RMB Slightly Reduced At The Spot, And Put Pressure On Big Banks To Buy Foreign Exchange.

< p > > a href= "//www.sjfzxm.com/news/index_c.asp" > RMB to us dollar < /a > on Thursday, but it did not break through nearly seven months low yesterday.

The median price dropped 32 points today.

Traders said that the settlement of foreign exchanges was relatively heavy in both spot and forward markets.

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< p >, they said that when the purchasing power of foreign exchange was weakened, the settlement of foreign exchange would increase and the dollar price would be suppressed.

This is due to the market's judgment that the current round of depreciation is dominated by the central bank's intervention. The appreciation of the renminbi is expected to become stronger again. On the one hand, it is better than the a href= "//www.sjfzxm.com/news/index_c.asp" and the exchange rate < /a > after devaluation.

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< p > < a href= "//www.sjfzxm.com/news/index_c.asp" > stock line trader < /a > points out: "there is a large purchase of foreign currency in midday, as long as the closing price is close to the middle price, the purchase of foreign exchange will be fierce."

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P, another foreign trader, says that if there is no support for big purchases, the dollar will go down even more.

The possibility of retaliatory rebound of the RMB exchange rate cannot be ruled out if the purchasing power of the big banks is weakened or even disappeared.

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< p >, he said, the market needs to be vigilant against the risk of two-way fluctuations. "We should be prepared for the two directions of liquidity loss."

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< p > China's official People's Daily reported on Thursday that the RMB exchange rate against the US dollar could not be lowered, which is understood as a policy oriented orientation to promote the trend of RMB depreciation.

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In the global market, the US dollar continued to refresh its two week high against a basket of major currencies, helping to sustain the demand for the US dollar as tensions rose in Ukraine on Thursday. P

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< p > China's US dollar to RMB further flatten out, the half year below the deadline has dropped to the premium, and the one-year swap point also dropped to 10 on Thursday. Traders reflected that the first reason was that the recent settlement of foreign exchange was relatively large, and two, the liquidity of local currency was relatively loose.

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< p > related links: < /p >

This year is a critical year for the us to withdraw from quantitative easing policy. The global hot money is accelerating the return of developed markets from emerging markets, which brings huge risks to emerging market countries. P

At present, Turkey, Brazil, South Africa, Russia and other countries have seen significant currency depreciation and economic turmoil.

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"P" China is also facing the same situation, for example, although our stock market has fallen sharply, if the bank stocks with unclear prospects are still deducted, the average p / E ratio is still very high. China's housing prices, to say nothing of it, are generally higher than those of the developed countries.

Under such circumstances, the desire for capital to escape from China to the bottom of the developed countries is strong. Li Jiacheng is already doing it, and the real estate developers are going out one after another.

If the renminbi is depreciated under such circumstances, even if you declare that this is a step in place and will no longer depreciate in the future, the market will not believe it.

Once you start, it's hard to end.

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< p > because the RMB has not been freely convertible, so long as the central bank keeps the exchange rate closed, and often unconsciously reverses the market expectation operation, it can dispel the impulse of hot money inflow arbitrage on the one hand, and control the expectation of people's depreciation on the other hand.

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