The Effective Exchange Rate Of RMB Rose By &Nbsp In March, And 3.37% In May.
According to data released by the bank for International Settlements on 15, in May, the real effective exchange rate index of the RMB was 119.99, a significant appreciation of 3.37%.
The effective exchange rate of RMB has risen even in March.
The appreciation of the euro was the main reason for the rise in the effective exchange rate index of the RMB in May.
In May, the US dollar remained basically stable against the central parity of RMB.
The rescue plan, which is up to 750 billion euros, has only brought "one day quotes" to the euro, and the euro has been falling for several consecutive days.
Analysts believe that although Spain and Portugal take measures to reduce the budget deficit and reduce the possibility of a more severe debt crisis in Europe, the market fears that the reduction of government spending will lead to a sharp decline in GDP growth in these countries.
In addition, if the 750 billion euro aid program can be implemented smoothly, this substantial fiscal problem monetization solution will push up long-term inflation expectations, and the euro will still fall.
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