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ICBC Global Market: RMB Interest Rate Market Update - December 14, 2018
On Thursday (December 13), central parity exchange rate of RMB was 6.8769, an appreciation of about 0.43% over the previous trading day. RMB exchange rate in the interbank market opened at 6.8780 and closed at 6.8690 at 16:30, an appreciation of about 0.29% over the previous trading day, with the highest and lowest of 6.8629 and 6.8888, respectively. Regarding the swap market, the market trading was relatively thin, and swap points with different terms in the market saw a slight upturn. In the short term, the swap point with the next day term closed at 0, down 0.03 points over the previous trading day. In the medium and long term, the one-year swap point closed at -260, up 14 points over the previous trading day. Overseas RMB non-deliverable forward (NDF) declined by 249 points from the previous trading day to 6.9118. Its difference from domestic one-year forward exchange rate was 688 points.