Now The RMB Exchange Rate Has Expanded To 2%.

< p > > a href= "//www.sjfzxm.com/news/index_c.asp" > financial > /a > strong commodities are short or difficult to get out of "haze".

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< p > with the expansion of the floating rate of RMB exchange rate, the speed of RMB depreciation may accelerate in the short term. The "financing copper" will gradually withdraw from arbitrage market. Shanghai copper (44590, 240, 0.54%) is afraid of effective rebound, other commodities may be dragged down, and it is difficult to get out of the "haze".

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< p > according to the announcement issued by the central bank, the floating rate of RMB against the US dollar in the inter-bank spot foreign exchange market has expanded from 1% to 2% since today.

This is the third expansion of the central bank since the reform in 2005.

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Less than p ago, the renminbi has seen a rare continuous depreciation. Analysts generally believe that this is the central bank's efforts to create a market atmosphere for expanding the range of RMB exchange rate fluctuations.

"The central bank has been prepared for this. It only chooses to announce this news at the important time after the end of the two sessions. Therefore, the two-way fluctuation of the RMB exchange rate will become the norm, and the RMB exchange rate elasticity will further increase."

Ni Guanliang, a land futures analyst, told futures Daily reporters.

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< p > in the view of Zhao Xianwei, chief macroeconomic researcher of Galaxy futures, the continuous influx of hot money has made it obvious that the government has repeatedly regulated the real estate effect. This time, the central bank is determined to squeeze part of the arbitrage funds to match the macroeconomic regulation and control of the country.

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< p > last week, copper, iron ore and other varieties plummeted, also widely interpreted by the industry as the depreciation of the renminbi.

In the process of RMB devaluation, arbitrage space has been greatly reduced, and the huge bubble of "financing copper" and "financing mine" has been squeezed, thus triggering the release of the risk of these two varieties.

"Precisely because of the existence of arbitrage funds, copper has been strong in the early stage, and the collapse is a return of value.

Of course, there is also suspicion of excessive risk release, but it also shows that the market has to a certain extent has returned to reason.

Ni Guanliang thinks.

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< p > the central bank spokesman said that expanding the floating range of the RMB exchange rate is the institutional arrangement to enhance the two-way floating elasticity of the RMB exchange rate, which is not directly related to the RMB exchange rate rise or fall. The RMB exchange rate does not exist on the basis of a substantial appreciation, nor does it have the basis for a substantial depreciation.

With the advance of the reform mechanism of exchange rate marketization, the two-way fluctuation of RMB's full flexibility will become normal.

If the exchange rate fluctuates exceptions, the central bank will also implement the necessary regulation and management to maintain the normal fluctuation of the RMB exchange rate.

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< p > "with the expansion of the a href=" //www.sjfzxm.com/news/index_cj.asp "> RMB > /a > exchange rate floating range, the speed of RMB depreciation may accelerate in the short term." financing copper "and" financing mine "will also gradually withdraw from arbitrage market. In the process, it is very difficult to rebound effectively, and other commodities may be dragged down, so it is difficult to get out of the" haze ".

Ni Guanliang said.

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< p > Zhao Xianwei believes that at present, the reform of the state is active reform, and the potential economic growth capacity in China is still huge, so the expectation of RMB appreciation is still in the future. This is indeed a long-term trend.

The two-way fluctuation of RMB is an important step towards internationalization of RMB.

Now, this will impact domestic commodities < a href= "//www.sjfzxm.com/news/index_s.asp" > market < /a >, but at the same time favorable exports, in the long run, is a good thing for domestic products.

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