RMB'S Rise Due To The US Index Callback Is Stronger Than Expected.

The yuan rose against the US dollar on Wednesday (February 4th) in early trading. The US dollar index rose more than a year's largest daily decline, leading to a rise in the central parity of RMB.

Market participants said that the current passenger and international dollar trend is the main force affecting the RMB exchange rate, as the purchase of foreign exchange market near the Spring Festival is relatively large, so that the early Renminbi reflux part of the increase.

They pointed out that the current offshore CNH devaluation is stronger than the domestic CNY. Yesterday, the RBA lowered interest rates to make the global easing expectations heating up. The market speculated that the Central Bank of China [micro-blog] would follow the lead and bring the RMB to China.

Pressure.

A stock line trader said, "by the end of the year, the purchase of foreign exchange is still relatively large, because some small businesses that have settled in foreign exchange have been on holiday for a long time.

Or foreign exchange purchase, so the market may generally buy more foreign currency before and after the Spring Festival.

He also pointed out that the offshore market has great impact on the shore.

Because of the recent trend in offshore RMB, which is close to the limit line, the market nerves are more sensitive, and the rumors that the central bank will expand the amplitude of the Japanese limit will make offshore CNH more agile reflection, and then drive the domestic RMB to fall.

A chief executive of the stock exchange said that at present, the overseas expectation of RMB depreciation is stronger than that of the mainland. Although the existence of the spread between domestic and foreign markets has stimulated a portion of arbitrage plates to purchase foreign exchange in foreign exchange within the territory, only a small number of enterprises have the conditions to participate in arbitrage pactions.

He also pointed out that the short term

The trend needs to be concerned about whether the foreign exchange rate is more or more, and the strength of the international dollar, because the international dollar trend will affect the opening or opening of the middle price of the mainland, which will affect the spot exchange rate trend.

In the global market, the US dollar collated on Wednesday after falling across the board, before it hit its biggest one-day decline in a year. The dollar is facing multiple pressures as oil prices rise to fuel the rise of commodity currencies.

At 12:48 Beijing time, the US dollar was RMB 6.2485 yuan against the yuan, and it received 6.2581 yuan on the previous day.

Today, the median price of US dollar to RMB is 6.1318 yuan, and the middle price of the previous day is 6.1369 yuan.

Related links:

The renminbi rose against the US dollar on Wednesday (February 4th) in midday as the overnight US index hit the biggest daily decline in more than 1 years, driving the rise in the central parity of RMB.

Market participants said that the current passenger and international dollar trend is the main force affecting the RMB exchange rate, as the purchase of foreign exchange market near the Spring Festival is relatively large, so that the early Renminbi reflux part of the increase.

The US dollar / RMB inquiry system was reported at 6.2480 noon and 6.2581 on Tuesday.

The central parity of the US dollar / RMB central bank [micro-blog] was 6.1318, and Tuesday's middle price was 6.1369.

Earlier, the yuan rose to 6.2451, up 130 points, or 0.21%, the biggest gain in a single day this year.

In the overseas non deliverable forward foreign exchange (NDF) market, the US dollar / Renminbi one year variety is newly reported at 6.3780/6.383, ending on Tuesday at 6.3855.

The latest off shore US dollar / RMB prompt in Hongkong is at 6.2530/6.2555, and the last trading day is 6.2557.

Traders pointed out that at present, the offshore RMB CNH devaluation in Hongkong is stronger than that in the mainland. On Tuesday, the RBA lowered interest rates, making the global easing expectations heating up. The market speculated that the Central Bank of China would follow the lead and then bring the devaluation pressure to the RMB.

Traders also said that the purchase of foreign exchange plates before the end of the lunar calendar was relatively large. "But the importing central enterprises should buy foreign exchange or purchase foreign exchange, so the market may generally buy more foreign currencies before and after the Spring Festival."

The offshore market has great impact on the shore.

Because of the recent trend in offshore RMB, which is close to the limit line, the market nerves are more sensitive, and the rumors that the central bank will expand the amplitude of the Japanese limit will make offshore CNH more agile reflection, and then drive the domestic RMB to fall.

Other traders believe that the current overseas devaluation of the renminbi is stronger than the domestic market. Although the spread of domestic and foreign prices has encouraged some foreign exchange settlement in the territory of arbitrage, only a small number of enterprises have the conditions to participate in arbitrage pactions.

In the international currency market, the US dollar week before the biggest single day decline in more than 1 years has entered the consolidation stage in Sanya.

Beijing time 13:34, the US dollar / Renminbi reported 6.2475.