Business & Investment

China’s yuan jumps to four-month high as real estate concerns decline

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Shanghai — Chinese RMB

Four months high against the dollar on Tuesday, market support

Expectations for stress in the domestic real estate sector

Not only US-China relations, but also tensions have been eased.

RMB rise in onshore and offshore markets

Following China’s weaker economic growth data than expected

Monday, but after China’s central bank settled the market at the very end

Week to say the spillover effect from the Chinese Evergrande Group

The debt problem was controllable.


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Several other real estate companies paid this with a coupon

Weeks help ease some confusion about embarrassment and embarrassment

The sector you are indebted to.

Qi Gao, Asia FX Strategist at Scotiabank, said investors

Draw confidence from the peace of mind from the officials

People’s Bank of China.

He said authorities could manage to prevent the evergrande

Because it is a threat to the financial system.

Stronger Yuan promoted wider rallies

A risk-sensitive currency in the wider currency market, he


Currency traders said the yuan was backed by heavy things

Corporate customer dollar conversion

Benefits of wide-ranging dollar depreciation after the latter was knocked

Overnight returned by weak US factory data.


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“For the time being, there is no expectation of a depreciation of the yuan.

Tommy Xie, Head of Greater China Research at OCBC, said:


“After all, fundamentals are still very powerful.

High trade surplus and capital inflow.And the company

A pile of dollars awaiting resolution. “

Prior to market opening, PBOC set midpoint rate

6.4307 per dollar, 7 pips weaker than before

Fixed 6.43.

In the spot market, the onshore RMB opened at 6.4250

It jumped to a high of 6.4105 per dollar. This is the strongest level.

189 pips stronger than last second half session since June 16th


The Broad Dollar Index fell to 93.705

Offshore RMB

It is trading at about 6.4035 per dollar, the June high.


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“The strength of the yuan these days has been amazing for some markets.

Participants, including us,

China’s growth. “

Mizuho Bank in Hong Kong.

However, he said GDP soft-gloss data was released.

Monday expected, priced, annual growth

8% remains achievable.

“With a review of the Phase 1 (Trade) Agreement

In the United States, the PBOC may intend to keep the yuan nearly stable.

In the short term.After all, the dollar retrospective and a wide range of Asians

The currency rally supports the yuan. “

Some market analysts say the yuan is rising

Declining expectations for lowering bank reserve requirements

Ratio (RRR), despite weak third-quarter growth


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The world’s second-largest economy suffered from power shortages and supply

Bottleneck and sporadic occurrence of COVID-19.

And they said the authorities could be uncomfortable

The spot price is

It is approaching 6.4 per dollar, which is psychologically important.

“There were no barriers from state-owned banks on Tuesday.

“Morning,” said a Chinese bank trader. “But everyone started

Nervous that big banks could intervene soon

Adjust the gain. “

Former market at 0400 GMT: Greenwich Mean Time:

Onshore spot:

Item current previous changes

PBOC midpoint 6.43076.43 -0.01%

Spot RMB 6.41076.4294 0.29%

Divergence from -0.31%

Midpoint *

Spot change YTD 1.83%

Spot change since 2005 29.10%



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Key index:

Item current previous changes

Thomson 100.31 100.19 0.1

Reuters / HKEX

CNH index

Dollar Index 93.70593.936 -0.2

* Dollar / RMB exchange rate divergence.Negative number

It shows that the yuan is trading stronger than the midpoint.

People’s Bank of China (PBOC) exchange rate

Increases or decreases by 2% from the official intermediate rate set for each


Offshore CNH market

Equipment current difference

From land

Offshore spot source 6.40720.05%


Offshore 6.5924-2.45%




* Premium offshore spot onshore

** The figure reflects the difference from the PBOC official midpoint.

This is because non-deliverable forwards are settled at the midpoint.


(Report by Shanghai News Room

Additional Report by Tom Westbrook of Singapore

Edited by Vidya Ranganathan and Jacqueline Wong)



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China’s yuan jumps to four-month high as real estate concerns decline China’s yuan jumps to four-month high as real estate concerns decline

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