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Fed rate hike boot floor

in November 2015, China Bank settlement 743.2 billion yuan (equal to 116.7 billion US dollars), selling 1.0922 trillion yuan (equal to 171.5 billion US dollars), FX a deficit of 349 billion yuan (equal to 54.8 billion US dollars), compared to the previous month increased by about 1.7 times.   

in November, the Bank Valet in the settlement of 721.9 billion yuan in China, sales of 998.1 billion yuan, foreign exchange settlement and sale a deficit of 276.2 billion yuan; Bank settlement of 21.3 billion yuan, sales of 94.1 billion yuan, FX deficit 72.8 billion yuan.

China Merchants securities chief macro analyst Xie Yaxuan believes that Bank Exchange settlement and sales there are three main reasons for the growing trade deficit. Is a long-term net purchase of foreign exchange from the $ 1.7 billion in November to $ 6.7 billion, drop in long-term net purchase of foreign exchange for 3 consecutive months. In October China's situation is not sustainable and the basis of improving cross-border capital flows, foreign exchange market jitters eased, benefited counter-cyclical macro-prudential policies effective, forward purchase contract amount the deficit continued to shrink. Second, Exchange tight balance of supply, the goods trade surplus led to reduction in supply of foreign exchange in the market.   Three is the enterprise's financial operations are still reduced export proceeds rates and increasing imports to pay rates.

"two points can be seen from the structural changes, valet Exchange settlement and sales declined in the month, mainly Exchange settlement and sales of the goods under the trade balance worsened, down 10.4 billion dollars from a month earlier, and imports and exports declined by 7.5 billion trillion.   "Xie Yaxuan said.

Xie Yaxuan said Bank Exchange settlement and sales November deficit of 349 billion yuan, reducing 221.1 billion yuan from the previous month, which Exchange settlement and sales deficit of 276.2 billion yuan, with the Central Bank's foreign exchange deficit of 49.6 billion dollars and to remove the Central Bank's official exchange rate fluctuations reserves balance fell by $ 50 billion the size of close, mutual authentication between the data.

 

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