On March 28, the central price of RMB was 7.0948, down 2 points. The median price for the previous trading day was 7.0946.
Federal Reserve Governor Waller: Economic conditions make it no reason for the Federal Reserve to cut interest rates on a large scale
Federal Reserve Governor Waller said that economic conditions have given us no reason to cut interest rates on a large scale; supply chain problems have been mitigated by positive progress in the inflation situation; and the disaster at the Port of Baltimore is unlikely to seriously disrupt the economy.
There is a solid foundation for the RMB exchange rate to remain basically stable
“The recent performance of the RMB exchange rate is more prone to phased fluctuations. Mainly, recent short-term uncertainties from overseas have disrupted foreign exchange market sentiment.” Zhou Maohua, a macro researcher at the Financial Markets Department of Everbright Bank, said that the RMB exchange rate (CFETS) index currently fluctuates around 98 to 99, indicating that the RMB exchange rate remains stable, and the RMB exchange rate fluctuates significantly less than that of major currencies such as the US dollar, and the overall market sentiment is stable.
RMB has been the fourth largest payment currency in the world for 4 consecutive months
According to the latest RMB monthly report and statistics released by the Global Banking and Financial Telecommunication Association (Swift), in February 2024, the RMB maintained the position of the fourth most active currency in the world in the ranking of global payment currencies based on monetary statistics, accounting for 4%.