US dollar changes new lows to RMB intermediate price

China Foreign Exchange Trading Center announced September 13, the day interbank foreign exchange market dollar against the renminbi exchange rate of 1 U.S. dollars on the renminbi 6.7509 yuan, down from the previous session of 116 basis points, again to refresh 2005 since the low point record. Affected by the low median price, Monday dollar to the domestic value of the renminbi and overseas non-principal delivery forward contract (NDF) both went down, which is the exchange rate to create a new low since the change. In the inquiry market, the U.S. dollar against the renminbi closed at 6.7618, compared to the last trading day down 74 basis points, the plate touched to 6.7568 of the new low since the exchange.　　As at 18:00, the overseas USD/RMB non-principal delivery forward (NDF) one-year offer is 6.6628, lower than the previous day 64 basis points. Since September 1, the dollar has plunged into the middle price of the renminbi, which has now fallen by 617 basis points. Some analysts believe that the recent strengthening of the renminbi against the dollar, and the current relative weakness of the dollar is not unrelated, but in the final analysis is based on fundamental differences in international capital allocation adjustment. On the one hand, the U.S. economic slowdown, the Fed continued to maintain a very loose monetary environment, the U.S. dollar rate hike is not expected to fall; On the other hand, macroeconomic data shows that China's domestic demand recovery is strong, and closely related to prices, there is also some upward pressure on the benchmark interest rate, funds chasing the In fact, similar performance can be seen in the currencies of other Asian countries and emerging market countries in the near future. (Qin Pk.)