RMB Three Jump &Nbsp, Break Up Against US Dollar 6.6

Affected by the overnight fall of US dollar and other factors, 13 days.

RMB across the 6.6 pass

The foreign exchange center announced that on the 13 day, the intermediate price of the US dollar exchange rate in the inter-bank foreign exchange market was US $1 against RMB 6.5997 yuan, which fell by 131 basis points from the previous trading day. At the same time, it broke through the 6.60 integer pass and created third new exchange rates since the new year.

Data show that in the 8 trading days since 2011, the central parity of RMB against the US dollar has appreciated 230 basis points and appreciated by 0.35%.

Compared with the start of the reform in July 2005, the appreciation of RMB against the US dollar reached 25.31%.

On the spot trading, under the guidance of the middle price, the US dollar to the spot exchange rate of RMB on the 13 day was significantly lower at 6.5970, the lowest 6.5931 in the intraday market, which failed to break the historical low of 6.5896, which was set at 31 in December 2010.

At the close, the US dollar spot exchange rate for RMB was 6.6046, up 0.01% from the previous trading day.

However, the key position of the RMB exchange rate rose to 6.60 on Thursday has limited impact on overseas markets.

On the offshore market, the US dollar against the RMB 1 year NDF around the 6.42 to 6.44 line fluctuations, compared with the previous day, little change.

The pace of appreciation is expected to continue.

Market participants believe that the overnight dollar index fell sharply, the international oil price approached the high point in the previous stage, and the external pressure of appreciation helped to push the RMB exchange rate up to 6.60 points on Thursday.

In the short term, the appreciation of RMB is still expected to continue.

Xie Dongming, a foreign exchange analyst at OCBC in Singapore, said market rumors that China had subscribed 1 billion 100 million euros of Portuguese national debt in a non public way, made Portugal's latest issue of public debt better than market expectations. Meanwhile, the good euro area economic data and a slightly positive US economic Brown Book jointly suppressed market sentiment.

Many factors have triggered a sharp decline in the US dollar index.

On the 12 day of the international foreign exchange market, the US dollar index fell sharply by 1% to 80.02 points.

Xie Dongming also believes that Geithner, the US Treasury Secretary, reiterated on Wednesday that it hoped the renminbi would appreciate faster, which might be one reason why the central parity of the RMB exchange rate has risen by 6.60.

At the same time, Societe Generale economist Lu political commissar said that according to the statistical study of Xingye Bank's two remittance reform, the change of the central parity of the RMB exchange rate is closely related to the international crude oil price. The continuous rising of international oil prices in recent years is also an important factor in promoting the recent RMB appreciation, which coincides with the "market view of inflation appreciation".

Lu commissar believes that the short-term appreciation of the renminbi is still expected to continue, and whether the international crude oil price will continue to be high is also worth further attention.