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RMB Exchange Rate Has Risen 3.52% This Year
Feb 02, 2018

RMB exchange rate has risen 3.52% this year, the new policy measures to promote internationalization

It is learned from the Foreign Exchange Trading Center that as of February 1, the central parity rate of RMB against the U.S. dollar stood at 6.3045, a sharp rise of 294 basis points over the previous trading day. Since 2018 to yesterday, the accumulated exchange rate of RMB against the U.S. dollar has risen 3.52%, showing a gradual upward trend, up from about 7% for the whole year of last year.

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In addition, the renminbi has risen across the board against non-dollar currencies in a basket of currencies. Specifically, the central parity rates of RMB against the euro, Japanese yen and British pound were reported at 7.8218, 5.7667 and 8.9445 respectively, up 335 basis points, 549 basis points and 155 basis points respectively.

Judging from the capital flow, the pressure of capital outflow will still exist in 2018, and the relevant policy adjustment of cross-border capital flows can become an adjustment factor for the strength of the RMB exchange rate.

From a year-on-year perspective, the exchange rate of RMB against the U.S. dollar will show a two-way fluctuation.