Offshore RMB exchange rate fell below 6.7

Summary of January 6, the RMB against the US dollar decline to continue to expand, but also reproduce rapid depreciation in the offshore and onshore spot exchange rate. In the spot exchange rate on the shore, the price fell below 6.56 yuan, and the offshore exchange rate fell below 6.73, both of which fell by a few hundred basis points. The exchange rate difference between the two places has expanded to 1...
On January 6, the decline in the central parity of the RMB against the US dollar continued to expand, and the onshore and offshore spot exchange rates also reappeared rapidly. In the spot exchange rate on the shore, the price fell below 6.56 yuan, and the offshore exchange rate fell below 6.73, both of which fell by a few hundred basis points. The exchange rate difference between the two places has expanded to around 1600 basis points and climbed to a new high. According to industry insiders, the current market expectations are too consistent, with the influence of seasonal factors and the strength of the US dollar. In the short term, the RMB will still have downward pressure on the US dollar.

On the 6th, in the Hong Kong market, which opened the market first, the offshore RMB exchange rate against the US dollar opened lower. After the domestic market opened, the offshore RMB rebounded to a maximum of 6.6365 yuan, higher than the previous closing price of 6.6449 yuan, but Then the middle price opened by the domestic market stimulated the rapid diving of the offshore RMB, and thus opened a new round of decline.

According to the foreign exchange trading center, the inter-bank foreign exchange market on the 6th was set at 6.5314 yuan, down 145 basis points, a two-month high. It is worth noting that the median price is significantly lower than the closing price of the domestic market on the 5th. On the 5th, the closing price of the RMB exchange rate against the US dollar on the shore was 6.5199 yuan, and the last transaction price of the "night plate" was 6.5157 yuan.

According to the Wind market system, on the 6th, the offshore RMB exchange rate against the US dollar fell after the mid-point price in the market. At 16:30, it was 6.7107 yuan, down 635 basis points, and the 6.70 integer barrier fell. After that, it broke through 6.71, 6.72, and 6.73. As of the crossing, as of 19:00, the offshore RMB was as low as 6.7321 yuan, and it fell more than 800 basis points.

On the 6th, after the opening of the offshore foreign exchange market, the spot exchange rate of the RMB against the US dollar opened lower and fell to 6.5575 yuan at 16:30, down 376 basis points from the previous closing price, the biggest single-day decline since August 13, 2015; During the “night trading” period, the onshore renminbi turned into a shocking downtrend, reporting at 6.5543 yuan as of 19:00, the lowest to 6.5632 yuan, a drop of more than 400 basis points.

As the offshore RMB continued to fall rapidly, the exchange rate difference between the two places on the 6th once exceeded 1600 basis points, a record high.

Insiders pointed out that on the 6th, the central parity of the RMB against the US dollar continued to drop sharply, and it was more deviated from the closing price of the previous spot market, which induced market sentiment to concentrate on catharsis. Previously, the central parity of the RMB was often close to the spot closing price of the previous day, and the median price on the 6th was significantly deviated. It is easy to be understood as the monetary authorities actively releasing the depreciation signal. However, some analysts pointed out that the US dollar has regained its upward trend in the near future, and the US dollar index has risen sharply on the 5th, which is more helpful to explain the sharp drop in the middle price on the 6th.

According to industry insiders, the impact of personal purchases of foreign exchange at the beginning of the year has not been eliminated. The rapid depreciation of short-term exchange rates may stimulate the outflow of funds, and the market depreciation is still strong. The high exchange rate difference between the two places stimulates foreign exchange arbitrage, coupled with the strength of the US dollar, which affects many factors in the short term. Next, the renminbi still has downward pressure on the US dollar. At this time, the market expectation is relatively consistent, and the difficulty of intervention is also increasing. Therefore, the risk of the exchange rate continuing to decline is still worthy of attention.

According to statistics, on the three trading days since 2016, the on-the-counter RMB-to-US dollar spot exchange rate has depreciated by 639 basis points, which is close to 1%. Offshore RMB fell by 1634 basis points at the most, a drop of more than 2%.

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●Product Introduction
This product adopts patented technology, it has a little effect on air release, and have effective anti-foaming ability for special foaming substances. This kind of additive have good oil solubility, easy to use, no need to dilute, and can added to oil products directly.


●Reference Dose: 0.01%-0.1%

 

Physicochemical Properties

Typical Value

Density(20℃) kg/m³

780

Flash Point

70

Machine Miscellaneous, % (m/m)

0/01

Anti-foam (24℃, 500SN) ml/ml

25/0

Appearance

Transparent liquid

                               

●Product Storage/Handling/Transportation/Package
This kind of product is non-flammable, non-explosive and non-corrosive. Packaging, labeling, transportation, storage and acceptance of delivery should carry out by SH0164.
Product packaging: 150kg metal drum or according to user requirements packaging.

 

Remarks: If it touches the skin carelessly, you can wash through detergent and water.

Antifoam Additive

Antifoam Additive,Anti Foam,Anti-foaming Agent,Defoaming Additive

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