The hottest RMB exchange rate hit a new high, whic

2022-08-26
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A new high rise in the RMB exchange rate is conducive to easing inflationary pressure

a new high rise in the RMB exchange rate is conducive to easing inflationary pressure

China Construction machinery information

Guide: the latest data from the China Foreign exchange trading center shows that the central parity rate of the RMB set a new record on February 21, with the latest quotation of 6.5705 yuan for the US dollar against the RMB. It rose 76 basis points from the previous trading day, the sixth consecutive day, breaking the new high since the exchange rate reform in 2005. On the evening of the 18th, the people's Bank of China once again announced

according to the latest data from the China foreign exchange trading center, the central parity rate of the RMB broke the record again on February 21, with the latest quotation of 6.5705 yuan for the US dollar against the RMB. It rose 76 basis points from the previous trading day, the sixth consecutive day, breaking the new high since the exchange rate reform in 2005

influenced by the Central Bank of China's announcement to raise the deposit reserve ratio again on the evening of the 18th, the US dollar in the international foreign exchange market once rose. However, against the background that the Bank of England's interest rate hike is expected to promote the joint strength of sterling and the euro, the dollar finally maintained a weak adjustment, and the central parity rate of the RMB against the US dollar continued its upward momentum, approaching 6.57

in the six trading days from February 14 to February 21, the dollar against RMB was 6.5985 yuan, 6.5929 yuan, 6.5855 yuan, 6.5800 yuan, 6.5781 yuan and 6.5705 yuan respectively

insiders believe that the G20 meeting is the main reason for the exchange rate to hit new highs. After the successful closure of the G20 finance ministers' meeting, the RMB exchange rate once again hit a new high after the exchange rate reform in 2005, and it is also the third consecutive record high in recent trading days, indicating that the overall strength of the RMB is still continuing

after discussion, the finance ministers of the group of 20 (G20) reached a consensus on the establishment of indicators to measure global economic imbalances on the 19th, agreeing to formulate guidelines on the evaluation methods of various indicators, reduce excessive global economic imbalances and promote sustainable development through international multilateral cooperation. Member States agreed to select a package of indicators to measure economic imbalances, and to determine fiscal deficits and government debt, private savings rates and private debt, trade accounts and net investment income and transfer accounts as measurement indicators. Exchange rate, fiscal and monetary policies will also be used as reference factors to measure economic imbalances in the future

Zhou Xiaochuan, governor of the central bank, said recently that the Chinese government will decide the pace of RMB appreciation by itself and will not compromise to the pressure of other countries. Zhou Xiaochuan said that external pressure has never been an important factor to consider, and we have never paid special attention to it first. In addition, Zhou Xiaochuan also said that in order to develop the domestic financial market, China needs to reform the exchange rate system and improve the flexibility of the RMB. At the same time, Yi Gang, director of the State Administration of foreign exchange, said recently that the RMB exchange rate against the US dollar is currently at an appropriate level and will be dynamically adjusted according to changes in the market and other conditions in the future

the industry also believes that the overnight significant weakness of the US dollar index, the introduction of foreign exchange options trading by the safe, and the month on month decline of the RMB real effective exchange rate in January are also the reasons for jointly pushing the RMB exchange rate to a new high, and it is expected that a new round of appreciation of the RMB is expected in the short term. Foreign exchange traders said that the overall appreciation trend of the RMB exchange rate since this year is to a large extent higher than the previous market expectations. It is expected that the RMB appreciation rate for the whole year is expected to reach more than 5%

the data released by the bank for International Settlements (BIS, such as instructing ordnance products to conduct environmental experiments GJB150 - the national military standard of the people's Republic of China "environmental experiment methods for military equipment") last Thursday showed that the RMB real effective exchange rate index in January 2011 was 118.13, down 1.52% month on month, reversing the previous two consecutive months of gains

data also showed that the nominal effective exchange rate index of RMB in January was 113.6, down 0.16% month on month. In the basket of currencies used by the bank for International Settlements to calculate the effective exchange rate of RMB, the US dollar, the euro, the Japanese yen and the Korean won account for 64.4%, of which the US dollar accounts for 21%, the euro 18.4% and the Japanese yen 16.8%

in addition, fighting inflation has almost become a major event in the operation of China's current first-class rubber fatigue testing machine. In the case of rising international commodity prices, 3. The control system of the tensile testing machine: the appreciation of RMB undoubtedly has a direct effect on imported inflation. Yu Yongding, a former member of the monetary policy committee of the people's Bank of China, once said that the RMB should continue to appreciate, and the current appreciation rate is not enough to curb China's inflation. Yu Yongding said that from the perspective of China, RMB appreciation is beneficial. The choice China faces now is not whether the RMB should appreciate in the future, but whether the appreciation of the RMB comes from the change of the nominal exchange rate or from inflation

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