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News
With dispatch exchange messages Offshore RMB exchange rate has dropped to 6.5654 for February 4, 2011, four and a half years since the lows. China on Tuesday to push the RMB depreciation of the surprise move shocked financial markets, lit the outside world for the rest of the central bank will follow the example of China to promote the concerns of the devaluation.
The fall surprised investors on Tuesday.For weeks, analysts have suggested that bet on the yuan stabilized. Many point out that the yuan will remain stable, because the Chinese government about the wording of the RMB exchange rate remains unchanged, including the use of foreign exchange reserves to provide strong support for the RMB exchange rate stable.
This let many investors believe that the yuan will remain stable for a long time, so the market positions are generally in the use of the RMB exchange rate stability.On Tuesday, traders said the market has forced some investors to remove a currency positions loss.
Over the past few years, the trend will not have too big impact on global currency, but with the use of the renminbi in international trade is becoming more common, the yuan produced holding a launch the influence of the whole body. Asia and London traders trying to deal with abnormal severe market turmoil.
From the perspective of the bet of options on the market for the renminbi, investors in renminbi in the next few weeks will be lower and volatility expectations rising.Due to hedge the risk is difficult, so the effect direction would be amplified in the market, it is also a concern of the international monetary fund.