129773184433281250_98 <a href="http://www.levelingpower.com/tera">tera power leveling</a>Hexun homepage established mobile phone version of the stock/fund micro-blogging news blog dynamic observation on the foreign exchange market currency US dollar currency, instant expert analysis on relevant industry topics scroll column bodyDisk on the HD solutions financial calendar financial products Exchange Center Exchange Tools school online Salon experience exchange finance foreign exchange regulations on investment hexun hexun.com Wikipedia Forex Forum Forex blog Forex > body font size print RSS March 201201:23 source: business news author: Mary North Mary North recently, middle of the Yuan against the dollar price movement has expanded. Combined with latest government report noted that China will improve the RMB exchange rate mechanism, bi-directional floating elastic currency is, by keeping the Yuan exchange rate at a reasonable and balanced levelBasic stability, this suggests that deeper reform of RMB exchange rate mechanism will be launched. On July 21, 2005 reform of RMB exchange rate mechanism, implementation based on market supply and demand, regulation, the reference to a basket of currencies since a managed floating exchange rate system, rendered on Renminbi exchange rate against the dollar crawled upward trend. Only 2008 June 2010 to cycle between reform of the financial crisis, appreciation of the Renminbi exchange rate against the dollar was suspended. Renminbi appreciated by so far is super 30%.
����According to the Bank for international settlements statistics, since the end of June 2005 to the end of January 2012, RMB real effective exchange rate has increased by 29.6%, is close to equilibrium exchange rate band. 2011In February, the interbank foreign exchange market against the dollar spot trading in the Mainland had 12 consecutive days due to reach lower bound of 0.5% fell, about the trading volatility limit is difficult to adapt to international and domestic changes in market supply and demand caused by a number of factors. Determinants of Renminbi exchange rate against the dollar in two main areas: one is the Central Bank's exchange rate policyIntent, the second is the expected market movements on the exchange rate. These two factors are major changes in the near future. In the Central Bank's exchange rate policy intentions, in addition to Premier Wen Jiabao expressed during the two sessions throughout the country, Central Bank Governor Zhou xiaochuan also said the condition of RMB exchange rate gradually with a floating, fluctuations can be considered an appropriate increase in order to better onshore RMBEffective exchange rates and linked to a basket of currencies of major trading partners, reflect the market supply and demand determine the exchange rate mechanism, displays the Central Bank's policy intention already from the past few years to allow its currency to rise against the dollar sustained a small one-way into want the Yuan to the dollar within a larger bi-directional movements. At the same time, a number of factors in appreciation of the Renminbi against the dollar continued a one-wayField is also expected to be reduced. Obvious slowdown in China's growth in exports and trade surplus.
����The Chinese Government has lowered economic growth targets this year to 7.5%
swtor credits, which has taken into account the factors of slowing export growth this year. And on current onshore and offshore foreign exchange market dealers for monthly balance of trade in goods are very sensitive, often released figures for trade in goods,Respond immediately on the market was showing formation of market supply and demand for currency is to play an increasingly important role. In addition, in recent years, with China by means of positive change in economic development, reduction of surpluses and promote balance, expanding domestic demand, structure, share of the GDP from the current account surplus declined per cent in 2007 to 2011 2.8%, Less than 3% of internationally recognized standards, expected in 2012, China's current account surplus share is below 3% per cent of GDP, meaning the Renminbi against the dollar exchange rate is close to equilibrium interval, continuing possibility of one-way appreciation decline. Second, the growing balance of payments capital account. The European debt crisis, foreign direct investment inflows significantly slower��
����At the same time, countries also actively encourage enterprises and individuals to invest abroad has prompted increasing balance of payments capital account balance. Third, changes in financial factors in foreign exchange reserves and currency exchange rate fluctuations against the dollar has become increasingly important in the shares. Such as the national foreign exchange reserves $ 20.535 billion less per cent from the fourth quarter of last year, since the 1998 Asian financial crisisForeign exchange reserves since first quarter. $ 48.04 billion foreign trade surplus in that quarter; the amount of foreign capital actually used amounted to us $ 29.332 billion, in addition to RMB payment factors, a considerable part of foreign exchange reserve change cannot be explained by changes in trade and FDI, shows changes of financial factors in foreign exchange reserves and currency exchange rate fluctuations on the dollar accounted for moreShare of the more important, need exchange rates with adequate flexibility to reflect the financial fluctuations in domestic and international markets. Therefore, as China's balance of payments to restore balance, expected reduction of renminbi continued to appreciate against the dollar, further improve the RMB exchange rate formation mechanism in China, enhance the condition of two-way floating elastic RMB exchange rate against the dollar is getting more mature.Formation mechanism is the core of the Renminbi exchange rate regime in China, further increase the elasticity of RMB exchange rate and let the market play a greater role in the Renminbi exchange rate. Increase of RMB exchange rate flexibility can be manifested in two ways, is a reference to a basket of currencies adjust RMB exchange rate against the dollar, increasing flexibility and movement of the Yuan against the dollar price, kept it realEffect exchange rates are relatively stable; the second is expansion of the daily transactions of RMB exchange rate fluctuations, including its daily trading of the dollar and non-US dollar currency exchange rate fluctuations. In theory, an overvalued or undervalued currencies in the exchange rate in the process of the return to equilibrium exchange rate, the closer the equilibrium exchange rate
diablo 3 power leveling, two-way volatility is more significant. In fact, since the fourth quarter of last year,Offshore market has become more apparent in the Renminbi exchange rate against the dollar on bi-directional wave situation and their expectations, and lasted for a long time, floating range is also more flexible. Recently in the bank market against the middle price range has been enlarged. The first two months of this year, appreciation of the Yuan against the dollar reference rate 0.14%, speed-0.72% rise in the same period last yearConsiderably, and daily price changes are typically not more than 60 basis points. Since March, characteristics of the Renminbi exchange rate against the dollar has underlined the flexibility to increase. March 20 in 14 days, price changes more than 100 basis points in the middle of the day on the 5 trading days, rarely seen since the July 2005 exchange rate. Daily trading on the spot marketFixed rates have also expanded, but not more than 0.5% of volatility. Yuan against the dollar price movement expanded, can be understood as a Central Bank release increased exchange rate flexibility to market signals and to test market reaction, market expectations the Central Bank may soon extend the daily trading band on the Yuan exchange rate against the dollar to price up and down the 0.75%~1%. As the people of silverThe degree of involvement and intervention in the foreign exchange market to weaken gradually and orderly, Yuan central parity rate against the dollar in the future will probably become a trend and extend the change of rule, Exchange trends would largely depends on the relationship between supply and demand of foreign exchange markets, to better integrate the Bank's effective exchange rate of the renminbi and linked to a basket of currencies of major trading partners. (Author of BOC Hong Kong seniorEconomic researcher), this column by VISA support
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