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ICBC Global Market: RMB Interest Rate Market Update - February 27, 2019
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On Tuesday (February 26), central parity exchange rate of RMB was 6.6952, an appreciation of about 0.27% over the previous trading day. RMB exchange rate in the interbank market opened at 6.6950 and closed at 6.6961 at 16:30, a depreciation of about 0.03% over the previous trading day, with the highest and lowest of 6.6900 and 6.7052, respectively. Regarding the swap market, the market trading was active, and swap points with different terms in the market slightly vibrated upwards. In the short term, the swap point with the next day term closed at 0.62, up 0.27 points over the previous trading day. In the medium and long term, the one-year swap point closed at -24, up 1 point over the previous trading day. Overseas RMB non-deliverable forward (NDF) rose by 39 points from the previous trading day to 6.7160. Its difference from domestic one-year forward exchange rate was 223 points.
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