Page 1: RMB 2011 or more than 6% increase in page 2: the use of financial instruments to hedge foreign exchange risk
1 13, break 6.5 against the dollar, setting a new high since the exchange rate reform. In the President's visit on the eve of faster appreciation of the RMB against the U.S. dollar, just one week to reach 0.68% rise, rise to the unusual transactions attention. In addition to climbing higher and higher against the dollar, the RMB against other currencies fluctuate, while also maintaining two-way shock rise this year against the euro, Japanese yen and the ruble and other currencies have shown a more substantial gains accumulated.
been ascribed to the trend of the RMB, whether individual investors or companies need to adjust their investment and financial management strategies. For an individual, should be held earlier plan to reduce foreign exchange foreign exchange holdings into yuan. Meanwhile, the weak currency financial products should be reduced investment, increase the rate hike cycle of the investment ratio under the strong currency in order to obtain the dual exchange rate and interest rate profits. For enterprises, can take advantage of various financial instruments to hedge foreign exchange risk.
2011 yuan or more than 6% increase in dollar policy unchanged
foreign exchange market last week, the dollar index changed little, but the China Foreign Exchange Investment Research Institute said Tan Yaling, a week dollar 1.29 against the euro exchange rate? $ 1.34 large variables, the euro jumped to 200 points, the euro is a key negative factor in the transition, U.S. policy was that the purpose has not changed, the dollar devaluation of the core strategy.
Powei addition to continued U.S. dollar against RMB, U.S. dollar against the yen last week, is relatively stable at 82? 83 yen level. 1.55 U.S. dollar against the pound? $ 1.58 large changes in the sterling exchange rate depreciation of the dollar has also been presented. Exchange rate of U.S. dollar against the Swiss franc in 0.96? Relatively stable between 0.97 Swiss francs. USDCAD exchange rate stable at 0.98? 0.99 Canadian standards. Australian dollar exchange rate was 0.98? $ 0.99 range, and even re-emergence of parity interval. New Zealand dollar exchange rate stable at $ 0.76, the main trend followers weekend fell to $ 0.77.
Tan Yaling analysis, the performance of the foreign exchange market continued to highlight the week, pray for stability in the dollar devaluation strategy, especially the negative factors in the increase in the euro, the dollar depreciation trend of the technology is still realize that the dollar needs urgent and pressing . Bank for International Settlements has estimated that in the case of the dollar continues to weaken the yuan against the dollar to 6.35 yuan to rise around the end of the year appreciation of about 4%.
2011 by the end of the RMB against the U.S. dollar or to 6.2
Recently, the major international financial institutions have issued a research report in 2011, which coincidentally have raised the appreciation of the renminbi expectations. China Citibank Citigroup Investment Research and Analysis Division Head, Greater China chief economist Shen Ming Gao pointed out that the appreciation of the renminbi is expected to be about 5%. Despite the U.S. economic recovery may be better than expected, but the value of the dollar is still down the space, the weak U.S. dollar boost the appreciation of the renminbi.
Goldman Sachs recently released research report also said it expects dollar / yuan will drop to 6.23 yuan at the end, before the expected 6.29 million. Goldman said the dollar / yuan is expected to remain basically the adjustment of the original view that the Chinese government will allow the yuan to appreciate about 6%, not 12-month non-deliverable forward contracts of approximately 2.8% expected.
In addition, Standard Chartered Bank in its latest report is also expected to accelerate the pace of RMB appreciation and RMB against the U.S. dollar had expected full-year rate of appreciation in 2011 by the 4-5% upwards to 6%. Wang Tao, chief economist at UBS Securities believes that, in 2010, 3% appreciation of the RMB against the U.S. dollar, the RMB 2011 will be on the rise, driven by international pressure to the appreciation of 6%, year-end 2011 exchange rate of RMB against the U.S. dollar of 6.2 million.
recent analysis of JP Morgan pointed out that rising incomes in developed countries and the establishment of confidence in economic recovery, there is good reason to believe that the personal spending level will rebound after the financial crisis lows. Further job creation and capital inflows will continue to promote confidence in emerging countries and the overall economic growth. Therefore, China's export sector is expected to show steady growth. Currency is expected the yuan / dollar before the end of 2011 will remain at 1 U.S. dollar 6.3 yuan level.
personal finance the purchase of foreign exchange swaps can act
and many financial planners recommend that investors, if the position held by overseas investment, it might be timely conversion of foreign exchange earnings as the renminbi, to reduce the currency devaluation of the currency exchange rate risk in the process. may wish to consider giving up a one-off investment to purchase foreign exchange with RMB financial batches. This investment allows investors to enjoy the appreciation and the double benefit of foreign financial gain. Residents also began to pay part of the HK store get converted into RMB yuan accounts in Hong Kong.
In addition, a weaker dollar makes U.S. tourist spending picking up again, shopping and studying in the United States costs are further down. Experts pointed out that during the Spring Festival of the public who intend to travel abroad, purchase of foreign currency exchange is now a good time, two-way fluctuation mechanism of the RMB to strengthen, in fact, the RMB exchange reform since the continuous and less likely to rise this situation, the current stage of the RMB exchange rate soaring, it is short-term demand for dollars to purchase foreign exchange to purchase foreign exchange good time.
U.S. financial products to reduce investment
relative to the foreign currency financial products many uncertainties, the renminbi wealth management products in anticipation of the rising interest rates and still strong. Appreciation of the RMB exchange rate into the channel, but also has a strong interest rate expectations, the market will continue to forecast strong yuan assets. In addition, the era of negative interest rates also make deposits of RMB financing products as alternatives to draw for investors. Jun Mao Danping, dean of financial wealth has said that from an investment point of view, the initial interest rate and interest rates early Jiancang, is relatively safe. For fixed-income bonds and bank financial products, interest rates also means that yields will increase.
the financial sector bank financial products based on weekly statistics show that last week, compared with RMB financing products are still hot, issued a total of 155 RMB products, accounting for 73.11% of the overall number of issued. But the dollar in foreign currency financial products are also many products, last week issued 15 accounting for 7.08% total number issued. The product was launched last week, the expected rate of return is still the highest in two Australian dollar and the RMB currency rate hike cycle in the species.
expired products from the real rate of return perspective, the Bank of China (601988, stock it) (3.23, -0.02, -0.62%), the convergence issue Po 1011P-Australian variable product expiration period the highest rate of return for 4% of the product in order to protect the fixed income financial products, investment currency is Australian dollars. Issued by the Bank of Shanghai,
experts also cautioned that the current foreign currency swaps to buy financial products should be cautious. If the hand-held dollars, the continuing weakness of the euro and other currencies can be exchanged for a consideration of RMB investment. In anticipation of the current interest rate of RMB yuan of financial products can gain the most, while the dollar may be appropriate to reduce the financial product. In accordance with the market forecast of RMB against the U.S. dollar this year will increase about 5%. Insiders have calculated that an account balance, the current U.S. financial products one-year rate of return of 3%, while the renminbi is not difficult to obtain financial gain more than 4% of the proceeds, and if the dollar holds financial products, not only on the exchange rate will be 5 % of the losses, the interest of the U.S. dollar is also a loss of zero interest rates a lot.
In addition, conservative investors, even if the variety of fixed income investments, is also on the term structure should be adjusted. Industry experts said the currency should be based on the level of interest rates is expected to select a different period of the strength of the product. Currency interest rate increase is expected to urgent, to less than 6 months should be the main species to the product due to switch to higher interest rates when the species.
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