

Although the parties are optimistic that the yuan will have the opportunity to be included in the SDR basket at the end of this month, the November International Monetary Fund (IMF) has yet to announce the date of the SDR meeting.

Market participants have reminded that the RMB's accession to the SDR has been postponed repeatedly, and the market has become increasingly uneasy. In the near future, there must be psychological preparations for the increase in exchange rate fluctuations. However, the trend of RMB is still optimistic in the medium and long term.

The Shandong Shanshui Cement Group Limited announced late on Thursday (November 12th) that as of the end of the day, the company failed to raise the full amount of debt repayment funds in accordance with the agreement. Its issuance of 2 billion yuan principal and ultra short term financing bonds could not be paid in full.

The controlling shareholder's landscape cement has been submitted to the court for liquidation petition.