The RMB Exchange Rate Did Not Depreciate Substantially.

The reporter learned from the China foreign exchange trading center that in May 23rd, the exchange rate of RMB against the US dollar was 6.5455, up 55 basis points from the previous trading day.

The difference between the offshore and offshore markets has narrowed. As of press release, the offshore RMB exchange rate was 6.5508, down 15 basis points from the previous trading day, and the RMB exchange rate in the offshore market was 6.5609, up 38 basis points from the previous trading day, and the Cross Strait Exchange Rate narrowed to 101 basis points.

The Fed raised interest rates expected to rise last week.

Volatility has intensified, and RMB exchange rate volatility has increased significantly.

Zong Liang, deputy director of the International Finance Research Institute of the Bank of China, told reporters that at present, the RMB exchange rate has formed a different regulatory mechanism from the past, that is, referring to the trend of a basket of currencies.

A reference to a basket of currencies for the RMB exchange rate means that the changes in the international situation will be considered, rather than simply pegging the US dollar. Therefore, the recent two-way fluctuation of the RMB against the US dollar is also a normal reaction under the frame of reference to a basket of currencies.

Liu Chenjie, chairman of Upright Captial, and 50 Member Forum of China's new supply economics, said at the "new round table RMB conference" in May 22nd. "In terms of the trend of short-term exchange rate, from the international market, the US interest rate hike is in July this year or a window period.

China's inflation is still relatively mild in the domestic market.

There is no need to fight inflation.

In the future, the steady growth will be slowed down, and the economic growth in the second quarter and the third quarter is expected to stabilize at least 6.5%.

Liu Chenjie believes that cross border funds are mainly affected by the three major factors, such as exchange rate trend, Sino US interest rate spread and economic fundamentals difference. In a comprehensive view, the third quarter of 2016 is expected to flow out.

The pressure will ease.

"In terms of economic fundamentals, the RMB exchange rate is not much depreciated, and even if there is a certain pressure of depreciation, it will rebound if driven by the internationalization of RMB."