1. RMB exchange rate trend against the US dollar
On the last trading day of 2011, the opening central parity rate of the RMB against the US dollar was 6.3009 yuan/USD. In May 2012, it hit the highest opening central parity rate in the year. The opening mid-price point was 6.2670 yuan/USD. On August 16, it was the lowest point of the year at 6.3495 yuan/USD. The opening mid-price on the last trading day of 2012 was 6.2855 yuan/USD, and the annual appreciation rate was 0.25%. The maximum annual appreciation was 0.54%, the maximum decline was 0.76%, and the maximum fluctuation during the year was 1.31%.
If the intraday trading price is taken into account, the lowest is 6.34 and the highest is 6.2280, and the annual appreciation rate is 1.15%.
Judging from these indicators, the exchange rate of RMB against the U.S. dollar in 2012 will be closely pegged.
The reason why it can maintain relatively narrow fluctuations is that conditions at home and abroad are relatively good.
From a domestic perspective, economic growth is not optimistic and export growth is lower than expected.
Last year’s exports only grew by 7.9%, which was only better than 2009;
The foreign exchange holdings of financial institutions only increased by 494.6 billion yuan, and the central bank’s foreign exchange holdings only increased by 428.1 billion yuan, the lowest value in recent years.
Internationally, there is little political pressure, and the United States is busy with the general election.
2. RMB against Euro Exchange Rate Trends
On the last trading day of 2011, the opening central parity rate of RMB against the euro was 8.3176 yuan/euro. The highest opening central parity rate during the year was 7.6473 on July 25. The lowest opening central parity rate during the year was 7.6473 yuan on February 29. 8.4799, the opening mid-price on the last trading day of 2012 was 8.1625, and the annual appreciation rate was 1.9%. The maximum annual appreciation was 8.77%, the maximum decline was 1.91%, and the maximum fluctuation during the year was 10.33%.
3. RMB to Japanese Yen Exchange Rate Trends
On the last trading day of 2011, the opening central parity rate of RMB against the Japanese yen was 8.1103 yuan/100 yen. The highest opening central parity rate in 2011 was 7.2634 on December 28, and the lowest opening central parity rate during the year was 2. It was 8.2846 on March 2, and the opening mid-price on the last trading day of 2012 was 7.3049, with the annual appreciation rate being 11.03%. The maximum annual appreciation was 11.66%, the maximum decline was 2.10%, and the maximum fluctuation during the year was 13.14%.
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