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ICBC Global Market: RMB Interest Rate Market Update - February 12, 2019
On Monday (February 11), central parity exchange rate of RMB was 6.7495, a depreciation of about 0.62% over the previous trading day. RMB exchange rate in the interbank market opened at 6.7619 and closed at 6.7804 at 16:30, a depreciation of about 0.61% over the previous trading day, with the highest and lowest of 6.7619 and 6.7804, respectively. Regarding the swap market, the market trading was sluggish, and swap points with different terms in the market kept range-bound. In the short term, the swap point with the next day term closed at 0.60, down 0.27 points over the previous trading day. In the medium and long term, the one-year swap point closed at -60, up 75 points over the previous trading day. Overseas RMB non-deliverable forward (NDF) rose by 407 points from the previous trading day to 6.8127. Its difference from domestic one-year forward exchange rate was 383 points.