Sino-Singapore Jingwei Client, December 22, according to the China Foreign Exchange Trading Center, on the 22nd, the central parity of the RMB against the US dollar rose by 120 basis points to 6.5387.

The data shows that since December, the central parity of RMB against the US dollar has fluctuated continuously between 6.53-6.60.

　　On the 21st, the onshore renminbi closed at 6.5501 against the U.S. dollar in night trading, 112 basis points lower than the previous trading day and night; the U.S. dollar index rose slightly. As of the end of the New York exchange market, the U.S. dollar index, which measures the U.S. dollar against six major currencies, rose 0.02% to 90.0400.

As of press time, the onshore renminbi was quoted at 6.5430 against the U.S. dollar, up 64 basis points in the day; the offshore renminbi was at 6.5333 against the U.S. dollar, up 19 basis points in the day.

　　WIND screenshot

　　Regarding the direction of the RMB exchange rate, CICC issued a research report on the 21st that the winter of the US dollar has not yet ended, and the US dollar is expected to have room for weakness in the short term.

In the first quarter of 2021, in the context of the widening and moderately narrowing of the difference in inflation expectations between the United States and Europe, the declining safety premium and the low volatility of the maturity premium, the U.S. dollar is expected to further depreciate by about 3%, but the rate of depreciation will slow down. .

　　Hue, an associate professor at the Guanghua School of Management of Peking University, pointed out on the 19th that the yield of China's national debt is higher than that of the United States, which has caused a large amount of capital inflow and the exchange rate of RMB has been rising.

At the same time, he believes that the RMB exchange rate may have room for further appreciation. It is expected that by the end of the first quarter of 2021, there will be a wave of appreciation, and the RMB exchange rate against the US dollar may rise to 6.2-6.3.

　　Wang Chunying, deputy director and spokesperson of the State Administration of Foreign Exchange, recently pointed out that the new crown pneumonia epidemic is still spreading globally, the world economy is significantly more unstable and uncertain, and the risks and challenges of the international financial market have increased significantly.

It is expected that in the future, China's foreign exchange market will show a basically stable pattern with two-way fluctuations.

(Zhongxin Jingwei APP)