The central parity of the RMB against the US dollar was reported at 6.3735 yesterday, which was 105 basis points higher than the previous trading day, and hit a new high since the exchange rate reform. Recently, the European banking industry was dragged down by the debt crisis. The Fed’s stimulus measures failed to boost the market, and international funds tend to hedge, and the renminbi is under pressure. Ding Zhijie, dean of the School of Finance of the University of International Business and Economics, said that the sharp rebound in China’s foreign exchange account in August showed that a large amount of funds had inflows, so the pressure on the appreciation of the renminbi was relatively high. However, he pointed out that the uncertainty of the global economic situation in the short term is too great, and the future trend of the renminbi is difficult to judge.
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