Behind the 5 year low foreign exchange reserves brush what mystery the devaluation of the RMB exchan-yuanmu

Behind the 5 year low foreign exchange reserves brush what mystery the devaluation of the RMB exchange rate pressures increase foreign exchange reserves to refresh the lowest level in 5 years, hidden behind what is the secret? Source: Qin Xiaoqin, Hongkong news agency Roundup Author: China’s foreign exchange reserves fell. Central bank data show that China’s foreign exchange reserves at the end of 9 reported $3 trillion and 166 billion 380 million, a record low since May 2011, for the 3 consecutive month of decline. Analysts believe that the small real estate cycle will bring further pressure on the RMB exchange rate devaluation. Foreign exchange reserves refresh low central bank 5 years of data show that in September China’s official foreign exchange reserves of $3 trillion and 166 billion 382 million, $18 billion 785 million less than last month, August decreased $15 billion 890 million, $diameter for third consecutive months of decline. SDR caliber August official foreign exchange reserves of 2 trillion and 268 billion 485 million SDR, compared with last month to reduce the SDR of 15 billion 865 million, in July to reduce the number of SDR, SDR caliber fell for the two consecutive month in 12 billion 981 million. In September, the official foreign exchange reserves of $3 trillion and 166 billion 382 million in absolute value also continued to refresh the lowest level in five years, with the official level of foreign exchange reserves in May 2011. September foreign exchange reserves fell for 3 consecutive months, Peng Bo believes that in the market speculation that China’s central bank may sell dollars to support the RMB environment, China’s foreign reserves in September fell again exceeded expectations. Nomura China chief economist Zhao Yang said the decline Chinese mainly due to foreign exchange reserves to expand the central bank to increase the exchange rate stability operation in September, through intervention in the foreign exchange market to sell dollars to stabilize the RMB exchange rate, thereby sacrificing a part of foreign exchange reserves. Kay cast macro report said, according to their estimates, China’s central bank in September to sell about $27 billion to support the RMB exchange rate. For the decline in foreign exchange reserves, the Hang Seng Bank senior economist Yao Shaohua pointed out that in September the reason why the store fell more than expected, there are three main reasons. First, the G20 summit held in Hangzhou in September, and in October 1st officially joined the RMB SDR, the people’s Bank of China may use some of the foreign reserves to stabilize the RMB exchange rate. Secondly, the RMB exchange rate in September, a slight depreciation, or lead to some capital outflows; three mainland enterprises to accelerate the pace of going out, some of the capital to foreign exchange reserves, but also led to a decline in foreign exchange reserves. Foreign reserves to regain the momentum down? It is worth mentioning that, in October 1st formally incorporated into the RMB IMF SDR basket of currencies, marking a milestone in the internationalization of RMB step. The new IMF China by Vice President Zhang Tao said that the reform of the RMB into the basket to help China financial policy, will support in monetary policy, foreign exchange market and the financial system continues to reform Chinese, help Chinese to better integrate into the international financial market in the family. Huatai Securities Li Chao believes that China’s current foreign exchange management system is not due to substantial changes in the basket, it should not exaggerate the impact of the basket. From the official foreign exchange reserves data, in September to reduce the reserves of $18 billion 785 million, but considering the impact of interest income and valuation相关的主题文章: