The Trend Of RMB Appreciation Is Still Strong, Approaching The "5 Era" To The US Dollar Exchange Rate.

< p > at the beginning of the horse year, the RMB < a href= "//www.sjfzxm.com/news/index_cj.asp" > the exchange rate < /a > is also "non-stop", maintaining a strong trend of record high.

In January 17th, the spot price of the RMB against the US dollar broke through the 6.05 pass, hitting a record high, and the exchange rate gradually approached the 6 mark.

A month ago, the RMB exchange rate was still near 6.07, and the rapid increase was a cause for concern.

< /p >

< p > strong > RMB appreciation will remain strong this year, < /strong > /p >

Since P, the appreciation rate of RMB has accelerated significantly since 2013.

The central parity of RMB against the US dollar and the spot total appreciation rose by 3%, 2.83%, respectively, significantly higher than in 2012.

Looking ahead, will the RMB exchange rate continue to rise in the 2014 full year? < /p >

< p > analysis shows that the possibility of RMB exchange rate rising this year is still greater.

The reason is, on the one hand, the acceleration of RMB internationalization is still strengthening the expectation of RMB appreciation; on the other hand, strong capital inflow will continue.

China's domestic deepening reform rules will be introduced gradually this year. Reform dividends and domestic and foreign spreads will still attract foreign capital inflows, and China's trade environment this year is obviously better than the last two years. It will also encourage large amounts of capital to flow into the domestic market, which will further boost the appreciation of the people's currency.

< /p >

< p > for its reasons, there are still some factors restricting the appreciation trend of < a href= "//www.sjfzxm.com/news/index_cj.asp" > RMB > /a >. With the acceleration of the process of withdrawing from QE and the anticipation of the increase in US dollar interest rate, the US dollar liquidity will gradually return to the US, and the US dollar's rising power will be strengthened, and the exchange rate of the RMB against the US dollar will certainly be adjusted accordingly.

In addition, the current effective exchange rate of RMB is at the highest level in emerging markets, and there may still be downward pressure on domestic economy, all of which bring certain uncertainty to the trend of RMB exchange rate.

< /p >

< p > < strong > there are uncertain factors but it is difficult to shake up the trend < /strong > < /p >.

< p > but these factors are difficult to shake the upward trend of RMB.

In fact, in the first half of 2013, when China's economic indicators were less than expected and the trade surplus was reduced, the yuan maintained a rapid appreciation against the US dollar, and soared sharply in May with the US index. In December 18th, after the Federal Reserve's QE reduction plan was announced, the currency was adjusted slightly, and the value of the RMB hedging function was obvious.

Zhu Haibin, chief economist of J.P. Morgan, said that although the US dollar showed signs of returning to a strong position due to the reduction of < a href= "//www.sjfzxm.com/news/index_cj.asp" > QE < /a >, the trend of steady appreciation of the RMB was hard to change.

< /p >