August 28, 2017 RMB Internationalization Briefing

China Financial Information Network News

-- RMB News --

The open market for six consecutive days, the net return of funds at the end of the month to maintain a tight balance

The central bank opened up the market for 60 billion yuan for 7 days and 40 billion yuan for 14 days of reverse repurchase operations. The winning bid rates were flat at 2.45% and 2.60% respectively. As a result of the 200 billion yuan reverse repurchase due on the same day, the net withdrawal of funds in a single day was 100 billion yuan, which was the net withdrawal of funds from the open market for the sixth consecutive trading day of the central bank.

--RMB Market --

RMB against the US dollar broke through multiple integers and hit a new high for more than a year

On August 28, the spot exchange rate of RMB against the US dollar in the onshore market closed up 322 basis points to 6.6323, the highest closing level in more than a year. The intraday price rose above the 6.63 integer mark, with a fluctuation range of 6.6282-6.6459, Beijing time 23 : At the end of the 30-night trading session, it was reported at 6.6050, up 434 basis points from last Friday's trading day, with a daily trading volume of 25.762 billion US dollars. The euro returned to a strong position to suppress the US dollar index, the RMB exchange rate was once again boosted, and the market settlement and sales were basically balanced. Whether the US dollar index can continue to be weak this year needs to continue to observe, the renminbi has no signs of a stop-gain appreciation, and the follow-up is gradually moving closer to the 6.60 integer mark. Offshore market RMB against the US dollar closed at 6.6272 in New York trading hours, an increase of 96 basis points, hitting a maximum of 6.6125.

On August 28, the central parity of the RMB against the US dollar rose above 6.64 to hit a new high.

On August 28, the central parity of the RMB against the US dollar rose 226 basis points to 6.6353, the highest level since August 19, 2016.

CFETS RMB exchange rate index è´¬0.06% for the week of August 25

On August 25th, the CFETS RMB exchange rate index was 93.76, down 0.06% from the previous week, and the accumulated depreciation of 1.13% since 2017. The RMB exchange rate index calculated with reference to the BIS currency basket and the SDR currency basket fell by 0.11% and 0.08% respectively. Since 2017, it has depreciated by 1.82% and depreciated by 0.77%.

Xinhua Financial Client: Authoritative financial information is in the "mastery", scan code or long press QR code to download