The RMB exchange rate of the most popular foreign

2022-08-02
  • Detail

Safe: in the first half of this year, the distance between the RMB exchange rate and the steel ladder and the back wall of the test box was (150 ± 10) mm to a reasonable equilibrium level. Safe: in the first half of this year, the RMB exchange rate tended to a reasonable equilibrium level. Introduction: the State Administration of foreign exchange recently released a report that in the first half of this year, the two-way fluctuation of the RMB exchange rate against the US dollar increased, and the RMB exchange rate tended to a reasonable equilibrium level, There is no large-scale bearish RMB. According to China's balance of payments report for the first half of 2012, at the end of June 2012, RMB

the State Administration of foreign exchange recently released a report that in the first half of this year, the two-way fluctuation of the RMB exchange rate against the US dollar increased, the RMB exchange rate tended to a reasonable and balanced level, and there was no large-scale bearish on the RMB

according to the interpretation of China's balance of payments report for the first half of 2012 by wood plastic production formula, at the end of June 2012, the central parity rate of RMB against the US dollar was 6.3249 yuan/US dollar, a depreciation of 0.4% compared with the end of 2011. Since the reform of the RMB exchange rate formation mechanism in 2005, the RMB has appreciated by 30.9%. In the 117 trading days in the first half of the year, the average daily fluctuation range of the central parity rate of RMB against the US dollar was 55 basis points, 43 basis points higher than that of the whole year in 2011. The central parity rate appreciated every other day for 56 trading days and depreciated every other day for 61 trading days. The exchange rate changes with reference to a basket of currencies became more apparent. In the first half of the year, the central parity rate of the RMB against the euro and the yen rose by 3.7% and 1.8% respectively

according to the report, in the first half of the year, the maximum daily fluctuation of the spot transaction price of RMB against the US dollar in the interbank foreign exchange market relative to the central parity was 0.34%, higher than 0.18% in 2011. On April 16, after expanding the fluctuation range of the RMB exchange rate, it further expanded to 0.53%, which is close to the upper limit of the floating range of 1%. After the Central Bank of China significantly reduced foreign exchange intervention, the independent mechanism of market supply and demand determining exchange rate and exchange rate regulating market supply and demand became more stable

the report points out that in the first half of the year, the RMB exchange rate against the US dollar in the domestic and foreign forward markets rose and fell, and the life and stability of the filter products were further improved. At the end of June, the implied depreciation ranges of RMB in the domestic inter-bank forward market, the overseas non principal delivery forward market (NDF) and the Hong Kong deliverable forward market were 1.2%, 1.4% and 1.9% respectively, far lower than the peak of 7% in the 2008 international financial crisis, It is in line with the current RMB tight and US dollar loose interest rate spreads, rather than the simple exchange rate expectations. This shows that the current total investment in 170 key projects is planned to be 40.6 billion yuan, and the RMB exchange rate is at a reasonable level recognized by the market. There is no large-scale bearish RMB

according to the data of the bank for International Settlements, in the first half of 2012, the nominal effective exchange rate of RMB against a basket of currencies rose by 1.6%, and the real effective exchange rate after deducting inflation rose by 0.9%. Among the 61 currencies monitored by the bank for International Settlements, the appreciation rate ranked 16th and 22nd respectively, and the RMB was stable among emerging market currencies. Since the reform of the RMB exchange rate formation mechanism in 2005, the RMB nominal and real effective exchange rates have appreciated by 23.1% and 30.4% respectively

Copyright © 2011 JIN SHI