Bank staff are display of RMB, dollars. Zhang yun was taken
China news service on August 8 in Beijing (Reuters) (Xia Bin), the China foreign exchange trade center will be the yuan central parity rate against the dollar on the previous trading day down 43 points, at 7.0039, the lowest since April 21, 2008. At this point, the yuan central parity rate against the dollar has six consecutive trading day down.
On the day of the foreign exchange market, offshore renminbi spot exchange rate against the dollar rebounded after briefly fell below 7.1, the onshore at the spot exchange rate against the dollar remained range-bound, by Beijing time 8, 10, between 7.0722 and 7.0458, respectively.
"RMB exchange rate volatility is normal, the future can depreciation of RMB exchange rate, may also rise, two-way floating is the norm in the RMB exchange rate, exchange rate movements depends more on the effect of changes in the money supply and demand and market sentiment." New era xiang-dong pan securities chief economist, said the yuan's exchange rate is decided by economic fundamentals for a long time, the middle is determined by monetary policy, spreads, short-term affected by risk aversion.
China's state administration of foreign exchange, a spokesman for chun-ying wang said that in the near future, the United States to upgrade trade friction on the impact of the RMB exchange rate, the market has made a full reaction, and keep in a reasonable and balanced level basically stable. China's current macroeconomic fundamentals, good basic balance of payments, foreign exchange market main body behavior of rational trading, maintain a good market order, fully demonstrates China's foreign exchange market is more mature. (end)
Article source China News Network
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