After the central bank to join the RMB exchange rate war to defend the SDR fund exposure platform: the letter Phi behind false propaganda, the performance of long-term lower than similar products, how to buy a fund pit? Click [I want to complain], Sina help you expose them! After joining the SDR, how to win the central bank exchange rate war? Reporter Chen Zhi Intern He Jingjing Shanghai reported as of September 28th 19, the domestic market of the U.S. dollar against the RMB spot exchange rate (CNY)) around 6.6720 U.S. dollar against the RMB offshore market exchange rate (CNH) is located in the vicinity of 6.6861. "The central bank Chinese officially joined the SDR in October on the eve of the yuan, again to curb the international speculative capital in a new round of RMB short wave." A Hongkong bank foreign exchange traders pointed out that at the beginning of September, some international hedge funds originally intended to take advantage of the September dollar rate hike is expected to heat up the occasion, the RMB exchange rate against the U.S. dollar 6.70 breakdown of psychological defense, lead to greater selling tide of rmb. But at the beginning of September, Hongkong RMB overnight rate rose to the highest value since January 23.68%, market analysts believe that the move may be related to the active intervention of the central bank. International speculative capital is difficult to bear the sudden short yuan high financing costs, had to quit. "This is just one step in a series of central bank boxing." A state-owned bank foreign exchange traders believe that the movement of the August foreign exchange deficit fell to 70%, the relaxation of the RMB QFII investment quota (RQFII) approval process, the central bank is to join the SDR after the RMB liquidity changes to strengthen supervision. The current financial markets generally believe that in October 1st the RMB to join the SDR, China’s central bank to maintain the smooth fluctuations of the RMB exchange rate will slow down, then the RMB will face a new round of devaluation pressure. China’s central bank would like to re join the SDR after the RMB, can show more two-way fluctuations in the trend to attract more international investment institutions will be included in the reserve currency." Barclays Capital analyst Michael Gapen pointed out. In the view of a number of economists, due to the Fed rate hike in December is expected to gradually warming, even if the RMB to join the SDR, may not be able to change the RMB bearish expectations. China central bank to reverse the market expectations, must be two pronged: in the short term, to set a clear range of fluctuation of the RMB exchange rate fluctuations, once the exchange rate hit the bottom of the range that the intervention, let the market see the central bank stable RMB exchange rate in the long run, China; the economy through monetary and fiscal and structural reform measures to promote economic growth. Accession to the SDR on the eve of the exchange rate war in September 19th, Hongkong’s RMB overnight lending rate rose to its highest value since January 23.68%. Many people in the industry believe that this is likely to be the Chinese central bank ahead of the offshore RMB market liquidity, raise the cost of offshore RMB financing, in order to stabilize the RMB exchange rate. The Bank of Hongkong foreign exchange traders analysis, this is indeed a good effect, hedge funds usually borrow a lot of offshore RMB theory相关的主题文章: