Sunnyjoint Will Pay Attention To Changes In Exchange Rates.

- Oct 11, 2018-

On October 11, the central parity of the RMB against the US dollar was reported at 6.9098, which was adjusted to 26 points. The median price of the previous trading day was 6.9072; the official closing price of the previous trading day was 6.9194, and the last trading day closed at 6.9240. At the same time, the People's Bank of China did not conduct open market operations today, and did not operate for the ninth consecutive trading day. Today, no reversal repurchase expires.

At present, as the central parity of the RMB is lowered for four consecutive trading days after the central bank's weekend RRR cut, the trend of the RMB in the market is still weak. At the beginning of the day, the offshore RMB against the US dollar fell below the 6.94 mark.

Experts believe that the RMB exchange rate has sufficient conditions to maintain a basic stability at a reasonable and balanced level, and there is no room for significant depreciation. Since the beginning of this year, the RMB has depreciated by 6.26% against the US dollar, but the exchange rate of the RMB against a basket of currencies has depreciated by 2.36%. It can be seen that the RMB is relatively stable relative to other emerging markets.

The exchange rate also affects the export of foreign trade, and Sunnyjoint will always pay attention to the exchange rate changes.