The RMB rose 3.71percent in the third quarter, the largest quarterly increase in 12 years

category:Finance
 The RMB rose 3.71percent in the third quarter, the largest quarterly increase in 12 years


A number of foreign exchange experts from HSBC pointed out in a report: as the markets confidence that RMB appreciation is no longer associated with one-way capital flow, herd mentality and speculation, we believe that the peoples Bank of China will continue to promote exchange rate reform, including RMB internationalization. The report predicts that the RMB exchange rate will reach 6.70 yuan to the US dollar at the end of this year and rise to 6.60 yuan to the US dollar by the end of 2021. The report pointed out that China, as the worlds second largest economy, is still on the road of steady recovery under the influence of the global new crown crisis. Chinas manufacturing sector showed strong growth in September. The countrys huge industrial sector has returned to levels before most of its economic activity was paralyzed by the outbreak. In addition, the weakening dollar and continued capital inflows also support the appreciation of the RMB. Source: surging news editor: Zhang Mei_ NF2100

A number of foreign exchange experts from HSBC pointed out in a report: as the markets confidence that RMB appreciation is no longer associated with one-way capital flow, herd mentality and speculation, we believe that the peoples Bank of China will continue to promote exchange rate reform, including RMB internationalization. The report predicts that the RMB exchange rate will reach 6.70 yuan to the US dollar at the end of this year and rise to 6.60 yuan to the US dollar by the end of 2021.

The report pointed out that China, as the worlds second largest economy, is still on the road of steady recovery under the influence of the global new crown crisis. Chinas manufacturing sector showed strong growth in September. The countrys huge industrial sector has returned to levels before most of its economic activity was paralyzed by the outbreak. In addition, the weakening dollar and continued capital inflows also support the appreciation of the RMB.