The People’s Bank of China and the official issued another statement to support the expansion of the RMB’s evening rally | Anue Juheng-Forex

The People’s Bank of China and the State Administration of Foreign Exchange spoke out once more on Thursday (29th) to ensure thatRMBThe rebound extends and extends gains in overnight trade, offshoreRMBIt rose to the top of 7.13, with an intraday gain of over 700 points.

The People’s Bank of China announced on Thursday that the Monetary Policy Committee held its third-quarter regular meeting.RMBIn terms of exchange rate, continued the second quarter “deepening exchange rate market-oriented reforms, strengtheningRMBExchange rate flexibility, guide enterprises and financial institutions to adhere to the concept of risk neutrality, strengthen expectation management, maintainRMBThe basic stability of the exchange rate at a reasonable equilibrium level”.

In addition, the announcement also added a new expression on real estate, promising to increase the special loan for “guaranteed delivery” as needed to ensure that delayed real estate projects can be delivered, and called on commercial banks to provide financing support for this.

The People’s Bank of China pointed out that it will support rigid and improved housing needs with city-specific policies, accelerate the implementation of special loans for “guaranteed property handover”, and increase efforts as needed. The statement summed up the decisions of the central bank’s monetary policy committee’s third-quarter regular meeting on September 23, which was chaired by Governor Yi Gang.

The People’s Bank of China’s statement also stated that it will “enhance the stability of the growth of total credit, keep the growth rate of money supply and social financing scale basically in line with the nominal economic growth rate”, and will “further unblock the monetary policy transmission mechanism and maintain reasonable and sufficient liquidity”. “.

The State Administration of Foreign Exchange of China also published an article in the followingnoon, stating that it will severely crack down on violations of laws and regulations in the field of foreign exchange.

With the support of the official position, onshore and offshoreRMBBoth strong bombs, especially reflected in the offshoreRMB, took the lead in rebounding sharply and recovered the 7.15 mark in the early morning of this morning, rebounding more than 1200 points from yesterday’s lowest point of 7.2675. Although the gains subsequently narrowed, it continued to rise by more than 700 points in the evening, to above 7.13, and temporarily reported 7.1266.

Meanwhile, Archyde.com reported, citing people familiar with the matter, that the People’s Bank of China is stepping up efforts to curbRMBDevaluation, which has asked big state-owned banks to prepare to sell dollars in the offshore market, also pushed up from the newsRMBgain.


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