RMB to Dollar exchange rate of 3rd consecutive high

-Our correspondent Ren Xiao eds. 14th, China Foreign Exchange trading Center announced the renminbi against the U.S. dollar exchange rate of 131 basis points, up to 6.7378, the interbank market close to 6.7463, both to create a new high since 2005.　　At this point, the renminbi against the U.S. dollar exchange rate has been three consecutive trading days since the new record. Since entering September, the RMB appreciation trend is obvious. 10th, the renminbi against the U.S. dollar exchange rate of 192 basis points in a day appreciation, up to 6.7625, foreign exchange has been new highs. 13th rose 116 basis points, up to 6.7509.　　Analysts believe China's recent economic data show better than expected, while the dollar index fell, both pushing the renminbi to rise against the dollar. Traders said that from the current market prices, the market is still cautious about the appreciation of the renminbi. The forward market also shows a modest appreciation for the renminbi.　　As of 14th 17:36, overseas non-principal delivery forward (NDF) foreign exchange market one-year USD/CNY in 6.6550 yuan, the domestic market for the renminbi one-year adjustment of the median price of water for 525 basis points, equivalent to the market that a year after the renminbi against the U.S. dollar will reach 6.6938 yuan.　　Analysts say China's economic fundamentals do not yet support a sharp appreciation of the renminbi against the dollar.　　The ability of foreign trade enterprises to appreciate RMB is limited, and once the limit is exceeded, the market influence will push the RMB exchange rate back to normal range. June 19 The central bank announced a further reform of the RMB exchange rate formation mechanism, the renminbi has a small appreciation, two-way floating characteristics obvious, exchange rate flexibility significantly enhanced. On September 14, the renminbi against the U.S. dollar exchange rate, the June 19 reiterated that since the exchange, the renminbi rose to 1.3% against the United States dollar.　　and the cumulative revaluation since the exchange rate exceeded 20%. Liu Yuhui, director of the China Economic Evaluation Center at the Institute of Finance of the Chinese Academy of Social Sciences, predicted that a modest appreciation of the renminbi based on market demand would improve the efficiency of resource allocation and the external environment. The recent broad swings in the renminbi against the dollar are expected to become the norm. In the long run, China's macro-economic trend will still be the main driving force affecting the RMB exchange rate.