Offshore RMB Is Difficult To Recover Near The Middle Price.

The renminbi dropped slightly against the US dollar on Tuesday, but fluctuated slightly around the middle price, even though the US dollar index rose to a seven month high.

The middle price ended ten consecutive falls today, and the market was afraid of the pressure from regulators to intervene in the market.

Traders said that yesterday's offshore renminbi rose sharply after 6.4 resistance, although no intervention today, but resistance is still in place, the offshore renminbi in the middle price is difficult to pick up.

They pointed out that although the US index has gone up today, the renminbi has not declined significantly, because the market expects the regulators to expect too much difference between the domestic and international markets, and the market still has intervention expectations.

The short-term market trend is mainly based on the wishes of the central bank, the US dollar index and the SDR resolution.

"Look overseas today to see if the central bank will fail overseas.

In the two days, the desire to sell short (US dollars) will be stronger, but it will not work. After all, there are more people buying in the US.

A stock trader said.

Global

On the other hand, the dollar rose to a seven month high in Asia on Tuesday. Investors' attention shifted from the Paris terrorist attacks to the rising Federal Reserve /FED expected to raise interest rates next month.

Overseas non deliverable Forex foreign exchange (NDF) market,

The latest report of the one year variety is 6.5685 yuan, and the last 6.5675 days are on the last day.

Hongkong's offshore RMB against the US dollar is up to 6.3996/6.4005 yuan on the spot, and the last trading day is 6.4002 yuan.

He also pointed out that the widening of the difference between domestic and overseas markets will increase arbitrage.

"Not only foreign investment banks but also clients are arbitraging.

Far away from the plus point can not be done, then we can only do arbitrage at home and abroad.

The trader said.

With the resolution date of RMB accession to SDR approaching, RMB

There are new moves.

The people's Bank of China said Tuesday that the quota of Singapore's qualified foreign institutional investor (RQFII) was extended to 100 billion yuan, and Monday announced that it would renew the bilateral currency swap agreement with the Central Bank of Turkey, expanding the scale of exchange to 12 billion yuan /50 billion lira.

At 13:36 Beijing time, the renminbi was 6.374 yuan against the US dollar and 6.3724 yuan on the previous day.

Today, the central parity of RMB against the US dollar is 6.374 yuan, and the middle price of the day is 6.375 yuan.

The spot turnover of RMB against the US dollar was US $5 billion 787 million, which was $5 billion 538 million for the first half of the day.

The exchange rate of China's foreign exchange trading center today is 11 RMB against the US dollar, and the reference rate is 6.3725.

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.

The Central Bank of China announced in August 11th that it would improve the quotations between the RMB and the US dollar in order to enhance its marketization and benchmarking.

Since then, the market maker will quote the closing rate of the interbank foreign exchange market in the daily interbank exchange market before considering the foreign exchange supply and demand as well as the exchange rate changes of the international major currencies, and offer the middle price quotation to the China foreign exchange trading center, with a one-time depreciation of nearly 2%.