RMB To Us Dollar Exchange Rate Changes To New High

The central parity of the RMB against the US dollar has hit a new high since 2005 in the last two trading days of last week.

Last Friday trading day, the central parity of RMB against the US dollar announced by the China foreign exchange trading center increased by three trading days, and two yuan.

RMB to us dollar

Financial expert Tan Yaling believes that the US dollar has continued to consolidate at a low level and strong in recent years.

Recently, the voice of the Federal Reserve raising interest rates has become a major factor in pushing the US dollar to strengthen briefly.

Analysts at Bank of China believe that although this reduces market expectations for further quantitative easing by the Federal Reserve, it does not mean that the Fed will quickly turn to monetary tightening.

The strengthening of the US dollar is not a long-term trend.

In the euro area, although the interest rate hike is expected to continue to rise, the debt problem of euro zone countries will still be a key factor affecting the euro's trend.

Last Friday night, the US non farm payrolls report showed that the increase in US non farm employment in March was far better than expected, and the largest increase since May 2010, and the unemployment rate has further declined.

Good figures ignited the enthusiasm of the market for more dollars. The US dollar index rose rapidly, hitting 76.61, hitting a new high since March 17th.

But then fed governor Dudley's remarks on the US economic recovery process are still slow, so the market deflation is expected to rapidly cool down, the US dollar trend has dropped sharply, and once again dropped to below 76.

Analysts believe that the yen has dropped sharply, and it is also a factor in pushing the RMB exchange rate to record high in the near future.

Affected by Japan's March 11th earthquake and tsunami and subsequent nuclear crisis, the market is worried about the economic growth of Japan.

Under the influence of widening spreads, the dollar rose 3.6% against the yen last week, the biggest gain since December 4, 2009.

Since the people's Bank of China announced the further reform of the RMB exchange rate formation mechanism in June 19, 2010, the RMB has appreciated slightly, the two-way floating characteristics are obvious, and the exchange rate elasticity has been significantly enhanced.

In the middle price, since June 19, 2010, the appreciation of the RMB has exceeded 4%.

In the forward market, on the evening of 1 nights, the overseas non capital delivery market used to measure the expected value of RMB appreciation in overseas markets was compared with the spot exchange rate of the US dollar against the RMB. It shows that the market thinks RMB appreciation is about 2% a year, and the appreciation expectation is slightly enhanced, but it still belongs to a reasonable range.

Affected by the low yen, last week, the central parity of RMB against the yen went from 8 to 7.8.

The central parity of the RMB against the euro has declined slightly.