The Central Parity Rate Of RMB Against USD Was 7.0899, Increased By 1008 Basis Points

BEIJING, Nov. 14 The People's Bank of China authorized China Foreign Exchange Trading Center to announce that on November 14, the central parity rate of the RMB against the U.S. dollar in the inter-bank foreign exchange market was 7.0899, up 1008 basis points.

As for the future trend, insiders generally believe that in the future, the general direction of the gradual stabilization and recovery of the RMB exchange rate will remain unchanged.

Zhou Maohua said that at present, the domestic economy is recovering steadily, the overall monetary policy continues to maintain a sound tone, cross-border capital flows in an orderly manner, the international balance of payments is basically balanced, and the flexibility and elasticity of the RMB exchange rate are significantly enhanced.

Industrial Research believes that the process of RMB exchange rate repair of early overvaluation has entered the second half, and the rate of repair of overvaluation has slowed down compared with the previous six months. With the changes in global risk appetite, dollar index (106.9617, 0.5583, 0.52%), the trend of the Federal Reserve, and the trend of domestic epidemics, the RMB exchange rate is expected to rebound periodically.

In the long run, the RMB exchange rate will remain basically stable at a reasonable and balanced level. "In the medium and long term, China's fiscal and monetary policy space is still sufficient, the economy is resilient, and the RMB exchange rate remains basically stable at a reasonable and balanced level, which has a solid foundation." He Chao, head of macro research of Xiangcai Securities, said.

The foreign trade industry is closely related to the RMB exchange rate, and we always pay attention to the US dollar exchange rate. With regard to the recent fluctuation of the US dollar exchange rate, our company will timely contact customers, do a good job of receiving and withdrawing the payment for folding outdoor storage box, double hammock and foldable stool portable, and strive to make timely delivery of every order to ensure the interests of each customer.