On The 18 Day, The Central Parity Of RMB Dropped By 6.5310 Points By 9 Basis Points.

From China

In the inter-bank foreign exchange market, the central parity of RMB against other currencies is 1 yuan to RMB 9.3906 yuan, 100 yen to RMB 7.8597 yuan, 1 Hong Kong dollars to RMB 0.83994 yuan, 1 pounds to RMB 10.6494 yuan, 1 yuan to 0.46315 ringgit, RMB 1 yuan to 1 Russian ruble.

In April 18th, the central parity of RMB against the US dollar was cut by 9 basis points, as the Central Bank of China announced last weekend that the deposit reserve should be raised by 50 basis points. This indicates that the central bank is more inclined to use quantitative measures to curb inflation rather than RMB appreciation, which in a certain extent has cooled the expectation of RMB appreciation.

Meanwhile, the US dollar index on the international exchange market rebounded slightly on Friday, which led to a slight fall in the RMB against the US dollar.

In the spot market, the US dollar rose against the renminbi.

The recent trend of the renminbi is mainly related to the performance of the US dollar in the international market.