RMB Exchange Rate Five Consecutive Fall, Textile Industry Will Benefit
After RMB's accession to SDR, the market is right.
Devaluation of RMB
The expectation has reached a new high point again, and the RMB exchange rate against the US dollar has seen a new trend of depreciation.
There is weakness inside.
economic data
The impact of the Fed's interest rate hike continued to grow. In recent days, not only has the renminbi depreciated against the US dollar's spot price and FOB price, even the central parity of RMB against the US dollar, which represents the will of the central bank, has opened 5 consecutive falls, setting a new low since August 20, 2011.
Yesterday, the interbank foreign exchange market RMB to us dollar exchange rate intermediate price was 6.4236 yuan, compared to the previous trading day once again depreciated 96 basis points.
From the 6.3851 yuan in December 4th, the central parity of RMB has depreciated for 5 consecutive days.
This price also refreshed the three and a half month lows since the one-off depreciation in August 11th.
The recent weakening of the RMB exchange rate is partly due to the poor performance of a number of recent economic data. The data released by the central bank on the 7 day show that as of the end of November 2015, China's foreign exchange reserves amounted to US $3 trillion and 438 billion 284 million, which was 87 billion 223 million US dollars lower than the end of October, hitting the lowest level since the end of 2013, with a total decrease of 405 billion US dollars during the year, which made the worries about capital outflow suddenly increase, and the import and export data released on the same day were equally bad, and the growth rate continued to be negative. On the other hand, the Fed's interest rate increase affects the global capital market.
Boots
"Soon to land" also raised the US dollar index continuously, and the non US currencies, including the renminbi, generally weakened against the US dollar.
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