First manuscript: 11:05 Updated: 12:18
RMB breaks 7! The new Taiwan dollar plunged more than 1.5 points (photographed by reporter Chen Meiying)
[Reporter Chen Meiying/Taipei Report]The offshore renminbi has been breached for more than 2 years. After the sharp depreciation of 7 yuan to 1 US dollar yesterday, the onshore renminbi also fell below the full price of 7 yuan in early trading. hence, the originally weak new Taiwan dollar The exchange rate against the US dollar fell again, breaking 1.64 points, hitting a low of 31.294 yuan and temporarily closing at 31.286 yuan at noon, a sharp depreciation of 1, 56 points. Taipei Foreign Exchange Brokerage Company was US $ 867 million. The devaluation of the New Taiwan Dollar is unstoppable and the next step could be the depreciation to the price of 31.5 yuan.
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With the US inflation rate rising more than market expectations in August, various sectors predict an increase in the likelihood that the Federal Reserve will raise interest rates by 3 yards next week. Some investment banks even predict that the Fed can raise interest rates by 4 yards at a time, and the federal benchmark interest rate will rise over 4% by the end of the year. Market panic accelerated the flow of funds to the US dollar and non-US currencies lost key price levels this week After the exchange rate of the New Taiwan dollar against the US dollar fell below the 31 yuan mark on the 14th, today with the sharp decline of the RMB, it depreciated again by over 1.5 yuan in the first trading at 31.2 yuan. the price also went down.
Looking at major Asian currencies, after the Japanese yen depreciated below 144.95 yuan against the US dollar, Japanese officials raised the “verbal intervention” decibel. The market also reported that the Bank of Japan was already preparing for the exchange rate intervention. Today, the exchange rate of the yen against the US dollar is around 143 yuan. The Korean won also stabilized slightly today after hitting a bottom yesterday, but the renminbi joined the ranks of the competitive devaluation and the renminbi, regardless of the onshore price or the FOB price, all depreciated below the currency barrier. 7 yuan and continued to decline.
Shares in Taiwan fell more than 100 points today due to linking US stocks, showing a double kill situation for foreign stocks and exchanges.
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