RMB in November

At present, in the context of the diversity of our main trading partners, effective exchange rate can represent the real exchange rate of the enterprise's trade valuation and settlement effectively compared with the bilateral exchange rate.

According to the Shanghai Securities Journal, the real effective exchange rate of the renminbi rebounded slightly in November, mainly because the renminbi rose significantly against the euro and the yen.

In November, the RMB against the US dollar showed a "V" trend of first rise and then down, a slight increase of 0.24%, while the intermediate price for the euro rose by 6% and 3.77% against the yen.

According to Lu Qianjin, associate professor of International Finance Department of Fudan University, in November, the renminbi's core exchange rate index for a basket of currencies rose by 3.5%.

In the basket of currencies currently calculated by the bank for International Settlements, the total share of the six currencies of the Japanese yen, US dollar, euro, Korean won, Hong Kong dollar and new Taiwan dollar amount to 83.6%, of which the weight of Japanese yen is the largest, reaching 26.2%, the weight of US dollar is 20.3%, and the weight of Euro dollar is 17.8%.

Since December, the RMB has been in a slight concussion with the US dollar. As of 16 days, the central parity of RMB against the US dollar was 6.6635, and the RMB fell by 69 basis points compared with the previous trading day. The industry expects that the nominal and effective exchange rate of RMB will continue to rise in December.