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ICBC Global Market: RMB Interest Rate Market Update - December 5, 2018
On Tuesday (December 4), central parity exchange rate of RMB was 6.8939, an appreciation of about 0.71% over the previous trading day. RMB exchange rate in the interbank market opened at 6.8850 and closed at 6.8401 at 16:30, an appreciation of about 0.70% over the previous trading day, with the highest and lowest of 6.8356 and 6.8850 respectively. Regarding the swap market, the market trading was relatively vibrant, and swap points with different terms in the market saw a slight downturn. In the short term, the swap point with the next day term closed at -0.01, down 0.02 points over the previous trading day. In the medium and long term, the one-year swap point closed at -275, down 21 points over the previous trading day. Overseas RMB non-deliverable forward (NDF) declined by 478 points from the previous trading day to 6.8882. Its difference from domestic one-year forward exchange rate was 756 points.