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在岸人民币升破6.70关口 一度涨破6.69刷新半年来新高

The onshore renminbi rose above the 6.70 mark and once rose above 6.69 to a new high in half a year

智通财经 ·  Feb 21, 2019 12:56

The exchange rate of the US dollar against the onshore RMB fell below 6.72,6.71,6.70 in succession in Asian trading on Thursday, and as of press time it was at 6.6973, the APP of Zhitong Financial and Economics learned. The intraday low hit 6.6887, the lowest since July 2018, while the dollar traded at 6.6935 against the offshore RMB.

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In response to questions related to the RMB exchange rate, the Chinese Foreign Ministry said on Wednesday: China is a responsible big country, and we have reiterated many times that we will not engage in competitive devaluation; we will notUsing RMB exchange rate as a tool to deal with trade disputesWe also hope that the United States will respect the laws of the market and objective factsDon't politicize the exchange rate issue..

Analysts point out that some of the external risk factors that have put pressure on the RMB exchange rate over the past period of time have either weakened or may have weakened, thus boosting the RMB exchange rate. However, the effective stabilization of the RMB exchange rate ultimately depends on economic fundamentals.

Based on the experience of about one or two quarters of leading economic data in the past, some institutions expect the bottom of the economy to be basically discovered by mid-2019, and basic support for exchange rates is expected to increase gradually.

To some extent, the prices of RMB, A-shares and even commodities have risen to varying degrees since 2019, which may also be related to the repair of market pessimistic expectations of economic growth, in addition to being transmitted by external risk sentiment.

Looking back, the external pressure on the RMB exchange rate caused by the trend of the US dollar is expected to be reduced, and the internal fundamentals of the RMB exchange rate are also expected to bottom out and recover, and the stable operation of the RMB will be more confident. Of course, before stabilizing effectively, volatility and repetition may be inevitable, and the flexibility of the RMB exchange rate will be further enhanced.

The translation is provided by third-party software.


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