Chinese official media: Moderate fluctuations in exchange rates are conducive to maint

At the time of the decline in the exchange rate of the RMB against the US dollar, Chinese official media published a comment article saying that moderate fluctuations in exchange rates are conducive to maintaining economic operation in a reasonable range.

The Securities Times of the People's Daily in charge of the Securities Times on Wednesday (August 24) published a comment article signed by Wei Shoguang stating that the risk of recession in the global economy has intensified, and under the tightness of the Federal Reserve, the spread is further expanded.Pushing the US dollar index is a solo.

The article believes that the US dollar index continues to rise, coupled with China's interest rate cut, the exchange rate of the RMB against the US dollar is naturally under pressure.Nevertheless, compared with the sharp decline in the recent euro and the exchange rate of the Korean won, the performance of the RMB is still strong.

The article wrote that most researchers reminded that the expansion of the spread at home and abroad has limited impact on the RMB, and it is not advisable to pay too much attention to the pressure on the depreciation of the RMB.In fact, after the introduction of China's foreign trade surplus data in July, trading funds have significantly replenished.After the interest rate cut in August, the spread of China and the United States was increasing, which did not cause obvious foreign capital outflows.

The article said that for a long time, a strong basic account surplus has been providing solid support for the renminbi.It is necessary to see that the supply capacity of Europe and other regions has obviously weakened, and the impact of the transformation of the energy crisis and the transformation of the energy structure has shown a new feature of China's foreign trade exports.From this perspective, the appropriate depreciation of the renminbi is conducive to maintaining export competitiveness in the context of the decline in global economic prosperity, which is of positive significance to maintain economic operation in a reasonable range.

The US dollar index exceeded the 109 mark on the two sets of the week, hitting a new high in 20 years.The exchange rate of the RMB against the US dollar is degraded in the shore and offshore market, approaching the 6.9 mark.