June 21, pledged repo rate inter-bank market is opening sharply higher, 7 days varieties rose sharply by over 90 basis points to 4.38 percent, which is the variety rate of more than 4% for the first time since April 6, level of interest rates was about 4.23%.
At the same time, the central bank this week to continue the suspended central vote, only 20 billion yuan 28 days and 50 million 91 Tengen repurchase operations, due this week" /> RMB against the U.S. dollar close to the "lower limit" to break through the 7-day repo rate to 4% - Financial Freedom - Finances/Money - Article - unite Directory-Free of the excellent site collected by artificially editor. Website directory, and provides site classification catalogues retrieval, is the webmaster free promotional powerful platform website.
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RMB against the U.S. dollar close to the "lower limit" to break through the 7-day repo rate to 4%

:2012-06-25 22:06:17Source::UniteDirectory  [Submit Article]  [Submit Link]

  "Money is hard to borrow." This is the mantra of a lot of inter-bank market traders. And last week the money market interest rates rose, highlights the tension of the end of the end of the quarter and six months market funds.
June 21, pledged repo rate inter-bank market is opening sharply higher, 7 days varieties rose sharply by over 90 basis points to 4.38 percent, which is the variety rate of more than 4% for the first time since April 6, level of interest rates was about 4.23%.
At the same time, the central bank this week to continue the suspended central vote, only 5 billion yuan to 20 billion yuan 28 days 91 Tengen repurchase operations, because this week there are 80 billion yuan repo maturity, therefore injected a net 55 billion in open market net for the third consecutive week running, while the previous two weeks to put the scale of 20 billion and 36 billion yuan.
However, this does not alleviate the surface tension of funds in the market, the interbank market repo rate continued to rise. Assessment of effects of the end of six months starting to show, money market interest rates continue to rise, expect the central bank will take the reverse repurchase and other measures to stabilize funding tensions. "Everbright Securities (601,788) reported.
Hai Tong Securities (600,837) believes that the current point of view, the inter-bank liquidity will soon be facing fiscal deposits increased in July to bring the monetary base decreased. Historically, June deposit will be substantially increased, commercial banks need to repay the reserve fund, money market interest rates affected the rise since the month, is expected in July, there will be the deposit reserve ratio is lowered.
Market participants tend to think that, to ease the liquidity in the market, do not rule out the central bank will again enable lower and lower quasi-combination of the first reverse repurchase May 18 May 7 - May 11 week, the central bank had alternately in the open market repurchase and reverse repurchase operations, cut the deposit reserve ratio, so that market participants by surprise.
The central bank data show that the May foreign exchange, despite the return to positive growth, but only an increase of 23.431 billion yuan.
It is worth noting, June 21, the RMB against the U.S. dollar central parity reported 6.3004, but the largest decrease in the intraday exchange rate than the central parity of 0.98%, close to the "limit", that the RMB exchange rate depreciation trend has continued, changes of foreign exchange would have a direct impact.
"The devaluation of the renminbi means that short-term capital outflow to a certain extent, so although the May foreign exchange resume positive growth, but the growth rate is very small this year, foreign exchange marked slowdown in growth will continue at the same time, the open market to of funds dropped significantly, which means that to maintain a relatively loose liquidity only drop prospective, it is expected to deposit prospective rate will be down 1-3. "Bank of the chief economist Lian Ping think.

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