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The RMB Exchange Rate Against The US Dollar Dropped Four Days On The Spot.

2014/9/17 22:31:00 15

RMBUS DollarSpot Rate

Since the middle of September, in the context of the overall stability of the central parity price, the RMB exchange rate against the US dollar has continued to depreciate due to the weakening of China's macroeconomic and foreign exchange occupying data in August.

As of 16 days, the spot exchange rate has recorded fourth consecutive trading days down.

According to the China foreign exchange trading center, in September 16th, the central parity rate of RMB against the US dollar was 6.1462, a slight reduction of 10 basis points from the previous trading day, and the consolidation of fifth consecutive trading days in the vicinity of 6.1450.

On the spot foreign exchange market, the spot exchange rate of RMB against the US dollar dropped sharply at a 81 basis point in early trading at 6.1501, the lowest intraday drop to 6.1572, the lowest since August 22nd, and 6.1462 in the closing market, down 42 basis points or 0.07% on the 15 day, falling for the fourth consecutive trading days since September 11th.

At the same time, the renminbi's spot rate against the US dollar returned to a weaker state yesterday.

Analysts said that this week, the central bank announced that the foreign exchange settlement of financial institutions in August decreased by 31 billion 100 million yuan compared with second in June. The data released by the foreign exchange administration on Tuesday also showed that in August, the RMB deficit of commercial banks in foreign exchange and sales amounted to 5 billion 100 million yuan, the first since July last year.

Deficit

Poor foreign exchange data and poor macroeconomic data in August have led to the appearance of the phasing of the renminbi in the domestic and foreign markets, thus promoting the weakening of the RMB exchange rate.

However, some traders still said that taking into account the current territory

RMB

The central parity of the exchange rate is stable, and the mentality of the medium and long term bullish renminbi is still relatively stable.

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