my country’s foreign exchange market operates steadily and the RMB’s resilience 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 few trading days of the year.
From the end of last year to the beginning of this year, the RMB exchange rate has rebounded 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 spot exchange rate of RMB against the US dollar closed at 6.7712, an appreciation of 7.37% from the beginning of November last year, and it was the first time since mid-August last year that it rose above the 6.80 mark.
On the other hand, the CFETS RMB exchange rate index, the BIS currency basket RMB exchange rate index, and the SDR currency basket RMB exchange rate index rose across the board, 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 demonstrated resilience, and my country’s foreign exchange market has operated steadily, providing a good external environment for economic development.
The relevant person in charge of the central bank said recently 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 that the international financial market is firmly optimistic about my country’s economic development and full of confidence in economic fundamentals such as prices. In the medium and long term, the RMB exchange rate will maintain two-way fluctuations, but will continue to strengthen in general.