*** For the first time, the median price of the US dollar broke 6.6

According to the latest data from the China Foreign Exchange Trading Center, the central parity of the yuan against the US dollar rose above 6.6 on January 13 and hit a new high since 6.5997.

The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that on January 13, 2011, the middle exchange rate of the RMB exchange rate in the inter-bank foreign exchange market was: 1 US dollar against 6.5997 yuan, 1 euro against 8.6684 yuan, 100 yen against 7.9438 yuan, 1 HK dollar For the RMB 0.84907, a pound against the RMB 10.38978, a RMB 1 against the 0.46295 ringgit, and a RMB 1 against the 4.5724 Russian ruble.

In the previous trading day, the RMB exchange rate against the US dollar was reported at 6.6128.

The recent European and American stock markets continued to strengthen, making the market risk appetite continue to improve. Affected by this, the dollar of the international exchange market continued to fall, and the middle price of the renminbi against the US dollar rose sharply, creating a record high.

The Ministry of Foreign Affairs held a regular press conference on January 13. Spokesperson Hong Lei said that the appreciation of the renminbi will not solve the trade imbalance between China and the United States. China unswervingly promotes the reform of the RMB exchange rate formation mechanism and keeps the RMB exchange rate basically stable at a reasonable and balanced level.

Market forecast is highest or exceed 6%

Lu political commissar of Industrial Securities senior economist believes that in 2011, in the need to reduce the pressure of imported inflation, the appreciation of the renminbi against the dollar may be greater than in 2010. The rate of appreciation of 5%-6% is very likely.

He believes that the continued growth of the Chinese economy and the improvement of production efficiency are the internal driving forces for the appreciation of the renminbi. In 2007 and 2008, where the economic environment may be similar to this year's appreciation, it is expected that under the objective of stabilizing prices, the central bank will reduce the pressure of imported inflation through appreciation. This year, the appreciation of the renminbi may reach the highest level of 6%.

Wang Tao, chief economist at UBS Securities, believes that after the RMB appreciates 3% against the US dollar in 2010, it is expected that the renminbi will appreciate by 6% due to rising international pressure in 2011. By the end of 2011, the RMB exchange rate against the US dollar will reach 6.2.

Investment in renminbi assets should be cautious

When the famous American investor Rogers made an investment report at the Chicago United Club on the 12th, he said that the renminbi is one of the safest currencies in the world today, but it is necessary to exercise caution when investing in renminbi assets.

Rogers said that in view of the long-term growth prospects of China's economy, the renminbi is one of the safest currencies in the world. In the next few years, the renminbi will show a trend of appreciation. At this stage, it can be boldly bought and held on a long-term basis. However, investment in renminbi assets should be chosen at the right time. He believes that there is a certain price overestimation in the Chinese real estate market. For the Chinese stock market, he is optimistic about the long-term, it is recommended that investors buy in the fall, long-term hold.

At the same time, Rogers has long underperformed the dollar. He believes that the fundamentals of the U.S. economy determine the long-term weakness of the U.S. dollar, and that the Fed’s quantitative easing monetary policy will inevitably lead to a weaker U.S. dollar.