RMB intermediate price Innovation high cross-border capital large outflow pressure relief

Securities Times Network (www.stcn.com) September 23 September 23, the Chinese currency market between the renminbi to the U.S. dollar in the middle of the quotation 6.1475 yuan, is a trading day (6.1557) up 82 basis points, compared to the previous trading day a sharp rise of 82 basis points, not only broke the September 16 of the historical highs of 6.1554, And the 6.15 mark, again to refresh the high point since the exchange. This is the third time in September. Financial profit, current savings interest rate 1000% according to NetEase Financial reports, the trend of the renminbi analysis, traders said, the recent rise in the renminbi has not caused the market price to follow up, in the long term the trend of the renminbi will ultimately be based on China's fundamental to decide, Has little to do with the US withdrawal from quantitative easing (QE). Traders also said that the enterprise nearly two months of settlement will significantly stronger, international funds to push up the offshore renminbi exchange rate, and then by Cross-border carry trade to the appreciation of pressure to the territory. As long as the renminbi does not have depreciation expectations, this upward pressure will continue to exist. State Administration of foreign exchange issued the August 2013 Bank settlement and forward settlement of the contract and the bank's foreign-related receipts and payments data show that in August, the bank settlement of 147.9 billion U.S. dollars, the sale of 139.5 billion U.S. dollars, a sales surplus of 8.3 billion U.S. dollars, compared with July sales exchange deficit of 6.9 billion U.S. dollars, the relative change of Analysts believe that at present, China's economic stability to the good trend is clear, the renminbi is stronger, market settlement will increase, the future of large-scale outflow of cross-border capital pressure greatly eased.