RMB'S First Appreciation In July

< p > here, the world "a href=" //www.sjfzxm.com/ "target=" _blank "> clothing < /a > a href= '//www.sjfzxm.com/" target= "_blank" > shoes "cap net" is introduced to the central bank to quit the normalization intervention to end the RMB exchange rate of 4 consecutive prices.

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< p > < strong > /strong > experts say the trend of RMB exchange rate is largely determined by the market.

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< p > July 8th, the intermediate price of "a href=" //www.sjfzxm.com/news/index_cj.asp "> /a > US dollar ended the 4 consecutive trading days of depreciation, ushered in the first appreciation in July.

Data from the China Foreign Exchange Trading Center show that on the 8 day, the exchange rate of RMB against the US dollar was 6.1626, up 32 basis points from the previous trading day.

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< p > experts say that the recent announcement of China's PMI data and the stimulation of the quantitative easing policy of the European Central Bank, together with the sixth round of Sino US strategic and economic dialogue, will lead to more activity in the renminbi. But in the context of the overall stability of the central parity, the market sentiment is still more cautious and the balance of foreign exchange is still relatively balanced.

In the future, the RMB exchange rate will show signs of decline in the short term, but the decline is not large, and will still be dominated by stability.

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Ma Yuan, a macroeconomic researcher at CIC, said in an interview with reporters that the central parity of the RMB exchange rate is an official exchange rate determined by certain methods. It is an important reference for the spot inter-bank foreign exchange market and the listing price of banks. The impact of the middle price on the entire foreign exchange market is very huge. Recently, the concussion of the middle price of the RMB has also been affected by many factors. The interbank quotation, the US dollar exchange rate and the exchange rate policy will all affect the trend of the intermediate price.

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Compared with the rise in the intermediate price, the spot exchange rate of the renminbi remains P upward trend.

China's foreign exchange trading center data show that, on the morning of the 8 day, with the rise in the middle price, the RMB's spot exchange rate against the US dollar opened 40 basis points at 6.2000, and then dropped to 6.2020. At the end, it closed at 6.2022, up 18 points from the closing price of the previous trading day.

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< p > for the departure of the RMB intermediate price and the spot exchange rate, Ma Yao believes that the overall trend of convergence between the intermediate price and the spot price is convergent, and there may be some deviation in some time. The main factors leading to the divergence are trading demand and bank quotation system.

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< p > Liu Dongliang, senior analyst of the financial market department of China Merchants Bank, believes that the RMB exchange rate against the US dollar is not entirely consistent with the trend of the middle price, indicating that the central bank has gradually withdrawn from the normalization intervention in the foreign exchange market, and the trend of the market exchange rate is largely determined by the market.

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< p > "the stability of RMB will be further improved in the future."

Ma Yuan analysis said, on the one hand, the renminbi will be directly linked to more currencies and directly traded, and the influence of the US dollar in the RMB exchange rate system will gradually shrink. The omni-directional and three-dimensional foreign exchange market will gradually form. On the other hand, the role played by RMB in the international trade settlement process will gradually increase, and the enhancement of the RMB influence will promote the stability of the RMB exchange rate.

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< p > when referring to the trend of the future "a href=" //www.sjfzxm.com/news/index_s.asp "RMB exchange rate < /a >, Ma Yao said that the trend of the appreciation of the US dollar has already emerged. In the short term, the fall of the RMB against the US dollar is inevitable, the pace of RMB appreciation will slow down, and the influence of the US dollar on the RMB is also decreasing.

However, the RMB has played an important role in the trade process of China, Europe, China and Russia. The RMB will participate in direct trading as a settlement currency, and the stability of the RMB exchange rate in these markets will be enhanced.

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