RMB exchange rate on the US dollar exchange rate on Friday (March 22)It once fell to 7.24, a low point in the past four months, and prompted state -owned banks to intervene in defending RMB.
According to Reuters, the exchange rate of the RMB against the US dollar fell below 7.2 on Friday, reaching a low point of 7.24, the lowest level since November 17 last year.
At the same time, the US dollar rose to 7.2236 in the shore RMB, which was a new high since November 17, 2023, and it was also a new high since November 17 last year.
Market sources said that Chinese state -owned banks subsequently involved and purchased RMB with US dollars.As of 10:40 am, the RMB exchange rate was 7.224, close to the opening price.
RMB fell more than 2%within three months, and was under pressure due to the market's expectations of further relaxation of monetary policy.
In addition, the central bank of China reduced the middle price of RMB on Friday, from $ 1 from 1 US dollar on Thursday (21st) against RMB 7.0942, lowered to $ 1 to RMB 7.1004 yuan, lowered 62 basis points.
Bloomberg said that the central bank of China has lowered the middle price of the RMB this time, the largest since the beginning of February this year.From the perspective of some market participants, this indicates that when the economic recovery is faltering, Beijing is approved further depreciation of the RMB.
