RMB Spot Exchange Rate Once Fell Below The 6.90 Mark.

In the morning, the RMB traded against the US dollar at a median price of 6.8972 yuan, a sharp depreciation of 241 points compared with the previous day, with a reduction of 0.35%, the largest decline in 7 weeks.

On Thursday (December 9th), the ECB interest rate resolution upset the market, and the US dollar index rose sharply after a short decline, which also led to a decline in the offshore and offshore renminbi.

RMB spot exchange rate once fell below 6.90 mark, now 6.8989.

Offshore renminbi fell short of 6.92, but then stabilized slightly, up to 6.9181.

The National Bureau of statistics released the data of China's CPI and PPI in November 2016 on December 9th (December 9th), of which the CPI rose moderately in November, and the PPI increased.

Warmer.

Specific data show that CPI rose 0.1%, an increase of 2.3% over the same period, PPI rose 1.5%, an increase of 3.3% compared with the same period, China's November inflation data continues to maintain a strong trend.

However, China's CPI and PPI data were beautiful, but the offshore RMB against the US dollar plunged more than 200 points in the early morning market on Friday, and fell below the 6.90 yuan mark.

Haitong Securities macro team Jiang Chao and Gu Xiao Xiao said that China's CPI grew by 2.3% in November, up three consecutive months, rising by 0.1%.

It is expected that inflation will be relatively stable in December. Vegetable prices and prices will remain stable in the early December. However, with the increase of the Spring Festival, the price of food is expected to increase. The base period of the same period last year accelerated from December. It is predicted that the CPI will be stable at 2.2% in December.

Haitong Securities also said China's November

Continued to jump, PPI in November continued to rise sharply to 3.3%, a 1.5% increase in the ring ratio, short-term inflation pressure, currency is still tight, commodity price increases superimposed on the Spring Festival factor, short-term inflation is still upward pressure, this month, the Fed raised interest rates have been on the move, in November the expansion of the decline, the depreciation of the exchange rate is expected to remain unchanged, taking into account the high housing prices, asset bubble is still large, the currency will remain tight state.

Tihanyi Tihanyi, a senior emerging market strategist at TDS, said that after the US presidential election results came out, the US bond yields and the US dollar exchange rate accelerated the trend of further devaluation of the renminbi. Currently, the foreign exchange market is still in the basic trend of strengthening the US dollar, so it is expected that the exchange rate of the RMB against the US dollar in 2017 will continue to decline in 2017.

Chief economist of Bank of Communications

It is believed that in the coming period, there will still be greater pressure on capital outflow and currency devaluation in China. Mutual enhancement of capital outflow and exchange rate depreciation may be a major risk source. We should be highly vigilant and take effective measures to guard against it.

Li Daokui, a consultant to the former Central Bank of China, said that the main reason for the devaluation of this round is the massive escape of funds. This trend will further cause the panic of RMB devaluation. Next year, the risk of China's economy will shift from real estate to large scale capital outflow.

In the recent international market, the US dollar has shifted to a high level of consolidation, creating an opportunity for the RMB exchange rate to stabilize and stabilize, and it is not difficult to see the efforts of the monetary authorities to maintain stability.

Analysts said that the domestic economic operation continued to be stable and good, and the US dollar exchange rate reflected the full range of interest rate expectations, and the high volatility increased. Considering the increasing intensity of exchange rate stability, the exchange rate of RMB against the US dollar would continue to be in a period of rest until the end of the year.

Over the next year, the demand for individual purchase of foreign exchange and the demand for seasonal purchase of foreign exchange have increased, or the downward pressure on the RMB exchange rate has been increased again.

However, with the support of the abundant reserve policy, the depreciation of the RMB against the US dollar will not be out of control, and in the main non US currencies, the RMB will remain relatively strong.

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