RMB out of the second week of Lianyang, stabilized around 7.26, and guarded the psychological defense line of 7.3.
This is closely related to the recent announcement of a series of "big moves".On September 1, the central bank announced that it would reduce the reserve ratio of foreign exchange deposits of financial institutions by 2 percentage points to 4%.From August 31st to September 1st, the property market was coming out. Shanghai and Beijing announced the "recognition of houses and not recognizing loans". The proportion of down payment in various places was reduced, and the interest rate of the stock loan in the first house was reduced.In addition, although it has been in a contracted area (<50%) for five consecutive months, the China Manufacturing Purchasing Manager Index (PMI) as of August has rebounded for three consecutive months.
Traders and strategists at home and abroad generally believe that the significant inverted spread between China and the United States has always been a pressure point for the RMB exchange rate, but the pressure in the second half of the year may have a tendency to ease.
RMB is stable below 7.3
At the beginning of last week, under the advantages of the stamp duty adjustment, the RMB exchange rate was lowered, but then the stock market fell into a shock, and the RMB exchange rate returned to the decline.The potential was closed at 7.2675 last week, and the weekly increased by 0.29%.
Last Friday, the People's Bank of China announced that in order to improve the ability of foreign exchange funds for financial institutions, it was decided that from September 15th, the foreign exchange deposit reserve ratio of financial institutions was 2 percentage points, that is, the foreign exchange deposit reserve ratio was from the current 6%.Low down to 4%.
As early as September last year, as the renminbi approached the 7 mark, the central bank announced at the time that the foreign exchange deposit reserve ratio of financial institutions was 2 percentage points (reduced from 8%to 6%), so as to appropriately increase the supply of US dollars to play a buffering strong US dollar.effect.Since then, the central bank has re -levied a 20%foreign exchange risk reserve for the long -term foreign exchange sales business to cope with the side effects of the depreciation of the RMB exchange rate and has not been canceled.
In addition to these measures, from June to the present, the central bank has continuously released a stable signal through intermediate prices.Traders told reporters that the degree of deviation of intermediate prices in recent days is still greater.For example, on September 1, the intermediate price of the RMB to the US dollar exchange rate was 7.1788 yuan, an increase of 23 points from the previous value, and the model displayed in the middle price was 7.2962.The price is 7.1811, and the shadow variable of the counter -cycle factor on the day is about 970 points.Earlier in August, many strategists told reporters that the state -owned banks have signs of entering and selling stable RMB exchange rates.
