China News Agency, Beijing, July 7th (Xia Bin) China Foreign Exchange Trading Center’s 7th daily exchange rate of RMB to US dollar was 7.0310, the highest value in nearly three months, up 353 basis points from the previous trading day, offshore The spot exchange rate of the RMB against the US dollar rose above 7 in the early trading day and reached 6.9918 at its peak.
In the previous trading day (July 6), the spot and offshore RMB exchange rate against the US dollar rose successively to break through the four barriers of 7.06, 7.05, 7.04, and 7.03. Both rose by nearly 500 basis points on the 6th. After entering July, the US dollar index showed a downward trend of shocks, sliding from the 97 range to the 96 range.
The chief economist of Founder Securities believes that under the background of weakened domestic epidemic interference and stable international payments, the RMB exchange rate will remain stable in the future. On the one hand, the improvement in the balance of payments will support the stability of the RMB exchange rate. On the other hand, a weaker US dollar index will have a positive impact on the RMB exchange rate.
"At present, the attractiveness of RMB assets for foreign investment is increasing." Wang Youxin, a researcher at the Bank of China Research Institute, believes that China has sufficient strength to defend national interests and achieve currency stability, which can create a good environment and rich returns for normal economic and trade and investment activities. At the same time, the monetary policy of the People's Bank of China remains stable, which provides more possibilities for international investors to seek high returns, and insists on the expansion of the opening of the financial market, which will attract continued global capital inflows.
He predicted that the RMB exchange rate will gradually rebound from a low level. From the trend of the second half of the year, it is expected that the RMB exchange rate will gradually converge to the range of 6.9 to 7. (Finish)