According to the people's Bank of China authorized the China foreign exchange trading center announced on May 5, 2011 interbank foreign exchange market price is in the middle of RMB exchange rate: 1 USD to RMB 6.5025 Yuan, 1 euro for 9.6413 Yuan, 100 yen for 8.0681 Yuan, 1 Hong Kong dollar of 0.83671 Yuan, 1 pound 10.7213 Yuan, 1 Yuan on 0.45960 ringgit, RMB $ 1 to 4.2091 Russia rubles.
On April 29, the Renminbi exchange rate against the dollar price of us $ 1 to 6.499 Yuan, compared with the previous trading day (6.5051) increased by 61 basis points, breaking the important mark of 6.5. The first time since July 2005 reform break the 6.5 mark. Although “ 51 ” designating the two trading days, micro-middle of the dollar against the RMB exchange rate price rise, also seems to be difficult to change aggressive trend of RMB's rise against the dollar.
Depreciation of the dollar continue, Asian countries are pooling of funds, strengthening the regional investment, tried to disperse the unprecedented foreign exchange reserves.
10 Southeast Asian countries plus China, Japan, and Korea, and recently in Viet Nam on financial officials ' meeting to be held in Hanoi, plans to discuss a infrastructure fund, increase investment in roads, ports and public utilities. Last month, President of the Bank of the Philippines pointed out that decision-making officials have agreed to find reserves “ new pipelines ”, called for expanded use of the Renminbi.
&Amp;nbsp; economic fiscal and financial Director of the Institute of development and Reform Commission Zhang Anyuan pointing out that all reluctant to mention China holds large amounts of foreign currency reserve assets of the carrying amount of the profit and loss, China's foreign exchange reserves in foreign investment income, annual yields of about 3%. But if considering exchange rate losses, banks hold foreign exchange assets loss is extremely alarming to the people. Foreign exchange reserves increment every year with the same currency exchange costs calculation of average exchange rate against the dollar, then after appreciation to a different exchange rate calculation of exchange rate costs. A rough estimate, to the end of 2010, increasing foreign exchange reserves have occurred every year since 2003 Exchange rate losses of us $ 271.1 billion. If the dollar exchange rate rose to 6, since 2003 increased exchange rate loss reserves climbed to us $ 578.6 billion. The losses cannot be through the exchange of foreign investment income made up, in addition to the Central Bank, will not have any commercial institutions will lose money on the sale.
