The exchange rate of the RMB against the US dollar continues to fall again and approaches the 6.34 mark.

The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that the central parity of the RMB exchange rate in the inter-bank foreign exchange market on September 19, 2012 was: US$1 to RMB6.3392. Affected by the initial digest of QE3 news and the deterioration of the domestic situation in Spain, the US dollar rebounded against major currencies yesterday. In this context, today the central parity of the yuan against the US dollar fell 39 basis points, once again approaching the edge of the 6.34 mark. The latest data from the euro zone yesterday showed that non-performing loans in the Spanish banking sector rose to 169.33 billion euros in July, accounting for 9.9% of the loan balance, which has risen to an all-time high. On the other hand, Spain is still not seeking assistance from the EU, and its situation is increasingly urgent. Driven by risk aversion, the US dollar rebounded against the euro since the four-month low, and the US dollar index rose 0.35% to 79.23. At the same time, the euro fell below the 1.31 mark on the day of the US dollar and closed at 1.3036 in late trading. Under this circumstance, the euro today also fell from the high level of the renminbi to 8.3, down 310 basis points to 8.2660. According to the latest data released by the Bank for International Settlements, the real effective exchange rate index of the RMB in August was 105.79, a decrease of 0.5% from the previous month, and the momentum of RMB depreciation continued. Although the US dollar fell under pressure after the Fed launched QE3, the recent RMB has not seen a significant increase against the US dollar. The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that the central parity of the RMB exchange rate in the inter-bank foreign exchange market on September 19, 2012 was: US$1 to RMB6.3392, 1 Euro to RMB8.2660, and 100 yen to RMB8.0492, HK$1 For RMB 0.81769, 1 GBP to RMB 10.2930, 1 Australian dollar to RMB 6.6169, 1 Canadian dollar to RMB 6.4997, RMB 1 to 0.48369 ringgit, and RMB 1 to 4.8912 Russian rubles.

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