Foreign Media: RMB Still Has Depreciating Space In The Short Term

< p > recently, the downward trend of < a href= "http://www.91se91.com/news/index_c.asp" > RMB > /a > has not been reduced. Foreign media have different opinions on this.

Some believe that the future elasticity of RMB will be further enhanced and two-way volatility will become normal. Foreign media quoted the technical chart analysis of German Commerzbank that the spot exchange rate fall will stop, and foreign media predict that the central parity of RMB against the US dollar will reach about 6.3, and it will no longer fall.

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< p > according to the April 26th report, according to the data released by the central bank [micro-blog], in February, the newly increased foreign exchange occupied by financial institutions was much lower than that in January and fell to a low level of nearly 5 months, indicating that the weakening of the exchange rate since mid February has a great relationship with the demand and supply of the foreign exchange market.

On the 26 day, although the RMB depreciated against the US dollar, compared with the main reserve currencies and emerging economies, the renminbi exchange rate fluctuated in general.

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< p > analysis indicates that the RMB exchange rate flexibility will be further enhanced in the future, and the "a href=" http://www.91se91.com/news/index_c.asp "two-way fluctuation" /a will become the norm.

In the short term, there will still be room for depreciation of the renminbi, but the overall trend will have an upward trend during the year.

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< p > in addition, according to the Singapore Lianhe Zaobao, 26, the German commercial bank said that according to the technical chart, the trend of the Yuan's distant exchange indicates that the spot rate will drop.

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< p > 25, China's central parity of RMB against the US dollar reported 6.1576 micro rise, the day before yesterday was 6.15890.

However, in the spot market yesterday, the yuan fell 0.06% against the dollar in early trading, at 6.2525 yuan, which continued to hit a low intraday since December 12, 2012.

Some analysts believe that the expansion of the two-way fluctuation range of the RMB and the expectation of eliminating the one-way appreciation of RMB, so as to contain the "a href=" "http://www.91se91.com/news/index_c.asp" > hot money < /a > inflow.

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< p > Lianhe Zaobao, citing foreign media reports, said Rudolf Rudolph Axel, a technical analyst at Commerzbank in London, predicted that the renminbi's downward trend would be halted on the day before yesterday, and that it would rebound to a high level of 6.2430/05 yuan in April after falling to 6.2711.

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< p > Bloomberg compiled data show that the 12 month RMB remittance reached 6.2725, the lowest level in 8 months.

Spot market, China foreign exchange trading center data show that the RMB against the dollar yesterday fell 0.18% to 6.2489 yuan, intraday fell to 16 months low 6.2509 yuan.

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< p > according to the Wall Street Journal (blog, micro-blog) on April 26th, although the RMB has not yet shown signs of stopping the decline, it has been estimated to drop to 1 yuan to 6.3 yuan or so.

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Since the end of January, the yuan has fallen by 3.4% against the US dollar, hitting a 16 month low of P.

The renminbi also suffered a three month decline two years ago, when the debt crisis intensified in Europe, prompting investors to withdraw from the more risky market, but that fell less than half of the current round.

In a freely floating offshore market, the renminbi's decline is even greater.

Although the Central Bank of China has raised the central parity of RMB against the US dollar in recent days, and the middle price usually establishes the trend of exchange rate, the RMB continues to fall, which shows the strong market power.

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P, Holland International Group (ING) and CIBC are expected to fall to $1 to 6.3 yuan, and will no longer fall.

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