RMB'S Biggest Record Is Bigger Than Harm.

According to the latest data from China foreign exchange trading center, the central parity of RMB has again set a record high in February 21st, and the latest price of $1 is RMB 6.5705 yuan.

On the evening of 18, the Central Bank of China announced that the reserve requirement ratio would be raised again.

But in the context of the Bank of England's rate hike expected to push the pound and the euro to join forces, the dollar finally maintained its weak adjustment.

From February 14th to February 21st, the six trading days were RMB 1 yuan to 6.5985 yuan, 6.5929 yuan, 6.5855 yuan, 6.5800 yuan, 6.5781 yuan and 6.5705 yuan respectively.

The industry believes that the G20 meeting was held this time.

After discussion, the finance ministers of the group of 20 (G20) reached a consensus on establishing a measure of global economic imbalances on the 19 day. They agreed to formulate guidelines for each indicator assessment method and narrow the global economic imbalance through international multilateral cooperation and promote sustainable development.

The Member States agreed to select a package of indicators to measure economic imbalances and to identify fiscal deficits and government debt, private savings rates and private debt, trade accounts and net investment income and pfer accounts as indicators.

Exchange rate, fiscal and monetary policies will also serve as a reference factor for measuring economic imbalances in the future.

Zhou Xiaochuan, governor of the central bank, said recently that the Chinese government will decide its own appreciation step by step and not compromise with other countries' pressure.

Zhou Xiaochuan said that external pressure has never been an important factor, and we have never paid special attention to it.

In addition, Zhou Xiaochuan also said that in order to develop the domestic financial market, China needs to reform its exchange rate system and improve its flexibility.

At the same time, Yi Gang, director of the State Administration of foreign exchange, said recently that the exchange rate of RMB against the US dollar is at an appropriate level, and that it will adjust dynamically in the light of market changes.

The industry also believes that the overnight dollar index weakened significantly, the Foreign Exchange Bureau launched the foreign exchange options trading, and the effective exchange rate of the renminbi fell in January, and other news is also jointly promote the RMB exchange rate hit a new high, and is expected in the short term, the renminbi is expected to set off a new round of rising value.

Foreign exchange traders said that the overall appreciation of the RMB exchange rate this year is much higher than the previous market expectations. It is expected that the appreciation rate of RMB will reach more than 5% this year.

Data released on Thursday by the Bank of International Settlements (BIS) showed that the real effective exchange rate index in January 2011 was 118.13, down 1.52% in the annulus ratio, reversing the previous two consecutive months of growth.

The data also showed that the renminbi was effective in January.

In addition, confrontations