The Effective Exchange Rate Of RMB Was 119.65 In September.
International Settlement
Bank
(BIS) the latest figures show that the effective exchange rate of RMB in September was 119.65, continuing the upward trend last month, rising by 0.83%, while the nominal exchange rate decreased from 113.81 to 113.81 in March, and a decrease of 0.27%.
Analysts pointed out that the nominal effective exchange rate of RMB has declined continuously, while the trend of real effective exchange rate has continued to differ. It shows that the inflation difference between China and the United States, Europe and other western countries is widening, which is the main reason leading to the decline of the effective exchange rate.
However, the nominal effective exchange rate of the renminbi continued to decline in September.
RMB
The performance is inconsistent.
In September, the RMB accelerated against the US dollar and hit a new high since 2005.
Since the resumption of foreign exchange reform in June to the end of 9, the yuan has appreciated 2.04% against the US dollar, while the increase in September has reached 1.44%.
In this regard, Standard Chartered Bank chief
Economics
Wang Zhihao, a scientist, said in a report that the acceleration of the appreciation of the renminbi was caused by the weakening of the US dollar and the lowering of the exchange rate of RMB against a basket of currencies.
It is estimated that at the end of 9, the daily index of RMB against a basket of trade weighted currencies fell by 2.7% compared to the basic level in mid June.
Wang Zhihao predicted that the nominal effective exchange rate of the renminbi will go up in the coming months, and the nominal effective exchange rate of the RMB will rise more significantly as the US dollar recovered from the decline in the end of 2011.
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