Latest Data On Foreign Exchange: 655 Appreciation Of RMB Offshore Exchange Rate

The RMB against the U.S. dollar offshore market has risen sharply, as of 7:20 this morning, the RMB against the U.S. dollar offshore exchange rate rose 655 points, according to the world

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According to the China foreign exchange trading center, the central parity of RMB against the US dollar was 6.8992 yesterday, which was 118 basis points lower than the previous trading day.

However, after the opening, there was a gradual appreciation of the RMB Offshore exchange rate and led to the upward trend in the offshore market exchange rate.

Data show that around 9:30 yesterday morning, the RMB to us dollar offshore RMB exchange rate was 6.8703.

Subsequently, the RMB exchange rate has seen a trend of appreciation.

By 4:30 p.m. yesterday.

The scope is further increased.

Around 7:20 today, the offshore exchange rate of RMB against the US dollar has risen to a maximum of 6.8048 points, with an appreciation of 655 basis points throughout the day.

Driven by the offshore market trend, the RMB exchange rate appreciation trend has also appeared in the onshore market. As of press release, the offshore RMB exchange rate appreciated to 6.8779 yesterday.

As for yesterday's huge appreciation of offshore market, Zhao Qingming, an expert on international financial issues, believes that this is mainly related to the strong dollar's coming to the end, and the US dollar index (100.4288, 0.1594, 0.16%) will also face further adjustment in the future.

Data show that yesterday, the US dollar index has dropped below 101 points, the lowest point to 100.7475 points.

The dollar index began to shake up after reaching a high of 103.809 points in January 3rd.

Recently, the US dollar index has repeatedly fallen below the 101 point.

According to the pricing mechanism of the RMB exchange rate, this has also promoted the rise of the RMB exchange rate.

"The bonus of President Trump on the stage is not unlimited for the US dollar."

Zhao Qingming further explained that at the same time, the economic recovery in Europe and emerging markets was accelerating and did not support the continued strengthening of the US dollar exchange rate.

The industry generally believes that this year's RMB dollar exchange rate fluctuations will become increasingly significant, but the overall trend of the RMB against the dollar exchange rate, there are differences.

Pan Davi, a global director of foreign currency strategy, believes that the overall RMB devaluation trend is still present this year, but the value of devaluation is small, and the minimum may be devalued to 7.2 close.

However, Zhao Qingming believes that as the dollar's strength has ended, the RMB exchange rate against the US dollar is likely to show an overall trend of appreciation.

He predicts that this year's exchange rate of RMB against the US dollar will be higher.

It will fluctuate between 6.60 and 7, while the possibility of breaking through the 7 pass is relatively small.

The exchange rate between the two currencies, also known as foreign exchange rate, foreign exchange rate or foreign exchange market, can be regarded as the value of one country's currency to another currency.

Exchange rate is also a financial means for all countries to achieve their political goals.

The exchange rate will fluctuate due to interest rates, inflation, national politics and the economy of every country.

The exchange rate is determined by the foreign exchange market.

The foreign exchange market is open to different types of buyers and sellers for extensive and continuous monetary pactions (foreign exchange pactions are carried out 24 hours a day except weekends), from GMT time 8:15 to GMT on Sunday, 22:00 Friday.

Spot exchange rate refers to the current exchange rate, while the forward exchange rate refers to the exchange rate quoted on the day and traded at a specific date in the future.

The rise and fall of foreign exchange cities will have an impact on import and export trade and economic structure, production layout and so on.

Exchange rate is the most important adjustment lever in international trade. The decline in exchange rate can play an important role in promoting exports and restraining imports.

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