October RMB Real effective exchange rate fell 1.24%
Source: Internet
Author: User
KeywordsChain RMB exchange rate
In October, the real effective exchange rate for the renminbi was 118.2, down 1.24% from 119.69 in September, according to the BIS 16th. At the same time, the RMB nominal effective exchange rate in October was 111.8, and 113.81 in September fell 1.77%, the lowest nominal effective exchange rate in the renminbi since December 2009. Industry insiders said the renminbi had risen against the dollar in October, but both the real effective exchange rate and the nominal effective exchange rate fell in October, reflecting the fact that the dollar had fallen sharply against other basket of currencies. According to the BIS, the real effective exchange rate for October was 86.65, with a nominal effective exchange rate of 88.84, which was significantly lower by 3.05% and 2.86% from the September month-on-month.
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