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There is no long-term depreciation of RMB based

fell for 8 consecutive days, the longest decline since June, median price hit a record low of sharp falls in offshore markets ... ...   RMB exchange rate's recent back-to-back decline sparked concern.

Yuan future be depreciated against the dollar, the Central Bank issued RMB devaluation of the exchange rate index is meant to "green light"?   In this regard, the reporters interviewed some market participants and industry experts.   

experts said the recent pressure to do just a bit too large in market supply and demand, but many factors affecting the exchange rate, in short term, the Yuan rise are possible; medium-and long-term, the Yuan depreciated space does not exist.

volatility was the main reason the dollar interest rate expectations

on December 16, Yuan central parity against the dollar for the 8th day fell at 6.4626, dropped another day on 67 basis points.   The same day, offshore RMB spot rate briefly dropped below 6.4660.

China Merchants securities chief macro analyst Xie Yaxuan told reporters: "short-term adjustment of RMB exchange rate mainly due to Federal Reserve rate hikes looming, the market that the dollar interest rate is the probability of the event, then many currencies, including the Yuan's devaluation. For risk aversion, it is generally increased holdings of foreign assets. "

from the perspective of supply and demand, the weaker Yuan is bound to be strong demand for dollars in the market. According to experts, some large companies purchase loans in the near future is one of the factors. Lower borrowing costs in the past, enterprises generally accumulate large dollar debts.   In order to avoid the dollar losses, companies are accelerating fiscal adjustment.

"always had exchange rate fluctuations, the Yuan has risen against the dollar will have fallen, does have a downward pressure on the short term, but not representative will have been banished forever. "Xie Yaxuan said major international currencies and it 10% a normal fluctuation, devaluation of the Yuan fell for 8 days before us 1.2%, such short-term fluctuations and the so-called" collapse "or" devaluing channel "are two different things. Two-way fluctuation of RMB will increase in the future, no need to overreact.

 

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