The central parity of the RMB is lowered by 492 points, the largest decrease in a year and a half | RMB | Epoch Times

[Epoch Times 2012 12 juillet] (Liu Yi, Epoch Times reporter) The renminbi is down 492 points against the dollar, the biggest drop in a year and a half. Because the average price is an indication of the CCP's official attitude towards the US dollar and that the US is announcing that it will impose duties on Chinese imports of a worth $ 200 billion, the sharp drop in the average price is causing concern.

The central parity of the RMB against the US dollar was 6.6726 on the 12th and the median price on the previous trading day was 6.6234. On the 12th, the CNY renminbi opened 326 points lower at 6,700, closing at 6.6674 the previous trading day, and closing at 6.6750 a night. According to Wall Street news, at 1:30 pm Beijing time on the 12th, the offshore RMB against the US dollar yielded 6.7153, a decrease of 0.12%, again approaching the mark of 6.72.

The RMB's depreciation industry estimates that the US government announced Oct. 10 that it would impose a 10% tariff on 200 billion US dollars of Chinese goods.

On the evening of the 10th, the Trump government announced a list of recommended products for the US $ 200 billion tariff on Chinese exports to the United States, according to which public comment will be completed on August 30 .

After the news announcement, the continental stock market and the forex market refused.

Offshore Renminbi (CNH) against the US dollar at 6: 234 on the 11th, Beijing time, 6.7234 yuan, compared with 727 points in late New York on Tuesday, almost decreased all gains precedents.

The industry fundamentally believes that 6.700 is the CCP's view that the renminbi is against the US dollar, but some people in the industry think it's a matter of time before that the renminbi does not break against the US dollar.

Deming, a fund manager of the Health Asset Management Corporation in Shanghai, believes that China currently needs monetary easing measures, but this will put the exchange rate under pressure and it is difficult to reach both. He said that as the market continues to stabilize, investors will remain cautious in the near term.

Guan Tao, senior researcher at the China Forty Forum, believes that the recent rapid decline in the RMB exchange rate is due to market forces and does not represent the official policy direction of the exchange rate.

Shen Wanhongyuan Qiu Difan believes that the future exchange rate should focus on systemic risks, the restriction of the independence of national policies, the internationalization of the RMB and the process of commodification. Or artificially draw a line. #

Publisher: Gao Jing