last week, under the influence of China published April economic data and the dollar's strength, the Renminbi exchange rate against the dollar in the first three trading days after continuous create 2005 reform high, in two sessions after a small fall. Analysts expect modest appreciation trend of RMB exchange rate will continue to maintain the shock.
the five trading days last week, China's Renminbi exchange rate against the dollar in foreign exchange trading center announced price rate of three trading days in the Middle, two trading days down, week volatility of 69 basis points. On Monday, the RMB's exchange rate against the dollar on the basis of 6.5003 on Friday, the price to rise 15 basis points, to 6.4988, after April 29 for the first time exceeded 6.5 points create 2005 reform high again. Then two trading days, against the continuous high rate price, have risen and 5.495 are record high since the reform. On Thursday, the Renminbi exchange rate against the dollar price drop 57 basis points in the Middle, to 6.5005. And continue to fall modestly on Friday by 12 basis points, to 6.5017.
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Greece prospects douzeng variables euro downward risk or increased IMF variable array suspicion RMB exchange rate current underestimated insufficient 2% eurozone April inflation rate create 30 months high euro continued fell prospects difficult material IMF are power vacuum parties rivalry took over as who United States borrowing ceiling of race increasingly intense national day Xin months site revealing three quarter layout opportunity Shang Tuesday customs publishing of data display In April, Chinese exports reaching record highs, and the month's trade surplus amounted to us $ 11.43 billion, higher than the market expected, further strengthening of RMB's appreciation. In April consumer prices in China, National Bureau of statistics announced on Wednesday (CPI) rose by 5.3%, outperforming March down 0.1%. Although the trend of rising prices of preliminary containment, but price pressures remain strong, especially imported inflation pressures remain large, also have an impact on RMB trend indirectly.
a professional analysis, although the April trade surplus well beyond market expectations, but because of the future export of variables, the resulting upward pressure on the Renminbi, or only a short-term phenomenon. RMB exchange rate reform will continue to follow the initiative and can be controlled and progressive nature of the principle of promoting perfection.
on the overseas market, last week by fresh falls in commodity prices, and debt problems in Europe warming impact dollars out of the round strong, traction price of RMB's exchange rate against the dollar in two business days after last week dropped to 6.5 interval.
a market trader pointed out that, in the overall trend is still in appreciation of RMB exchange rate, but the eurozone debt worries the euro's recent weakening, may inhibit the Renminbi rise against the dollar in the short term. But on the other hand, subject to the restriction of the second round of the quantitative easing policy, United States and spread to other developed countries will continue to limit dollar gains. Bottom reverse the dollar's recent rally was also is a local callback, currently still have to wait until judgement quantitative easing after the end of June. Bank of
2010, June 19 announced its further promoting the reform of RMB exchange rate mechanism, a modest revaluation of the Renminbi, bi-directional characteristics of floating clear, exchange rate flexibility significantly enhanced. Middle price to take account of, June 19, 2010, RMB appreciation over 5%. Since the beginning of this year alone, the Renminbi has more than 1.9%.
on the forward market, 13th, which overseas markets to overseas non-deliverable market of RMB's appreciation of US dollar against renminbi a year compared to the price and the spot exchange rate, show one year after the market believes that the renminbi is 2%, appreciation is expected to remain strong.
last week as Greece debt problem is renewed, the euro down, all the way. Under the influence of this, the euro exchange rate of RMB intermediate prices continuing to rise, from rose to 9.2 9.3 interval interval.
