Recently, the trend of the exchange rate of the yuan has attracted the attention of many people

 

The exchange rate of the yuan has soared, and it has been frantically purchased by countless countries for two consecutive days

 

On May 16, the dollar fell to near 7.21 against the offshore yuan, two consecutive trading days of a big drop in the market, while the yuan against the U.S. dollar maximum gain was nearly 400 points.

 

 

Since the USD to RMB is falling, what’s the situation of other currencies to RMB? Here is Panda’s research:

Yen: Bouncing back

 

The U.S. Department of Labor on the 15th released the April consumer price index (CPI) data, triggering market speculation that the Federal Reserve will cut interest rates within the year, also let the yen, which has been under constant pressure lately, can finally breathe a sigh of relief.

 

The data showed that the yen regained strength against the backdrop of a weaker dollar. Tokyo foreign exchange market showed that the yen against the dollar once reached 153.57 yen per dollar, a high point in six days. The yen against the yuan also followed the trend of rebound, quickly to near 0.47.

AUD: Continuous Rise

 

From May 15th, the Australian dollar against the Chinese yuan officially broke through the 4.8 gate!

 

 

The last time the Australian dollar broke through the 4.8 mark against the Chinese yuan was in January this year. Since then, for several months, the AUD/CNY exchange rate was barely close to 4.8.

 

But from the middle of April, the Australian dollar against the Chinese yuan exchange rate suddenly began to rise sharply. Although there was a brief decline in the middle, but it soon climbed back up, and now even once broke through 4.8.

 

According to the current trend, in a short period of time, the Australian dollar against the Chinese yuan rate may remain above 4.8.

Canadian Dollar: Relatively Stable

 

 

Since the central bank's interest rate conference released its result in mid-April, the Canadian dollar has hit a low point against the U.S. dollar, falling to $0.728. On the other hand, it has fluctuated relatively steadily against the Chinese yuan, remaining around 5.25, a bit higher than the same period in last May.

 

However, with the arrival of the June interest rate meeting, the Canadian dollar is expected to usher in more volatility. For Panda’s friends who need to get some foreign exchange, pay close attention to interest rate changes, and seize the opportunity!

Sterling: Volatile All the Way

 

The trend of pound always pounds with hearts of exchange students

 

In mid-May, the pound fell to 9.01 against the Chinese yuan and below 1.25 against the US dollar, reaching its lowest point since November last year.

 

However, in the past few days, the GBP/CNY exchange rate has quickly rebounded to 9.18. However, it is predicted that with the adjustment of the UK policy coupled with the forecast of interest rate cuts, the GBP will have a downward trend next.

Hong Kong Dollar: Slight Rise

 

 

Hong Kong's economy showed moderate growth in the first quarter, with real GDP increasing by 2.7% year-on-year. The Hong Kong dollar also saw a modest rise against the Chinese yuan, up by about 0.10%.

Singapore Dollar: Gradual Recovery

 

 

Against the backdrop of continued divergence from the monetary policy of the Federal Reserve, there has been a generalized depreciation of currencies in Asia. The Singapore dollar recently rebounded after a brief depreciation, and is now basically maintained at around 5.3.

Korean Won: Decline

 

 

Federal Reserve interest rate hike has a great impact on Won. As early as in April when Japan, South Korea and other Asian countries have introduced measures to save the market, it is obvious that South Korea's domestic and international economic situation is still severe, but for friends who want to make some purchases in South Korea, it’s a rather good time to move.

 

 

At present, Asian currencies and the United States dollar are in a dichotomy. However, in the case of the general depreciation of Asian currencies, the yuan did not fall but increased.

 

The recent weak employment data and inflation in the United States eased the short-term external pressure on the RMB exchange rate, while some major policy will be released in the Chinese property market, China’s internal drive is also enhanced.

 

A rising RMB is a quite a good news for friends about to pay American tuition, who should focus more on where the rate trend is heading toward. Overall, the future exchange rate trend is affected by many factors, and it is difficult to give an accurate prediction. What Panda can do is to broadcast the latest exchange rate for you, let's try to grasp the good exchange rate, get some foreign currencies in time~

 

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