RMB another city: the first break 8.05

In the face of the way up the yuan, the appreciation of the road pass vulnerable. Following last Friday's breakthrough 8.06 yuan, the U.S. dollar against the yuan yesterday, after a new low exchange rate, to close at $8.0458, for the first time exceeded $8.05 mark.

A fall into a reverie is, the central bank governor Zhou Xiaochuan said yesterday in Shanghai, Chinese may introduce more foreign exchange swaps. In some analysts view, the swap price is the central bank's appreciation of the magnitude of the implied.

The dollar yuan yesterday to close at 8.0458 yuan, taking into account on Friday's closing price of 8.0505 yuan, the yuan against the dollar has been the 2 consecutive record, yesterday is 8.05 yuan mark for the first time. The same day, intraday trading range of 8.0473 yuan ~8.0458 yuan.

In the face of the way up the yuan, the appreciation of the road pass vulnerable. CFP data

Traders in the foreign exchange market, it seems that the RMB has hit a new high is no longer news, but yesterday's opening price of the U.S. dollar against the central parity of the low price, but still affect their sensitive nerves. The exchange rate as the benchmark price of the RMB against the U.S. dollar, the central bank announced yesterday morning the middle price is only 8.0472 yuan, compared with Friday's closing price of more than RMB 0.0030 yuan.

Traders said they were surprised by the fact that there was no major guidance on the eve of the international market to provide an explanation for the central parity. A Beijing based local bank dealer said, the middle price so low that the central bank is to relax the exchange rate control speculation momentary fame, the central bank may have decided to accelerate the pace of appreciation.

Xinhua news agency also said yesterday that since the introduction of this year, such as inquiry trading measures, the RMB against the U.S. dollar volatility is increasing. In the middle of yesterday's price calculation, the RMB has appreciated against the U.S. dollar has reached 2.77%, a 3% appreciation of the close approximation of integer.

On the appreciation of the trend this year, Li Huiyong, a senior economist at Shenyin Wanguo Securities Research Institute, said yesterday that it expects the yuan to appreciate by around 3% this year. The Chinese Economic Research Center of Peking University professor Song Guoqing also believes that the recent statement of the central bank officials also hinted that this year there will be an appreciation of the RMB 2%~3% space. But at the beginning of this year, according to Deutsche Bank caliber, the rate will be around 4%.

Under different opinions, or the central bank to promote financial reform follow-up measures to come true. Zhou Xiaochuan yesterday in Shanghai to attend the meeting of the bank for International Settlements said that the central bank will introduce more foreign exchange swaps. Earlier, the central bank in November last year with the domestic bank conducted the first foreign exchange swap operations, to 1 U.S. dollars against the RMB exchange rate of $7.85 sold to the domestic bank of $1 in foreign exchange swaps. Some analysts believe that the central bank swap price or can be seen as the central bank for 1 years after the appreciation of the renminbi implied.

In addition, 1 U.S. dollars / yuan non deliverable forward contracts to buy / sell price yesterday's daily news of RMB 7.7030 yuan /7.7100 yuan, down from last Friday's trading time of $7.7100 /7.7200. On the spot market and other currencies, the Hong Kong dollar to 1.0365 yuan, 1.0373 yuan less than last Friday; the yen from 100 yen to 6.8400 yuan to 6.8300 yuan; the euro from 9.6450 yuan to 9.5890 yuan.