The Central Parity Of RMB Will Continue To Fall By More Than 100 Points.

On the shore, the yuan fell to 6.5270 at the beginning of the dollar, down about 140 points from the previous day's closing.

Today, the central parity of RMB against the US dollar continued to drop, the middle price was 6.5237, the rate of reduction was the largest in January 7th, and the mid day price was 6.5130, closing at 6.5136.

After the release of the middle price, the offshore renminbi expanded against the US dollar.

About 100 points, once to 6.5384 close to the 6.54 pass, now rebounded to 6.5308, and still fell about 140 points within the day.

The offshore renminbi fell 0.3% yesterday, the biggest decline in a month.

The offshore exchange rate dropped by nearly 200 points.

Liu Yuhui, a professor of the Chinese Academy of Social Sciences, reported that Zhou Xiaochuan's recent speech may mean that the guiding role of the central parity of RMB should not be lost at will.

CICC fixed income research team believes that the Federal Reserve in March

The probability has been very low, and the pressure of RMB depreciation is expected to be eased step by step.

The central bank's monetary policy constraints have weakened and the room for maneuver has increased.

This Monday, on the shore

The US dollar rose by 800 points against the US dollar (CNY) during the day, up 1.24%, the largest single day gain since at least 6.4944 in 2005, the highest closing price this year.

In the middle of the day, the offshore and offshore banks both break 6.50.

Analysts say the pressure on RMB depreciation has eased.

The Reuters quoted traders as saying that the major rise in the renminbi was due to the dollar adjustment during the Spring Festival and the rise of the offshore RMB.

On Saturday, Zhou Xiaochuan, the governor of the central bank, made a rare announcement that he would not allow speculative forces to dominate the market sentiment, and that the internationalization of the RMB would go forward.

"The process of RMB internationalization will go forward in waves. If we observe that speculation becomes the main contradiction in the foreign exchange market, we should focus on speculation, and gradually return to a relatively stable market, and the internationalization of RMB will continue to move forward."

Everbright Securities, Xu Gao, told the central bank governor Zhou Xiaochuan's remarks that the fundamentals of exchange rate, such as current account smoothness and relative inflation, all do not support the continued depreciation of the RMB and even support the appreciation.

With the reduction of the pressure of RMB depreciation, the monetary policy easing space will increase, and we believe that the central bank will further reduce its accuracy in the first half of this year.