On the morning of December 19th, the China Foreign Exchange Trade Center issued a notice, the central parity of the RMB exchange rate reported 6.9312, a sharp appreciation of the previous day 196 basis points, the highest in nearly two weeks, ending the previous three consecutive working days down trend.
By the Federal Reserve to raise interest rates and the impact of the dollar index soared last week, the central parity of RMB go down, five working days down 536 points. However, according to today's foreign exchange trading center data, as of December 16, CFETS RMB exchange rate reported 94.99, up 0.31 over the previous week. The rise in the data suggests that while the RMB has depreciated against the US dollar, other non-US currencies have depreciated against the US dollar so that the RMB has appreciated against other major non-US currencies and the RMB exchange rate has risen, The currency remained basically stable.
Analysts believe that the devaluation of the RMB next year, the pressure is still difficult to digest. As the dollar continues to strengthen, next year the global financial markets may be a return to capital flows of the United States, the RMB exchange rate pressure may be greater. In this case, the central bank should increase the management of cross-border capital flows to prevent further depreciation of the RMB is expected to intensify.
Hebei Shengtian Market observer Mike Said that the exchange rate is benefit for foreign trade. API 5CT Seamless Steel Casing Pipe But recently the raw material prices increased too much. The prices had been near the level of the year of 2007. It is the first time, the prices stable keeping to go up since the year 2013. There is no any sense the price can low down once again.