text/Liu Jia
htmlOn October 26, the index , which measures the US dollar against six major currencies, fell from 111.1399 to 109.9281, down more than 1%.As the US dollar index further weakens, the RMB against the US dollar spot exchange rate successively recovers multiple thresholds.
On the same day, onshore and offshore RMB rose rapidly during the session. Among them, more offshore RMB against the US dollar, which reflects investors' expectations, rose above the 7.2 mark, up more than 1,300 points from the previous trading day, with an intraday amplitude of 2.2059%. As of 19:00, it was at 7.1914, up 1.66%.
onshore RMB against the US dollar recovered the 7.17 mark, and as of 19:00, it was at 7.1730, up more than 1,300 points from the previous trading day, and 's increase of reached 1.85%. On the news of
, on October 25, the People's Bank of China and the State Administration of Foreign Exchange issued an announcement stating that it has decided to raise the macro-prudential adjustment parameters of cross-border financing of enterprises and financial institutions from 1 to 1.25 to increase the source of cross-border funds for enterprises and financial institutions and further release the signal of stabilizing the exchange rate .
In this regard, Wang Youxin, a senior researcher at the China Banking Institute, told the reporter of " China Times " that from the point of policy introduction, it is very necessary and timely. It will stabilize market expectations to a certain extent, release policy signals, break the chain of continuous strengthening and self-realization of exchange rate depreciation expectations, improve the cross-border capital flow situation, and promote the RMB exchange rate to gradually return to a rational trend.
It is worth noting that on the 25th, the Party Committee of the People's Bank of China and the Party Group of the State Administration of Foreign Exchange held an enlarged meeting. The meeting pointed out that the current potential growth rate of my country's economy remains at a high level, the factors and conditions for building a new development pattern are relatively sufficient, the recovery momentum of effective demand is becoming increasingly obvious, the price level is basically stable, the trade surplus is expected to remain high, and the RMB exchange rate remains basically stable has a solid foundation.
meeting required that the People's Bank of China and the State Administration of Foreign Exchange should continue to maintain a reasonable growth in the total amount of monetary and credit, increase support for key areas such as scientific and technological innovation, rural revitalization, regional coordinated development, and green development, and stabilize the macroeconomic market. Deepen exchange rate marketization reform, enhance RMB exchange rate flexibility, and maintain basic stability of RMB exchange rate at a reasonable equilibrium level.
Editor: Meng Junlian
