人行汇率中间价公告英文

人行汇率中间价公告英文

On December 15, 2023, the China Foreign Exchange Trading Center (CFETC) authorized the announcement of the Renminbi (RMB) exchange rate midpoint.

1. RMB Exchange Rate Midpoint Announcement

The CFETC is responsible for releasing the RMB exchange rate midpoint announcement on a daily basis. This announcement provides the benchmark exchange rate for RMB against major foreign currencies, such as the US dollar, Euro, Japanese Yen, Hong Kong dollar, British pound, and more. It plays a significant role in guiding the foreign exchange market and facilitating currency conversion.

2. Historical Data of RMB Exchange Rate Midpoint Announcement

The CFETC also maintains a historical record of the RMB exchange rate midpoint announcement. This data helps in analyzing the trends and fluctuations in RMB exchange rates over time. Traders, investors, and financial institutions can refer to this historical data to make informed decisions regarding foreign exchange transactions and risk management.

3. Other Exchange Rate Quotes

In addition to the RMB exchange rate midpoint, the CFETC also provides other exchange rate quotes such as the buying rate for cash and non-cash transactions, selling rate, benchmark rate, and Bank of China conversion rate. These quotes are essential for individuals and businesses involved in international trade, tourism, and remittances. It enables them to calculate the cost of currency conversion and assess the competitiveness of exchange rates offered by banks and other financial institutions.

4. Currency Conversion Rates

The CFETC publishes the RMB exchange rate midpoint against various currencies, including the USD, Euro, Japanese Yen, Hong Kong dollar, British pound, Malaysian Ringgit, Russian Ruble, Australian dollar, Canadian dollar, New Zealand dollar, Singapore dollar, Swiss Franc, South African Rand, Korean Won, and more. This wide range of currency conversion rates caters to the needs of individuals and businesses engaged in global trade and investment.

5. Trading Time Extension

In response to market needs, the People's Bank of China and the State Administration of Foreign Exchange issued a joint announcement on December 30, stating that starting from January 3, 2023, the trading time for the RMB foreign exchange market will be extended until 3:00 the next day in Beijing time. This extension allows market participants to have more flexibility in conducting RMB foreign exchange transactions and aligns with international trading hours.

6. Stable Exchange Rate Fluctuation Range

The CFETC maintains a stable exchange rate fluctuation range for the RMB against major currencies. Currently, the fluctuation range is set at 5‰ for spot RMB against the USD. This means that the RMB exchange rate midpoint can fluctuate up or down by 0.5% within a trading day. This stability promotes market confidence and facilitates international trade and investment.

In conclusion, the RMB exchange rate midpoint announcement is a crucial piece of information for individuals, businesses, and financial institutions involved in foreign exchange transactions. It provides transparency and stability in the currency market, facilitates currency conversion, and supports economic activities. The availability of historical data and other exchange rate quotes adds further value by enabling analysis and decision-making. With extended trading hours and a stable exchange rate fluctuation range, the CFETC ensures a smooth and efficient RMB foreign exchange market.