RMB Real Effective Exchange Rate Rose 4.72% In 2010
Data released by the bank for International Settlements showed that in December last year, Real effective exchange rate index of RMB It was 120.53, up 1.67% compared with November. In 2010, the effective exchange rate of RMB increased by 4.72%.
Recently, the appreciation rate of RMB has accelerated.
A number of agencies predict that the value of the renminbi will rise by 4% - 6% in 2011.
RMB appreciation
International Driving Factors
It mainly includes the weak recovery of the economy, high unemployment rate and the implementation of quantitative easing, which may last for a long time.
From the domestic perspective, there is a demand for RMB appreciation to curb inflation.
At the same time, continuous capital inflow has also increased the pressure of RMB appreciation.
In January 11th, the central bank's report showed that as of the end of 2010, China's foreign exchange reserves amounted to 28473 billion US dollars, a record high.
CICC expects that the effective exchange rate of RMB will rise by 5% in the next 12 months.
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