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ICBC Global Market: RMB Interest Rate Market Update - January 21, 2019
Last Friday (January 18), central parity exchange rate of RMB was 6.7665, a depreciation of about 0.11% over the previous trading day. RMB exchange rate in the interbank market opened at 6.7720 and closed at 6.7706 at 16:30, an appreciation of about 0.06% over the previous trading day, with the highest and lowest of 6.7670 and 6.7751, respectively. Regarding the swap market, the market trading was generally active, and swap points with different terms in the market saw a slight vibration. In the short term, the swap point with the next day term closed at 0.08, down 0.22 points over the previous trading day. In the medium and long term, the one-year swap point closed at -230, up 20 points over the previous trading day. Overseas RMB non-deliverable forward (NDF) rose by 135 points from the previous trading day to 6.8095. Its difference from domestic one-year forward exchange rate was 619 points.