(Beijing/Guangzhou Comprehensive News) Restrade of the Federal Reserve overlay China's official heavy policy release, reflectingInternational investors expect the offshore RMB against the US dollar exchange rate, and recovered the 7.0 mark on Wednesday (September 25), the first time since May 2023.
Comprehensive Caixin.com and the 21st Century Business Herald news, in the early morning of Wednesday, the exchange rate of offshore RMB against the US dollar rose to the 7.0 mark, hitting a new high since May 17, 2023.
The People's Bank of China authorized the China Foreign Exchange Trading Center on Wednesday that the RMB was reported to the US dollar at 7.0202 on the day, raising 308 basis points, a new high since May 22, 2023.
Due to the decline in the confidence of American consumers, the market has heated up 50 basis points on the Fed in November.Affected by this, the US dollar index fell, and non -US currencies generally rose.
In addition, the three major financial regulatory departments in China jointly held a press conference on Tuesday (24), announcing a package of economic stimulus policies, including .Reduce the interest rate of 0.5 percentage points of the stock mortgage .
Wang Qing, chief macro analyst of Dongfang Jincheng, and Feng Lin, a senior analyst, believes that the exchange rate of the RMB to the US dollar has risen sharply. First, because the Central Bank of China announced interest rate cuts , increase the support of the real estate industry policy, effectively boost the market confidence .The second is that the Federal Reserve has greatly cut interest rates in September. The US dollar index tends to down, and it has also promoted the passive appreciation of the yuan to the US dollar.
They believe that the current foreign exchange market is more emotional, and the needs of the backlog of foreign exchange settlement before will be further released. The RMB exchange rate may have a certain amount of room for appreciation after "breaking 7".
