china jewelry factory wholesale What is the situation of the RMB exchange rate in 2015?

christian costume jewelry wholesale On January 4, 2016, the China Foreign Exchange Trading Center announced the latest data of the RMB exchange rate index series. On December 31, 2015, the CFETS RMB exchange rate index was 100.94, an appreciation of 0.94%from the end of 2014; referring to the RMB exchange rate index of the BIS currency basket and the SDR currency basket was 101.71 and 98.84, respectively, an appreciation of 1.71%and depreciation of 1.16%compared with the end of 2014, respectively. Essence The three RMB exchange rate index depreciated two liters, showing that in 2015, the RMB maintained a basic stability on the overall basket of currencies.
In throughout the year, in the first eight months, due to the strengthening of the strong dollar in the first eight months, the effective exchange rate of the RMB showed a slightly appreciation trend. Essence On August 11, the People's Bank of China improved the RMB intermediate price formation mechanism for the US dollar exchange rate, and the formation of intermediate prices was more referenced to the supply and demand relationship of the foreign exchange market. Since then, the RMB has depreciated the bilateral exchange rate of the US dollar, and the US dollar has also depreciated on other major currency exchange rates. The deviation between the intermediate price of the US dollar exchange rate and the market exchange rate has been corrected. Since November, the continuous depreciation of the bilateral exchange rate on the US dollar has further released the pressure of the RMB exchange rate depreciation. At the end of 2015, the RMB exchange rate index of the CFETS RMB and reference to the BIS currency basket was roughly returned to the level at the end of 2014.
The current RMB exchange rate on a basket of currencies continues to be basically stable. First of all, my country's economic operation is generally stable, the economy maintains high -speed growth, the economic structure is optimized, and the reform and opening up are moving towards the depth. Although the growth rate of exports fell in 2015, the share of exports accounted for the global market continued to increase. In the first 11 months, the cargo trade surplus was as high as 539.1 billion US dollars. my country does not need to grow steadily through currency competitive devaluation to stimulate exports. Secondly, from the perspective of the external environment, the Federal Reserve raised interest rates for the first time in all aspects. After a long time of fermentation, the market reflects the overall stableness, and it is also fully expected to continue to raise interest rates in the Fed in 2016. This shows that the impact of the Federal Reserve's interest rate hike has been relatively relatively good It is largely digested in advance, and the trend of the US dollar in the next stage is affected by many factors. Finally, the economic fundamentals will still support the RMB exchange rate for a long time. my country's foreign direct investment and foreign investment continue to grow, abundant foreign exchange reserves, and the financial system remain stable. The demand for overseas investors to allocate RMB assets will gradually increase. currency.
Her exertion of the decisive role of the market in the formation of exchange rate formation, enhance the two -way floating elasticity of the exchange rate, and meet the market -oriented reform direction of the exchange rate formation mechanism. The RMB exchange rate will be more conforming to the changes in market supply and demand. Reference to a basket of currencies, there are rising and derogatory, and two -way floating. However, it should be pointed out that the market forces that the RMB exchange rate conforms to is the foreign exchange supply and demand related to the real economy, rather than speculative forces that are characterized by cyclical and leverage as the main characteristics. Some speculative forces try to speculate on RMB and make profits from it. The trading behavior has nothing to do with the demand for the real economy. It does not mean that the real market supply and demand will only cause abnormal fluctuations in the RMB exchange rate and send an wrong price signal to the market. Faced with these speculative forces, the People's Bank of China has the ability to maintain the basic stability of the RMB exchange rate at a reasonable and balanced level.
In look at the RMB exchange rate formation mechanism in 2016, the RMB exchange rate formation mechanism will continue to show the characteristics of market supply and demand, referring to a basket of currencies, two -way fluctuations, and elasticity. The role.