my country enhances exchange rate flexibility The US dollar continues to weaken
w88 casino games exchange rate breaks "6.5"will continue to rise
Our reporter Zhou Xiaoyuan Ye Xiaonan
"People's Daily Overseas Edition"2011Year 05Month 05日No. 2version
w88 casino gamesExchange rateSurges higher again.4month29日, the central parity rate of w88 casino games against the US dollar is1USD to w88 casino games6.4990yuan, compared with the previous trading day (6.5051）rising61basis points, breakthrough in one fell swoop6.5000's important gateway. for2005Year7It rose above for the first time since the monthly exchange rate reform6.50The pass. Although the central parity rate of the US dollar against the w88 casino games rose slightly in the two trading days after the May Day holiday, it seems difficult to change the sharp rise in the w88 casino games exchange rate against the US dollar.
Some analysts pointed out that the continued weakness of the US dollar index and the monetary policy orientation of using exchange rate tools to fight inflation are the reasons for the rapid breakthrough of the w88 casino games exchange rate "6.50" is the main driving force. Although the U.S. dollar index has been boosted and rebounded in the past two trading days after the U.S. government announced the death of bin Laden, it is difficult to change the current continued weakness of the U.S. dollar. In the short term, this may push the exchange rates of non-U.S. currencies, including the w88 casino games, to continue to strengthen.
Internal and external pressures lead to continued strength
ChinaForexData released by the trading center shows that4The central parity rate of the w88 casino games against the U.S. dollar continued to break through in the month6.55、6.54、6.53、6.52、6.51、6.50Six points, the acceleration of appreciation is rare since the exchange reform. as of4At the end of the month, before the w88 casino games against the US dollar4Months have accumulated appreciation1.90%, where4The appreciation rate in a single month is as high as0.88%，4The characteristics of accelerated appreciation since last month are extremely obvious.
The reason is, Peking UniversityEconomyCollege of International Economics and w88Deputy of Yi DepartmentProfessor Sun Wei pointed out that w88 casino games appreciation is a trend, and its root cause is the depreciation of the US dollar. As the global economy recovers steadily, the safe-haven function of the U.S. dollar has weakened; while emerging market countries and the Eurozone have been raising interest rates, the Federal Reserve insists on keeping interest rates close to zero, further widening the interest rate differential between the U.S. dollar and other currencies; in addition, the U.S. government is plagued by debt problems. These factors have caused the dollar to fall.
Ding Zhijie, Dean of the w88 casino of Finance, w88 casinoAnalysis, the balance of national foreign exchange reserves has reached as high as3More than one trillion U.S. dollars, which has played an important supporting role in the rise of the w88 casino games exchange rate. At present, my country's imports are growing rapidly, and many of the imported commodities are bulk commodities such as iron ore and crude oil. Further improving the w88 casino games exchange rate formation mechanism and enhancing exchange rate flexibility can change the domestic sales price of imported commodities and help slow down imported inflation pressure.
The upward trend will not change in the short term
"The impact of a stronger w88 casino games exchange rate on China's economy is generally positive. It is conducive to controlling inflation in the short term and conducive to changing the development model in the medium and long term", TransportationBankChief Economist Lian Ping believes that the increased flexibility of the exchange rate will put certain pressure on the coastal export industry, prompting it to improve technology, innovate products, and transfer to the central and western regions; at the same time, it will guide the allocation of resources from the export sector to domestic demand sectors such as the service industry, reducing the economy's over-reliance on exports. “These are all conducive to industrial upgrading, structural optimization, and transformation of economic development methods.” According to Lian Ping’s prediction, the appreciation rate of the w88 casino games against the US dollar this year will be5%—7%。
Ding Zhijiesaid: "The second round of quantitative easing monetary policy in the United States will be launched this year6It will end as scheduled before the end of the month, and it is unlikely to launch a new round of quantitative easing policy thereafter, which will help the dollar strengthen. "He said that after the news of bin Laden's killing was announced, the U.S. dollar index rebounded rapidly, indicating that various accidental factors can also boost the rise of the U.S. dollar. However, due to China's good economic fundamentals, the w88 casino games exchange rate will generally be relatively strong in the future.
Sun Wei also believes that the RMB will continue to appreciate in the future. She also reminds the public that when investing and conducting w88 settlements in neighboring countries and regions, they should use RMB as much as possible under the conditions of complying with local laws. This is good for expanding the international influence of the RMB.
Exchange rate reform needs to be proactive, gradual and controllable
Although it is the market consensus that the RMB exchange rate against the US dollar is expected to continue to strengthen in the near future, Xie Taifeng, dean of the w88 casino of Finance at Capital University of Economics and Business, emphasized that based on the trend of the US dollar and the domestic economic situation, a breakthrough6.50After the pass, the appreciation of the w88 casino games against the US dollar still needs to return to a "moderate" pace.
Industrial BankAnalysis by Senior Economist Lu Political Commissar, from2011Looking at the whole year of 2019, a reduction in w88 surplus will become the norm, the external pressure on RMB appreciation will be eased, and the appreciation will slow down. As for the future RMB exchange rate policy, the central bank announced in3《》 published on201119707_19826
Xie Taifeng believes that judging from past data, the more the w88 casino games exchange rate appreciates, the faster the increase in foreign exchange reserves. The more foreign exchange reserves, the more speculative "hot money" will enter our country, which will aggravate the imported inflation situation. Therefore, it is necessary to control inflation and foreign exchange reserves, and continue to implement a stable exchange rate policy.
Economic commentator Ye Tan also suggested that the foreign exchange reserves in hand should be firmly used to control the appreciation of the renminbi within a certain range, and at the same time accelerate the reform of the social security system domestically, boost domestic demand, and avoid the negative impact of excessive appreciation of the renminbi on enterprises.
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http://paper.people.com.cn/rmrbhwb/html/2011-05/05/content_811492.htm
