my country’s foreign exchange market works steadily, and the resilience of the RMB is highlighted
CCTV News: At the beginning of the new year, the RMB exchange rate continued to rise at the end of last year and continued to rise in the first trading days of the year.
From the end of last year to the beginning of this year, the RMB exchange rate has bounced and rebounded. According to data from the China Foreign Exchange Trade System, the RMB exchange rate has continued to fluctuate and appreciate since November last year. On January 9, the RMB spot exchange rate against the US dollar closed at 6.7712, an appreciation of 7.37% since the beginning of November last year, the first time since mid-August last year which rose above the 6.80 mark.
On the other hand, the CFETS RMB exchange rate index, the BIS basket of currencies RMB exchange rate index and the SDR basket of currencies RMB exchange rate index increased across the board. the line, showing the strength of the RMB against a basket of currencies.
Experts said that in recent years, the RMB exchange rate formation mechanism has become more market-oriented, and flexible two-way floating has gradually become the norm. In the face of external shocks, the renminbi has shown resilience, and my country’s foreign exchange market has performed steadily, providing a good external environment for economic development.
The head of the central bank recently said that since the end of last year, the RMB exchange rate has rebounded sharply and the inflow of foreign capital has continued to grow, which fully reflects the fact that the international financial market is firmly optimistic about my country’s economic development and is full of confidence in economic fundamentals such as prices. In the medium to long term, the RMB exchange rate will maintain two-way fluctuations, but will continue to strengthen overall.
