This week, the US dollar fell below the 6.45 mark against the RMB. fell 1200 points in 4 days, hitting a new low since October last year.
At the beginning of the week, when the RMB first depreciated, the northward direction flowed out. The depreciation speed accelerated in the second half of the week, and the northward direction began to flow backward. On Friday, foreign capital quietly bought at the bottom of , and northbound funds bought 6.765 billion yuan throughout the day.
USD 0 against the RMB once fell below 6.45
Textile and clothing companies that are highly sensitive to exchange rate are highly popular under the positive impact of RMB depreciation and have stepped out of the batch daily limit. As of Friday's closing, more than 20 textile and clothing concepts had hit the daily limit or rose by more than 10%.
As exchange rate fluctuations are expected to increase under the expectation of the Federal Reserve's balance sheet reduction and interest rate hike, related stocks still have opportunities to rise.
RMB depreciation beneficiary stocks This week, the bull stocks
'The reasons for the depreciation of the RMB this time mainly include four aspects:
1 is US dollar index hit a high value of 101.07 in the past two years;
2 is that the exchange rates of the Japanese yen, South Korean won and other countries have fallen sharply recently, and everyone is bearish on the currency in the Asia-Pacific region, exacerbating the decline of the RMB;
3 is that the epidemic has caused short-term impact on China's foreign trade, which has caused some investment institutions that were originally optimistic about the continued high prosperity of China's foreign trade to begin to worry, so they cut the long position of RMB ;
4 is that global energy prices have risen, causing Chinese import companies to increase their foreign exchange purchase quota to purchase energy products, which invisibly dragged down the RMB exchange rate further decline.
In the long run, the more important role of the depreciation of the RMB is to attract the increase in global capital allocation, and capital outflows are short-term.
Industry insiders also said: After the record outflow of funds in China from February to March this year, the demand for profit settlement or redemption of ETFs and active funds may have been met. It is expected that the outflow of funds will not continue to accelerate, because most institutions holding RMB bond are "long money", such as central bank , sovereign funds and passive funds tracking indexes, and need to lay out long-term and reliable assets. At the same time, given that the FTSE Russell WGBI index was included in Chinese bonds in October last year, it is expected to attract US$10 billion in funds into the Chinese bond market every quarter in the future.
Fang Xinghai, Vice Chairman of the China Securities Regulatory Commission,
After all, Fang Xinghai, Vice Chairman of the China Securities Regulatory Commission, also said: "Northern capital inflows, foreign capital has long-term and lasting confidence in China. Everyone should see the trend of long-term win-win cooperation, which no one can change."
