The Yuan Opened At 6.1858 Against The US Dollar.

On the morning of March 18th, the spot exchange rate of RMB against the US dollar opened at 6.1858 today, which was 77 basis points lower than the closing price of the previous trading day 6.1781. At 9:15 today, the central bank announced that the central parity of RMB was 6.1341, with a slight depreciation of 20 points.

Monday is the central bank's decision to expand. RMB On the first trading day after the fluctuation, the RMB dropped 285 points against the US dollar, hitting a low of nearly 11 months. A large number of foreign exchange purchase and stop loss plates were gushing out, pushing the exchange rate to expand further in the afternoon, and almost all the day showed a unilateral downward trend.

The market person said, Central Bank The decision to expand the spot peak to 2% this week has not given directional guidance, but domestic enterprises and banks are mostly looking at the short term trend of the renminbi. This strength has been concentrated in the intraday market, and the key point in the short term must be 6.20.

Barclays Bank said in an analysis report that the Bank of China announced the inter bank spot foreign exchange market The floating rate of RMB against the US dollar will expand from 1% to 2%, and the pressure of RMB depreciation will increase in the coming month. The bank pointed out in the report that "China's recent macro economy is weaker than expected, and the market is also worried about credit risk. The RMB against the US dollar will move downward in the coming month."

The Fed will announce interest rate resolutions early this Thursday, and the market expects the Federal Reserve to continue to reduce the size of its purchases by $10 billion. The focus is mainly on changes in the Fed's forward-looking guidelines for raising interest rates.

The people's Bank of China authorized the China foreign exchange trading center to announce that the RMB exchange rate in the interbank foreign exchange market in March 18, 2014 was RMB 1 yuan to RMB 6.1341 yuan, 1 euro to RMB 8.5463 yuan, 100 yen to RMB 6.0276 yuan, 1 Hong Kong dollar to RMB 0.78989 yuan, 1 pounds to RMB 10.2087 yuan, 1 Australian dollar to RMB 1 yuan, Canadian dollar to RMB RMB yuan, RMB yuan to the ringgit, RMB yuan to the Russian Russian rouble.

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China has increased its holdings of US debt, especially China's pledge to increase its holdings of US debt. In 2010, there were a series of articles against the appreciation of the renminbi, pointing out that "the RMB should continue to be crossed for more than two years". "Appreciation is a no return road", and urged the Central Bank of China not to let the renminbi appreciate, but it failed.

According to the long-term trend chart of the US dollar against the renminbi, we calculate that there will be turbulence in the renminbi in February 2013. As a result, the central bank considered itself omnipotent. In 2013, the five ministries of the central bank, the Banking Regulatory Commission, the Insurance Regulatory Commission, the Securities Regulatory Commission and the State Administration of foreign exchange made the prevention of financial risks the top priority of the year. Although no significant risk was caused, the currency market turmoil at the end of June could still be achieved in 2013.

From 2010 to February 2014, the appreciation of the renminbi was about 12%, an average of about 4% per year. It should be noted that China's export enterprises have only 35 points to make profits. The appreciation of the renminbi has lifted their profits, and has also impeded the growth of China's exports. So we can see that in 2010, China's export growth rate reached 48.5% in the first month, but it was -18.5% in the first two months of 2014. This is the biggest evidence that China's exports are affected.

The appreciation of the renminbi also affects the large inflow of international financial capital. They borrowed dollars and yen to enter the Chinese market, enjoying a 3.25% interest rate, plus an annual appreciation of about 4%, plus an annual investment of about 12% of the real estate market. Rough calculation, in the past few years, their annual yield is around 19%.