Recently, the RMB exchange rate against the US dollar depreciated sharply, breaking 6.5 yuan, and the mid-price also fell sharply by more than 500 points on the 9th. At the same time, the US dollar index broke out with four consecutive positive moments and rose above 92 points, hitting a new high of more than three months.
analysts pointed out that the reason for the decline in the RMB exchange rate against the US dollar in this round is the strengthening of the US dollar, and the drivers behind it include the strengthening of the US economic recovery expectations and the recovery of the yield of US bonds and , which led to the return of funds. In the future, U.S. Treasury yields still have a chance of upward trend and may continue to put pressure on high-valuation sectors.
fell 543 points in a single day
htmlOn March 9, the mid-price of RMB exchange rate against US dollar was 6.5338 yuan, down 543 points, setting a new low in the past two months.
Then the onshore RMB exchange rate against the US dollar continued to fall, opening more than 100 points lower, and the intraday decline narrowed. As of 11:23, the onshore RMB exchange rate against the US dollar was 6.5233 yuan, about to smooth out the increase in early January and return to the level in December last year.
Offshore RMB against the US dollar exchange rate was ahead of the trend. It fell below the 6.55 yuan mark during the trading session on March 8, and rebounded on the 9th. As of 11:26, it was 6.5368 yuan.
For most of the year, the RMB exchange rate against the US dollar has been in a sideways state. The more obvious depreciation momentum has only recently emerged. From a weekly perspective, the onshore RMB has depreciated for three consecutive weeks, and the depreciation rate last week (the week of March 1) has expanded to 178 points.
Onshore RMB exchange rate weekly trend against US dollar
US dollar strengthening is the direct reason
It is worth noting that while the RMB exchange rate against US dollar depreciates, the exchange rate of RMB against Euro, Japanese yen and other currencies is still appreciating. Last week, the three major indexes of RMB exchange rate rose across the board.
Source: China Currency Network
Source: Wind
Source: Wind
Source: Wind
Source: Wind
Source: Wind
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