The Chinese people are worried that the RMB will continue to depreciate foreign exchan

(Shanghai Comprehensive News) As the RMB exchange rate continues to fall, some Chinese people have worried that the renminbi will continue to depreciate and the enthusiasm of exchange exchange will increase."Foreign Exchange Cows" reproduced the streets of Shanghai, and they fascinated the people who exchange foreign currency for foreign currencies with a more cost -effective exchange rate.

According to the First Financial Report, the exchange rate of the RMB against the US dollar has fallen all the way from February this year, causing many people to worry that the RMB will continue to depreciate and the enthusiasm for exchange for exchange will increase.

The manager of a state -owned bank branch in Shanghai said, "Worried about the depreciation of the RMB, there are many customers who intend to change the US dollar to the United States", and even customers have changed their foreign exchange quota for $ 50,000 (S $ 67,595) a year.Essence

At the door of the bank, there is also a foreign exchanges with "waiting for rabbits".A "foreign exchange scalper" waiting for customers in front of state -owned banks said that the exchange rate he provided was "more cost -effective than banks."As for the business and demand, he said, "there are still many customers who have come to me for the US dollar recently."

At the same time, by the pressure of the depreciation of the RMB, Chinese officials have also stabilized the price of the RMB by adjusting the intermediate price of the exchange rate.According to Bloomberg Monday (July 3), the opening of the RMB on Monday rose sharply, with a maximum increase of 0.5%, and the RMB exchange rate was once returned to 7.2, which was consistent with the middle price set by the People's Bank of China.

Bloomberg quoted the two traders, saying that major banks, including state -owned banks, sold a certain amount of US dollars to allow the RMB exchange rate to rise rapidly; when the central price set by the central bank, it stopped selling immediately.

It is reported that this is very similar to the situation when the renminbi fell last fall: the central bank required banks to respect the "pricing authority" of the middle price, and then the RMB appeared a rising model close to the middle price.Since last week, the People's Bank of China has set the middle price of the renminbi at a higher level than the market expectations.

According to China's exchange rate policy, the exchange rate of RMB foreign currency is allowed to float within 2%of the middle price.