日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Finance

State to relax RMB exchange rate rules

By Chen Jia | China Daily | Updated: 2017-09-14 07:21

State to relax RMB exchange rate rules

Chinese 100 yuan banknotes are seen in a counting machine while a clerk counts them at a bank in Beijing, March 30, 2016. [Photo/Agencies]

New system set to pay more heed to market supply and demand

The renminbi exchange rate will be more flexible, basically determined by the market's supply and demand situation, a senior official with the State Administration of Foreign Exchange (SAFE) said on Wednesday.

The currency's exchange rate reform towards a more market-oriented mechanism will continue, said Lu Lei, the SAFE deputy director, while the renminbi weakened for the second straight trading session after hitting the 21-month high on Monday.

The daily reference rate, or the midpoint of the renminbi exchange rate set by the People's Bank of China, dropped to 6.5382 per dollar on Wednesday, down by 0.59 percent from the peak after a 11-day rise. It weakened to 6.5419 per dollar in offshore trading.

The PBOC scrapped a rule this week that requires banks to reserve a 20 percent deposit on forward sales of foreign exchange, a sign that the central bank has relaxed capital controls. The rule was enacted in October 2015 as a measure to restrain capital outflows and stabilize the yuan.

The fast rally of the yuan is unsustainable, which will be replaced by two-way fluctuations, although the stable macro-economic fundamentals will continue to support its strong value, said Cao Yuanzheng, head of the research center at Bank of China International.

A rebound of capital inflows has been seen since the second quarter as the main reason to support a stronger yuan, when foreign investors saw arbitrage opportunities due to the interest margin between the yuan and the dollar, according to Cao.

The further opening-up of the domestic capital market, including the Bond Connect program between Hong Kong and the mainland, has facilitated the yuan's appreciation, he added.

Wen Bin, chief researcher with China Minsheng Bank, said: "A more flexible exchange rate means that the central bank may allow a broader fluctuation interval around the daily trading reference."

The yuan can now rise or fall by at most 2 percent on either side of the reference rate on each trading session.

The relaxing of capital controls is expected to put the yuan's internationalization process back on track, as analysts said. It means that the yuan's promotion in international payments may rebound after a decline since 2016, according to Society for Worldwide Interbank Financial Telecommunications.

As the opening of China's capital market will continue, the space for arbitrage due to the exchange rate gap between onshore and offshore markets will be gradually removed, the SAFE official said.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
 
主站蜘蛛池模板: 91色在线视频 | 国产亚洲欧美视频 | 四虎免费视频 | 日韩欧美国产网站 | 大香蕉毛片 | 91亚洲国产成人久久精品麻豆 | 久在线| 午夜av在线免费观看 | 亚洲成人aaa | av黄色在线观看 | 久久网址 | 在线观看一区二区三区视频 | 日韩一区免费 | 在线观看的av网址 | 日韩av在线看免费观看 | 午夜精品在线 | 99在线视频免费 | 欧美一区二区三区爽爽爽 | 亚洲五码av | 欧美888| 欧美色撸撸 | 国产v片在线观看 | 午夜私人影院 | 精品中文字幕在线观看 | 欧美日本激情 | yellow在线观看| 手机成人免费视频 | 亚洲天堂自拍 | 成年人免费网站在线观看 | 久久国产精品波多野结衣 | 午夜资源网| 欧美一级特黄视频 | 日本黄色免费视频 | 国产精品一区二区av | 日本亚洲最大的色成网站www | 伊人手机视频 | 国产伦理久久精品久久久久 | 久久tv | 成人激情视频在线播放 | 午夜精品在线播放 | 欧美日韩色综合 |