January RMB a month or a record for work clothes
On January 31, the exchange rate of Renminbi against the U.S. dollar rose sharply to the point where the spot exchange rate rose by as high as 2,200 basis points or 3.38% in a month, the largest monthly increase since the 1994 exchange rate merger.
January 31, the renminbi exchange rate strong pull up. On the same day, the central parity of RMB against the U.S. dollar was devalued by 27 basis points to 6.3339 yuan. However, as the U.S. dollar continued to weaken, the spot exchange rate of the Renminbi continued its recent gains.
From the disk point of view, yesterday, the renminbi exchange rate against the US dollar opened higher 128 basis points at 6.3287 yuan, the morning mainly around 6.3273 yuan first-line shocks in the afternoon appeared quickly pulled up after the plate broke 6.32,6.31,6.30,6.29 four-pass mark , 16:30 closing price of 6.2920 yuan, 495 points higher than the previous day; Hong Kong market, the offshore RMB against the US dollar strengthened simultaneously, as of January 31 at 16:30 Beijing time reported 6.2981 yuan, up 307 basis points , Then continue to pull up intraday to 20,800 up to 6.2866 yuan, 422 basis points higher than the previous day.
At this point, in January this year, the onshore renminbi against the U.S. dollar alone gained as much as 2,200 points (3.38%) in a single month, the largest one-month gain since merging with the exchange rate in 1994; the offshore renminbi against the U.S. dollar surged more than 2100 in January Point, also set the largest monthly increase in history.
The main driver of this round of RMB exchange rate surge was the continuous plunge of the U.S. dollar index. January 31 Asian session, the dollar index continued to weaken, intraday low dropping to 88.8021, compared with December 18 last year has fallen more than 5% in January this year, the cumulative decline has more than 3.6%, or will be The largest monthly decline since March 2016.