RMB Devalued 50 Basis Points Against the Central Parity of U.S. Dollar

Yesterday, the latest data released by China Foreign Exchange Trading Center that on March 11, the central parity rate of the RMB against the U.S. dollar at 6.2769, devalued 50 basis points over the previous session.

Although the devaluation appeared, the view in last week, the RMB gained 79 points against the central parity of U.S. dollar. And it is reported last Friday of the RMB against the U.S. dollar central parity 6.2719, breaking a new high since the last two months. In fact, the pressure of RMB appreciation is persisting all the time.

Recently in the major central banks on the international intensive Yee interest period, the major central banks to maintain the previous level of interest rates and monetary policy, and the latest-than-expected trade surplus in January-February, domestic short-term liquidity surge still withstand a certain market outlook RMB appreciation pressure.

ANZ Bank Greater China, Liu Ligang, director of economic research, with the inflow of hot money in China ,the pressure of RMB appreciation also appeared.

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