Analysis of Recent RMB Exchange Rate Movements

Abstract

: The RMB exchange rate has been subject to two pressures - economic downturn and the powerful US dollar - causing it to fluctuate around 7, and even breach the 7 mark at times. This shift has had a considerable impact on both personal and societal life, and the financial market may be subject to further alterations in the days ahead. As a result of the fluctuations in the international financial market, the RMB exchange rate has generally exhibited two-way fluctuations and a slight recovery. The state strengthens the supervision of the exchange rate market, promotes the quality growth of the economy, enhances the convenience of foreign trade, realizes the high-quality development of the national production and life, and pushes the economy to realize the qualitative and effective enhancement and quantitative and reasonable growth.