The rise in the dollar strong yuan rate another four month low

Today the RMB exchange rate against the U.S. dollar 6.1563, compared with the previous trading day down 30 basis points (March 6th). This figure is the lowest since November 10, 2014. It is reported, this year the yuan has fallen 373 basis points. On the other hand, a strong impetus to the dollar in non-agricultural employment report under a strong rise.
Chinese economic network reporter was informed that the access to relevant data, in February Chinese import and export value of 1.7 trillion yuan, a growth of 11.3%, of which exports 1.04 trillion yuan, an increase of 48.9%; imports of 666100000000 yuan, down 20.1% year on year; 370500000000 yuan record trade surplus. The national development and Reform Commission of Foreign Economic Research Institute International Cooperation Office Director Zhang Jianping said, this will help ease capital outflow, to avoid the drastic devaluation of the renminbi has a certain degree of effect, but the overall trend of the monthly data of impact on RMB co.. He stressed that, at present dollars at a new high, the main sources of stress in the devaluation of the renminbi dollar rise, while domestic drop must cut interest rates also constitute a market expectations of the devaluation of the rmb.
Some media analysts said, recent shocks the RMB against the U.S. dollar decline, taking into account the appreciation of the dollar, the yuan against the dollar has continued to depreciate the tendency, but the trade surplus data high or to give certain support of RMB exchange rate. At the same time, the industry is expected in the next period of time the RMB exchange rate against the dollar will remain weak, but the overall depreciation less space.

Kevin Luo

Kevin Luo

As a sales manager of Guangzhou Feng Da Machinery Co.,Ltd, I’m privileged to help people and solve problems. Find me on Face Book,Twitter, and let’s connect on LinkedIn.
Kevin Luo

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