The exchange rate of the Renminbi has risen from a falling
The prospects for Sino-US negotiations have improved slightly, and the exchange rate of the RMB has risen from a downtrend to a stable 6.89 mark. The Ministry of Commerce said yesterday that Vice Premier Liu He had a telephone conversation with U.S. Treasury Secretary Mnuchin and Trade Representative Wright Heze. The two sides exchanged timetables and road maps for the implementation of the consensus between the two heads of state and the next step of economic and trade consultations. The opinion.
Hong Kong dollar interest rate rose for 11 days
Stimulated by the news, the CIF (CNY) closed at 6.899 yesterday, up 145 pips. The middle segment once rose above the 6.89 mark and the high was 6.889. The FOB price (CNH) is the highest at 6.893, as at 9:45 pm, at 6.895; for every 100 Hong Kong dollars, it is 88.2.
The Hong Kong dollar interest rate continued to rise. It rose to 2.211% on the 11th day after the relevant 1-month interest rate. The 3-month interest rate rose to 2.3099%, a 10-year high.
The Chief Executive of the HKMA, Mr Chan Tak-lam, said that Hong Kong has entered the interest rate hike cycle. However, it is believed that the Bank of Hong Kong may not follow suit every time. If the Fed raises interest rates as expected next Monday, whether the Hong Kong Bank will increase the increase will be a banking business decision. He also mentioned that the interbank interest rate of Hong Kong has risen, representing the rising cost of bank funds and increasing the pressure on banks to raise interest rates.
The chairman of the Banking Association, Shi Yingyin, said that there are many uncertainties in the world. It is difficult to comment at this stage whether Hong Kong banks need to raise interest rates again on the 20th of this month.