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ICBC Global Market: RMB Interest Rate Market Update - November 15, 2018
On Wednesday (November 14), central parity exchange rate of RMB was 6.9402, an appreciation of about 0.33% over the previous trading day. RMB exchange rate in the interbank market opened at 6.9530 and closed at 6.9509 at 16:30, an appreciation of about 0.03% over the previous trading day, with the highest and lowest of 6.9466 and 6.9550 respectively. Regarding the swap market, the market trading was relatively vibrant, and swap points with different terms saw a slight upturn. In the short term, the swap point with the next day term closed at 0, up 0.29 point over the previous trading day. In the medium and long term, the one-year swap point closed at -266, up 4 points over the previous trading day. Overseas RMB non-deliverable forward (NDF) declined by 110 points from the previous trading day to 7.0055. Its difference from domestic one-year forward exchange rate was 812 points.