CICC foreign exchange outflow pressure control sorpack

CICC: foreign exchange outflow pressure controlled Sina App: Live on-line blogger to tutor you say stocks contest 60 million Securities Times reporter Zhao Chunyan yesterday, CICC released August China reserves data review research report. Research reports that, although the outflow of foreign exchange is still ongoing, but the situation is basically controllable, and is expected to generally stable RMB exchange rate in the short term, a slight decline in foreign exchange reserves. It is reported that in August China’s foreign exchange reserves fell to a new low since January 2012. In dollar terms, in July after a slight decline of $4 billion 100 million in August, foreign exchange fell $15 billion 900 million to $3 trillion and 190 billion; SDR value, foreign reserves from 2 trillion and 300 billion in July to $2 trillion and 280 billion in August. Meanwhile, China’s gold reserves continued to increase in August 160 thousand ounces (ie, 5 tons, or about $210 million) to 58 million 950 thousand ounces (ie, 1833.5 tons), while the value of gold reserves fell to $77 billion 175 million. CICC Research Report commented that the dollar dragged down the valuation of non dollar assets. Yellen Jackson Hole after the speech, the dollar index rose sharply to 8, recorded a 0.5% increase. On the contrary, the depreciation of the yen in August 1.3%, 0.7% pound continues to weaken, the euro edged down 0.1%. According to our estimates of the composition of China’s foreign currency reserves, exchange rate movements in August caused a negative valuation of about $4 billion 600 million." "Despite the decline in foreign reserves, the size of foreign exchange outflows in August should be controlled." CICC mentioned in the research report also mentioned that in August the RMB is facing some downward pressure, especially in late August after the dollar index rose. The eve of the G20 summit, the central bank may also strengthen the foreign exchange intervention to stabilize the exchange rate. Taking these factors into account, excluding the valuation effect, compared with the net outflow of approximately $7 billion in July, compared with about $11 billion 300 million in net foreign exchange outflows in August was not significantly deteriorated. CICC expects the RMB exchange rate generally stable in the short term, a slight decline in foreign exchange reserves. The SDR basket will take effect on October, in order to ensure a smooth transition of the basket, coupled with G20’s commitment to avoid competitive devaluation, China should not let the exchange rate fluctuations. The so-called China’s new basket in the SDR will be allowed to abandon the devaluation of the renminbi is also a misreading." CICC believes that as the third largest shareholder of IMF and the new SDR currency issuer, China is necessary to maintain a stable and transparent exchange rate policy to enhance policy credibility. And exchange rate instability is an important source of policy uncertainty, is not conducive to domestic investment and consumption, or the Chinese into the uncertainty trap". In this context, both in terms of economic or political perspective, the second half of the actual downstream space should be limited." Gold company said. In addition, CICC also believes that the central bank will maintain stable domestic liquidity. The research report said that in the data released on that day, the Central Bank of the 15 financial institutions to carry out 6 months and 1 year MLF a total of 275 billion yuan, the interest rate unchanged from the previous period. "This will delay the RRR to offset the outflow of foreign currency to domestic liquidity caused by the effect of extrusion相关的主题文章:

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