China Foreign Exchange Trade Center on the 19th announced the central parity of the RMB against the US dollar the previous day up 196 basis points, at 6.9312, ending the previous three consecutive trading days down trend.
Beijing time on December 15 morning, the Federal Reserve announced interest rates to promote the dollar index rose, the dollar appreciated, caused most of the global non-dollar currencies lower.
Affected by this, the central parity of the RMB against the US dollar from December 14 to 16 for three consecutive days of decline, were demoted to 574 basis points。
"Before the market for the Federal Reserve to raise interest rates have been digested a lot, the yuan because the Fed interest rate depreciation against the dollar, is a short-term normal market response." Renmin University of Chongyang Financial Research Institute, director of macro-Jia Jing told reporters, The Fed's decision to raise interest rates, limited impact on the renminbi.
Because the Federal Reserve to raise interest rates to break through the 103 high dollar index, down 19 shocks, once touched 102.61. As a result, the RMB exchange rate against the US dollar rebounded.
On the 19th, the offshore RMB exchange rate against the US dollar rose, up to over 300 points; onshore RMB against the US dollar also rose more than 200 points.
Earlier, the 2016 Central Economic Work Conference stressed the need to strengthen the flexibility of the exchange rate, while maintaining the RMB exchange rate at a reasonable level of stability on the basic stability.
Jia Jingjing said that this means that China will continue to promote the RMB exchange rate market-oriented reforms, and will not allow the RMB exchange rate slip out of a reasonable range of China's economic situation and financial markets panic, "China's economic fundamentals is still very good, Exchange rate play a supporting role. "(End)
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