Textile Industry Will Benefit From RMB Exchange Rate Falling For Five Consecutive Years

After the RMB's wish to join SDR, the market RMB depreciation The expectation of RMB reached a stage high again, and a new wave of depreciation trend of RMB against the US dollar occurred.

Internal weakness economic data In addition to the increasing expectation of the Federal Reserve to raise interest rates, not only the spot price and the FOB price of RMB against the US dollar have depreciated continuously in recent days, but also the central bank's central parity rate against the US dollar has started to fall for five consecutive days, hitting a new low since August 20, 2011.

Yesterday, the central parity rate of RMB against the US dollar in the inter-bank foreign exchange market was 6.4236 yuan, 96 basis points lower than the previous trading day. Since 6.3851 yuan on December 4, the central parity rate of the RMB has depreciated for five consecutive days. This price also broke the three-and-a-half month low since the one-time devaluation on August 11.

The recent continued weakness of the RMB exchange rate is partly due to the poor performance of a number of economic data recently disclosed: the data released by the Central Bank on the 7th showed that by the end of November 2015, the balance of China's foreign exchange reserves had reached US $3438.284 billion, a decrease of US $87.223 billion from the end of October, the lowest value since the end of February 2013, and the cumulative decline in the year had reached US $405 billion, Worries about capital outflows suddenly rose, while the import and export data released on the same day was also bad, and the growth rate continued to be negative; On the other hand, the interest rate increase of the Federal Reserve affects the global capital market“ Boots ”The imminent landing also made the US dollar index rise continuously, and non US currencies, including the RMB, generally weakened against the US dollar.