the people's Bank of China authorized the China foreign exchange trading center announced on April 15, 2011 interbank foreign exchange market price is in the middle of RMB exchange rate: 1 USD to RMB 6.5301 Yuan, 1 euro for 9.4611 Yuan, 100 yen for 7.8079 Yuan, 1 Hong Kong dollar of 0.83985 Yuan, 1 pound 10.6806 Yuan, 1 Yuan on 0.46280 ringgit, RMB $ 1 to 4.3187 Russia rubles.
The afternoon of April 15, by the medium-term Futures Association and Beijing &ldquo organised by the Chambers of Commerce Guide, hexun.com; talk about the annual meet of stock index futures hedging investment era ” large seminar held in Beijing. Livelihood security said Teng Tai at the meeting, Vice President, Chief Economist, current stage of the China economic imbalance is also the source of the Renminbi exchange rate, now economic imbalances is the conspicuous contradictions in a price increase, the second is price rises, in order to curb the rising the two things do not, or in order to curb the rise in house prices or price, from a monetary point of view is not able to add new inflation factors.
following for livelihood securities Deputy President, and Chief economists Teng Tai speak record:
Teng Tai: current stage China economic imbalance of roots also is RMB exchange rate, now economic imbalance highlight of contradictions a is prices rose, second is prices rose, to suppression this two a things does not rose, or to suppression prices or prices of rose, from currency of angle does not to increased new of inflation factors, therefore, we see currently Central Government while in plus interest rate, while improve deposits reserves rate, also in strictly close concern added credit of changes. Is in charge of domestic factors, another factor well tube, is the continued growth of the Exchange data. Today announced of Exchange statistics data, China of reserves has over 3 trillion, than last year four quarter and increased has tens of billions of dollars, past regardless of is by trade surplus also is FDA outside on China directly investment of way, also is hot money of way, in short reserves has been in increased, we holds of exchange assets has been in increased, this block is we do can't main of, reserves increased will brings what consequences does? Each additional $ 50 billion in foreign exchange reserves, people's Bank of China must release new RMB 33 million foreign currency reserves buying. In the context of rising prices, price should not inject, do? To put it back, there are two ways, first, equal amounts of Central, Central ticket 330 billion added money back, called return of the money; second, plus reserve 0.5%, absorption around 330 billion in new money injected.
