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RMB central rate hit a more than four-year low

Yuan/dollar exchange rate fell nearly 400 points 4 days; administration say not in favor of short-term fluctuations in the exchange rate as a trend depreciation of the

along with the Federal Reserve raised interest rates for the first time point drift past, the devaluation of the renminbi is expected to speed up fermentation. Yesterday, both inside and outside the central parity of RMB exchange rate of RMB exchange rates have hit a rare decline, Yuan central parity against the dollar at 6.4236, down nearly 400 points in four days.  Its lowest since August 2011.

Yuan central parity four days fell nearly 400 points

released yesterday morning's Yuan central parity against the dollar to 6.4236, compared to yesterday's downgrade 96 points, or 0.1%, its lowest since August 2011.  China foreign exchange trade center data show that since the last five trading days, prices continued to fall sharply in the middle of RMB, the cumulative decline at 385.

yesterday, the offshore renminbi exchange rate against the dollar opening fell more than 100 points, closed at 6.4422, down 260 points, to 0.4052%. According to the Beijing News reporter, and from November the first trading day of November 2 (closing price on the day 6.3374) has so far, onshore RMB exchange rate has fallen 1048, dropped as much as 1.65%. Offshore market decline even more.

as time 18:25, offshore renminbi exchange rate against the dollar to 6.5376, down 362 points, to 0.5568%.  From November the first trading day of November 2 (closing price on the day 6.3452) since the offshore renminbi-1924, dropped as much as 3%.

Hui Yu hua Xue of Beijing news reporters, Chief Analyst of finance, currency collapse, partly because of the Fed's December rate hike may approach, on the other hand, according to Chinese trade data continues to shrink, November reserves fell sharply also makes the Yuan under pressure.

 

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