HSBC'S PMI Value Reached A New Low For Six Months, And The Renminbi Weakened Against The US Dollar Against The Middle Price.

The renminbi weakened against the US dollar on Thursday (November 20th) on the weaker side of the offshore renminbi and weaker than expected initial value of China's HSBC PMI.

Traders said that the purchase of foreign exchange on the disk was too large, mainly due to offshore renminbi continued to fall. The HSBC PMI initial value announced in early November was driven by a half year low.

The US dollar / RMB inquiry system was reported at 6.1245 noon and 6.1198 on Wednesday.

The central parity of US dollar / RMB central bank was 6.1417, and Wednesday's middle price was 6.1397.

Overseas without

In the delivery of forward foreign exchange (NDF) market, the latest US dollar / Renminbi variety is reported at 6.2515/49 on the latest, and 6.25 at the end of Wednesday.

Hongkong

The latest report is on 6.1260/80, and the last trading day is 6.1240.

Traders said the market was flat on Thursday, and the devaluation rate did not exceed the beginning of the week.

The market followed the pace of offshore RMB CNH, and the PMI data released in the early morning also triggered a wave of US dollar buying.

The output index dropped again and again, and it hit a 7 month low. In November, HSBC's PMI value fell to its lowest level in six months.

Coupled with the employment index for 13 consecutive months in a shrinking region, indicating that China's downward pressure on the economy is still very large, and needs continued support from policy sides.

according to

The announcement issued recently has authorized bank of China Sydney branch to act as the Sydney RMB clearing bank.

Following the Hong Kong, Macao, Taiwan, Frankfurt and Paris, Bank of China once again acted as an overseas RMB clearing bank.

Bank of China said that the establishment of the RMB clearing mechanism will further promote the two countries' use of RMB for settlement and investment and financing pactions, and promote the development of the local RMB market.

In the international exchange market, the yen fell on Thursday, hitting a seven year low against the dollar and falling to a six year low against the euro, as speculators got together to make yen spreads in yen.