Since the beginning of this year, the renminbi exchange rate trend has declined first and then increased. The RMB exchange rate declined at the beginning of the year and once closed at 7.1455 at the end of May, and then began to rise. So far, the exchange rate of RMB against the US dollar has appreciated by nearly 8% from the low point at the end of May. This round of renminbi exchange rate rise has attracted the attention of industry experts. Based on the opinions of experts, the thrust of this round of RMB exchange rate rise mainly comes from two aspects-on the one hand, China’s economy and China’s international trade have performed better than expected; on the other hand, the performance of other major economies’ monetary and fiscal policies has caused international financial markets. turmoil.
-China's economy took the lead in recovering from the impact of the new crown pneumonia epidemic. Imports and exports and the current account of international payments have achieved surpluses. This is the fundamental factor in the rise of the RMB exchange rate.
-The sharp decline in the U.S. dollar index is an important reason for the rise of the RMB exchange rate.
——Under the balance of payments capital and financial accounts, whether in the stock or bond markets, the continuous inflow of foreign capital has improved the supply and demand relationship in the domestic foreign exchange market, and objectively supported the RMB exchange rate.
