On August 9, the spot exchange rate of the onshore RMB against the US dollar stopped the rapid decline in the previous two days, and the closing price rose by 144 basis points.
On the same day, the central parity rate of the RMB against the U.S. dollar was lowered by 23 basis points, and the reduction rate narrowed sharply.
According to the analysis of institutional analysts, the RMB exchange rate stopped falling quickly and continued to show resilience, which also shows that the previous rapid decline was mainly caused by external factors.
At the same time, the recent central parity rate of the RMB exchange rate released a signal to guide the stable operation of the exchange rate, which also boosted market confidence.
Talking about the next step to stabilize the exchange rate, Chang Ran, a senior researcher at Zhixin Investment Research Institute, believes that exchange rate management tools can be introduced in due course to further improve the monitoring, early warning and tool design of capital flows;
At the same time, it is necessary to accelerate the establishment of a policy framework for managing the offshore RMB exchange rate.
