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The textile industry: tax break hopes
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| Addtime：2012.01.02 HitCount： |
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China Foreign Exchange Trade Center on Friday to follow yuan central parity against the U.S. dollar spot closing exchange rate reform in 2005 created a new high, and break the 6.30 mark, to close at 6.2940 yuan, has risen 4.7 percent this year. Overseas market was relatively stable trend of the yuan was "thriving "active appreciation of the intent of highlighting the central bank.
Shanghai, a bank dealer said foreign pressure forced the central bank intends to take the initiative to the appreciation of the dollar and the euro are relatively stable, the yuan central parity was about 150 basis points higher to open, intent is clear.
"The annual appreciation rate of bigger, better account of this case," he says.
The following is quoted today as well as the yuan central parity against the dollar mainly:
Highest Lowest closing price the previous day the central parity of the central parity of the previous day closing price
* 6.2940 * 6.2940 6.3136 6.3009 6.3157 6.3192
Note: * indicates a new high in the foreign exchange reform, the previous closing high of December 29 of 6.3192 yuan.
2008 financial crisis, the yuan basically steady against the dollar in 2009; with the central bank announced in June 2010 to restart the reform on the RMB and then pick up rally, then rose 3.6%.
Guangdong Development Bank's latest report that the expected depreciation of the yuan and dollar short supply do not last long, since the second quarter of next year there is still room for appreciation of RMB, 2012 RMB appreciation throughout the year between the range of 0-3%.
Beijing, a trader said state-owned banks, HSBC China December manufacturing purchasing managers index (PMI) continued to fall below its ups and downs, as expected, little effect on the .2012-year upward trend of the RMB against the U.S. dollar has not changed, but unilateral rapid appreciation of the situation will slow down after all compared to other countries, China's economic growth expected to remain relatively good.
Shanghai, a foreign trader has given a similar point of view, he expects next year, the yuan has appreciated against the U.S. dollar at about 2.5%.
HSBC China Manufacturing PMI in December rose to 48.7 final value, but lower than the initial value of 49.0, 50 and still at the bottom of the range contraction in the domestic and foreign influence to be weak, the market is expected to further macroeconomic policies stable and loose.
Earlier this week, the U.S. Treasury Department issued a long-delayed report on the exchange rate, it is not included in the RMB exchange rate "manipulation" of the column.'s Bank of China did not benefit from market volatility and firmly with the median price will remain high China not only shows the steady appreciation of the RMB exchange rate level recognition will help the development of China's economic transformation strategy, which is also the mouth battle China has not adopted any financial diplomacy will win the victory.
Tokyo foreign exchange market, the euro will be weak tone of the end material like roller-coaster ride this year, the trend of the euro in overseas markets fell below the key support level, it does not bode well for the coming year, market conditions next year are expected to remain dominated by the debt crisis in Europe.
The following are GMT 17:05, the offshore market in RMB:
Today, the previous day
One-year RMB NDF / USD 6.3800/40 6.4000
Hong Kong's offshore RMB against the U.S. dollar market spot 6.3410/00 6.3500
Domestic market U.S. dollar against the yuan one-year swap transaction is the latest premium 480 points, equivalent to one year after the market that the yuan will reach 6.3420 yuan against the dollar.
Bank of China June 19, 2010 announced the resumption of the reform, strengthen the RMB exchange rate flexibility, and continue to follow the published foreign exchange market exchange rate floating range of RMB exchange rate floating dynamic management and regulation, but has said there is no exchange rate fluctuations and changes in the base. |
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