The central bank to respond to the depreciation of the RMB against the U.S. dollar remains stable an-mkdv-02

In response to the central bank devalued the RMB against the U.S. dollar is still strong and stable performance: original title: RMB in the global monetary system still showed stable strong – the Central Bank Deputy Governor Yi Gang recently a reporter asked the recent trend of the RMB exchange rate, the RMB exchange rate volatility sparked concern. 27, 2009, the people’s Bank of China Deputy Governor Yi Gang on the RMB exchange rate, foreign exchange reserves and other issues to accept an exclusive interview with Xinhua News Agency reporters. Yi Gang said that the RMB in the global monetary system is still showing a stable strong currency characteristics. Chart: since October, the main currency exchange rate chart recently, the RMB exchange rate fluctuations lead to market attention. Xinhua News Agency (the people’s Bank of Chinese provide) asked: recent RMB exchange rate against the dollar has depreciated, the RMB is not a strong currency? A: from the data point of view, the RMB in the global monetary system is still showing a stable strong currency characteristics. Recent rapid rise in the dollar, reflecting the accelerated growth of the U.S. economy, inflation is expected to rise, the Fed rate hike may accelerate the pace of domestic factors, such as the United states. The RMB exchange rate fluctuations in the U.S. dollar has increased, mainly Trump was elected president of the United States, the Fed is expected to raise interest rates suddenly increased, the United Kingdom, Europe, Egypt and other factors driven by free floating. These factors are all countries in the world have some unexpected, capital flows back to the United States to promote the rapid rise in the dollar index, the three major U.S. stock index and then a new high, the global currency against the U.S. dollar devaluation, some of the decline is relatively large. Next, there is uncertainty about the trend of the U.S. dollar, does not rule out the possibility of market correction is expected to trigger a dollar pullback. The recent devaluation of the RMB against the U.S. dollar, but the magnitude is relatively small compared to most non US currencies. Since October, the currency in the developed economies, yen, euro, Swiss franc against the dollar depreciated by 10.5%, 5.8% and 4.2%; emerging market currencies, Malaysia, and Mexico won the ringgit Peso to the dollar depreciated by 7.2%, 6.5% and 6.1%, while only 3.5% devaluation of the renminbi against the dollar, the dollar index rose by only half. Due to the depreciation of the RMB against the U.S. dollar is relatively small, since October, some of the major currencies of the RMB is significantly appreciated. For example, in a SDR currency, RMB appreciation of 7.5%, 2.5%, the appreciation of the euro against the pound to 0.5% yen appreciation; in Asian emerging market currencies, the renminbi in Malaysia, Lin, Jeter won Singapore yuan respectively 4.1%, 3.3% and 1.2% appreciation. From the long period, the RMB also showed a trend of steadily over the past 5 years, the RMB exchange rate index CFETS, BIS and SDR reference currency basket currency RMB exchange rate index and dollar exchange rate appreciation of 10.9%, 11%, respectively 4.4% and 8.8%, over the past 10 years were 33.4%, 28.4% and 28.3%, the appreciation of RMB 11.9%. In the global monetary system still showed a strong and stable currency characteristics. Q: how do you see the recent devaluation of the RMB against the US dollar and the appreciation of the RMB against other major currencies? A: look at the RMB exchange rate from the perspective of a basket of currencies. Impact on the exchange rate of a country相关的主题文章: