The exchange rate of the renminbi against the US dollar fell slightly. In China's foreign exchange trading center, the renminbi inquiry closed at 6.6555 against the US dollar today, and the exchange rate fell 4 points from the 6.6551 that closed yesterday.
Foreign exchange companies pointed out that the United States reiterated its second round of quantitative easing promises, coupled with better-than-expected economic data, which stimulated the US dollar to rise and the exchange rate of the yuan against the US dollar to fall.
After the US Federal Reserve’s Open Market Committee (FOMC) held its last interest rate meeting this year, it kept interest rates unchanged at zero to 1/4 percent. It also reiterated plans to purchase 600 billion U.S. government long-term bonds next year.
The People's Bank of China set the renminbi exchange rate against the U.S. dollar at 6.6566 to one US dollar today, 35 pips lower than yesterday's median price. The exchange believes that the PBOC set the middle price of the yuan against the US dollar at a relatively low level, indicating that Beijing wants to keep the RMB exchange rate against the US dollar stable.
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