People's Bank of China: my country's foreign exchange market is operating normally, and the elasticity of the RMB exchange rate is significantly enhanced

Yesterday (September 5), the State Council Information Office held a routine briefing. When answering the issue of reporters on the RMB exchange rate, the relevant person in charge of the People's Bank of China said that the current foreign exchange market in my country is operating normally, and the reform of the exchange rate system based on market supply and demand has continued to deepen, and the elasticity of the RMB exchange rate has increased significantly.

Liu Guoqiang, Vice President of the People's Bank of China: At present, the Chinese foreign exchange market is operating normally, and the flow of cross -border funds is orderly. This is due to the long -term good fundamentals of China's economy, and the economic toughness is relatively strong. The reform of the exchange rate system based on market supply and demand is continuously deepened, macro -prudential management has been continuously improved, and the flexibility of exchange rates has also been significantly enhanced. This is better to use the functions of regulating the automatic stabilization of the macroeconomic and international revenue and expenditure.

Regarding the recent depreciation of the RMB exchange rate on the US dollar, Liu Guoqiang believes that it is mainly affected by the US overtime monetary policy.

Liu Guoqiang, Vice President of the People's Bank of China: The dollar has appreciated by 14.6%since this year. In the context of the appreciation of the US dollar, other reserve currencies have depreciated by other reserve currencies in the basket in the basket. Compared with other non -US dollar currencies, the depreciation is the smallest. It should be said that in addition to the depreciation of the US dollar, the RMB is appreciated with non -US dollar currencies. The long -term trend of the renminbi should be clear. There are two -way fluctuations, and there will be no "unilateral cities". A reasonable and balanced and basic stability state will be seen by us. We also have the strength to support it.

Source: CCTV News Client

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