Major Statement from the Central Bank: How Should We View the RMB Exchange Rate?
智通财经2026/10/09 01:06Many traditional views hold that the RMB exchange rate is solely determined by the central bank, appreciating or depreciating at its discretion. This is a major misconception. In its latest statement, the central bank has once again reiterated that China is committed to allowing the market to play a decisive role in exchange rate formation. China implements a market-based exchange rate regime and has completely withdrawn from regular interventions since 2017. In the future, the RMB exchange rate will not be deliberately appreciated or depreciated. China will continue to respect the market, uphold bottom lines, avoid gaming, and refrain from manipulation. This is the most fundamental and certain long-term trend for the RMB exchange rate in the coming years. (CCTV)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The euro is heading for a fifth consecutive week of decline, but signs of weakening selling pressure are emerging.
(1) On Friday, the euro is heading for its fifth consecutive weekly decline. However, as the French bond market stabilizes and falling US Treasury yields temper the dollar’s rally, the sustained selling pressure on the euro is beginning to show signs of easing. (2) On Monday, the euro briefly fell to 1.1161 against the US dollar, hitting a 17-month low before rebounding; this week it remains down 0.1%, with a cumulative loss of over 3% over the past five weeks. (3) Matt Simpson, senior analyst at StoneX in Brisbane, said: "I think the current market move now looks a little overdone. The euro typically only experiences two or three major swings a year, and this is one of those... but the bearish momentum is waning, so trading at current lows should be approached with particular caution." (4) Vishnu Varathan, Head of Asia Pacific Macroeconomics and Strategy at Mizuho Securities, stated that the dollar is currently “in a precarious position of dominance,” with its strength partly owing to the weak performance of both the euro and the yen.
US aerospace and defense stocks remain chilly! JPMorgan warns: Military spending outlook darkens, cooling aviation demand, and even positive Q3 results may not reverse the downturn
According to information from Zhitong Finance APP, JPMorgan believes that aerospace and defense companies are about to face a challenging third-quarter earnings season. The slowing growth of air passenger traffic, uncertainties about the outlook for U.S. military spending, and persistent supply chain constraints are all weighing on investor sentiment.
Bernstein says TSMC's Q3 revenue of 1.49 trillion New Taiwan dollars exceeded expectations by 3%
Bernstein stated that the continued growth in artificial intelligence demand and the resilience of high-end smartphone demand may continue to drive revenue growth for TSMC (TSM.US). Bernstein analysts pointed out that, based on monthly revenue data, TSMC's revenue in the third quarter reached NT$1.49 trillion, 3% higher than market expectations. The firm expects TSMC's revenue this year, denominated in US dollars, to grow by 41%. Analysts said that TSMC will release its full third-quarter financial report on Thursday, and investors will focus on its 2-nanometer process capacity ramp-up, the possibility of further expansion in the US, and the outlook for 2027. Bernstein believes there is upside potential to its previous forecasts of 30% annual revenue growth for TSMC in 2027 and 2028.
INE crude oil main contract fell 1.04% intraday, latest reported at 729.7 yuan/barrel
The main contract of Chinese INE crude oil futures just broke through the 730.0 yuan/barrel mark, now trading at 729.7 yuan/barrel, down 1.04% for the day.
Crypto prices
More
