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In the offshore renminbi closed by 123 basis points

In the offshore renminbi closed by 123 basis points

on December 16, in China's interbank foreign exchange trade system formed offshore renminbi (CNY) and by the international offshore renminbi transactions form (CNH), in early trading after a brief try, back into devaluation trend. In offshore renminbi exchange rate devaluation of the open 0.07%, then to 6.4655, followed by 9:45, suddenly pulled over 50 basis points, after a shock value.

at the time of closing, Yuan 6.4733, depreciated 0.19%. The same day, the official dollar-Yuan central parity at 6.4626, the eighth consecutive trading day lower, the lowest since July 2011. Previous US 6.4559, closing at 6.4611. 16th in the offshore renminbi market in early morning trading, CNH has a wave of recovery, but then began to fall. As of press time, the dollar-Yuan exchange rate 6.5286, 0.13% appreciation.

Yuan has not yet fully convertible and capital projects have limited case, offshore and onshore Yuan market is delimited, so tend to spread. Currently both narrowed spreads over more than 600 basis points. You can also reflect the future trend of the Renminbi non-deliverable forward (NDF), the 16th most variety trend of devaluation.

message levels, from December 15 to 16th, this year's final will be held on the meeting of the Federal Reserve amid speculation about whether it will be implemented by the Federal Reserve raised interest rates for the first time since June 2006. Central Bank released the latest data show that caliber of Central Bank foreign exchange November decreased by 315.802 billion yuan, return to negative growth. In October, an increase of 53.337 billion yuan, and ended after 8 consecutive months of declining trends.

 

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