RMB Against The US Dollar Hit A New Low In The Past 7 Months.

< p > according to the latest data from the central bank yesterday, the central parity price of RMB against a href= "//www.sjfzxm.com/news/index_cj.asp" > US dollar < /a > reported 6.1591, a slight decrease of 5 basis points from the previous trading day's middle price (6.1586), once again refreshing the new 7 month low, which is only 10 basis points lower than that of 6.1601 in September 11, 2013.

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< p > yesterday morning, the spot exchange rate of RMB against the US dollar was 6.2247, which was 5 basis points lower than the closing price of the previous trading day 6.2242.

After opening, the spot exchange rate of the renminbi quickly declined and then rebounded.

The closing price was 6.2274, or 0.05%, which was 32 basis points lower than the previous trading day.

Traders said that the mixed signals of the economic market made it impossible for the market to judge the direction of the RMB exchange rate, and the spot exchange rate in the short term will still follow the guidance of the middle price.

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< p > in the middle of January this year, when the spot rate of a href= "//www.sjfzxm.com/news/index_cj.asp" > RMB > /a > 6.0406 reached the RMB exchange rate, the RMB exchange rate suddenly reversed, and depreciated to 6.225 in the short term, falling by more than 3%.

This is the period of RMB a href= "//www.sjfzxm.com/news/index_cj.asp" > depreciation > /a > largest and fastest since the reunification in July 2005.

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Zhao Xijun, vice president of the school of Finance and finance, Renmin University of China, said in an interview with the Beijing Commercial Daily reporter that the recent macroeconomic stability in the US, the gradual easing of quantitative easing policy, and the global capital flow to the US, the relative appreciation of the US dollar led to the relative depreciation of the renminbi.

In addition, due to seasonal reasons, the export volume is affected by holidays such as Christmas and Spring Festival. There is a certain anomaly in the foreign exchange settlement at the beginning of the year, causing the fluctuation of the RMB exchange rate.

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Yi Xianrong, a researcher at the P research center of the Chinese Academy of Social Sciences, said that after the reform in 2005, the unilateral appreciation of the RMB against the US dollar has reached over 32%.

The proper depreciation of the renminbi can not only block international hot money inflow, crack down on arbitrage of RMB exchange rate, but also ensure that the marketization reform of RMB exchange rate formation mechanism can be carried out smoothly.

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< p > for the recent trend of the RMB exchange rate, Zhao Xijun said that the recent international economic situation is good, and the stability of imports and exports has little effect on the RMB exchange rate change, while the monetary policy and geopolitical reasons of Europe and the United States will have a greater impact on the recent trend of RMB.

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