The RMB Exchange Rate Fell To The Main Cause Of The Sharp Increase In Foreign Exchange Holdings In May.

< p > because of the economic downturn plus the "a href=" //www.sjfzxm.com "RMB exchange rate < /a >, the increment of foreign exchange holdings decreased again in May this year.

Yesterday, the data released by the central bank showed that China's foreign exchange accounted for 29 trillion and 540 billion 778 million yuan in May, an increase of 38 billion 665 million yuan, an increase of 66.93% over April.

Since 2014, the increment of foreign exchange holdings has been decreasing month by month.

Foreign exchange accounted for 437 billion 366 million yuan, 128 billion 246 million yuan, 189 billion 297 million yuan and 116 billion 921 million yuan in the first 4 months of 2014.

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< p style= "text-align: center" > img alt= "" align= "center" border= "0" src= "/uploadimages/201406/17/20140617102901_sj.JPG" / < < > >

The decline of the RMB P exchange rate is regarded by many people as an important reason for the sharp decline of the a href= "//www.sjfzxm.com/news/index_cj.asp" > foreign exchange < /a >.

According to the analysis of insiders, the spot exchange rate of RMB against the US dollar continued to fall in May. With the normalization of exchange rate adjustment, the market's expectation of RMB exchange rate trend is also obviously differentiated, which provides a very critical foundation for the central bank to reduce normal intervention.

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< p > as one of the sources of money in China's money market, the decline in foreign exchange and the downside of the economy seem to be closely related to the reduction of quasi money.

After all, one of the important reasons that the central bank raised the deposit rate is to cope with high foreign exchange reserves.

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< p > however, Lian Ping, chief economist of Bank of communications, said that the trend of sharp increase in foreign exchange holdings in May will not necessarily continue.

"If the economy stabilizes in the second half of the year, foreign exchange will also rise. It seems that it is not necessary to drop the quota."

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P > in his view, a href= "//www.sjfzxm.com/news/index_c.asp" > /a > /a > exit QE may be slower than the previous level, and China's economy is stable under "micro stimulus", the trade surplus and foreign direct investment are also expected to stabilize. The foreign exchange account is expected to maintain a stable overall growth, and the new foreign exchange accounts for the whole year may be around 2 trillion and 500 billion yuan.

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