The central parity rate of RMB against the US dollar was reduced by 162 basis points to 6.9985

category:Finance
 The central parity rate of RMB against the US dollar was reduced by 162 basis points to 6.9985


The open market of the central bank does not carry out reverse repo operation, and there is no maturity of reverse repo today.

Overnight in New York, the dollar index, which measures the dollar against six major currencies, rose 0.34% to close at 98.2956 at the end of the day. Ping An Securities Analysis said that in the short term, the epidemic mainly affects the RMB exchange rate through the following two channels: first, the epidemic will reduce the risk preference of market participants; second, the interest rate gap between China and the United States is expected to narrow. In the face of the impact of the epidemic, the Central Bank of China is still expected to continue to take the operation of reducing standards and interest rates to increase the intensity of counter cyclical regulation, while the Federal Reserve is relatively cautious about future interest rate cuts. China Merchants Securities believes that investors should be rational about the short-term fluctuation of RMB exchange rate. There are many factors affecting the exchange rate of RMB, and the current epidemic is likely to be a short-term impact. Referring to the SARS epidemic experience, the short-term impact of the epidemic will not have a fundamental impact on Chinas economy or the long-term trend of RMB exchange rate. Source: First Financial Editor: Wang Xiaowu NF

Overnight in New York, the dollar index, which measures the dollar against six major currencies, rose 0.34% to close at 98.2956 at the end of the day.

Ping An Securities Analysis said that in the short term, the epidemic mainly affects the RMB exchange rate through the following two channels: first, the epidemic will reduce the risk preference of market participants; second, the interest rate gap between China and the United States is expected to narrow. In the face of the impact of the epidemic, the Central Bank of China is still expected to continue to take the operation of reducing standards and interest rates to increase the intensity of counter cyclical regulation, while the Federal Reserve is relatively cautious about future interest rate cuts.

China Merchants Securities believes that investors should be rational about the short-term fluctuation of RMB exchange rate. There are many factors affecting the exchange rate of RMB, and the current epidemic is likely to be a short-term impact. Referring to the SARS epidemic experience, the short-term impact of the epidemic will not have a fundamental impact on Chinas economy or the long-term trend of RMB exchange rate.