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The central parity rate of the RMB is very important. The offshore exchange rate has now fallen from 6.7124 to 6.7908, a range of more than 1.1%, but the onshore exchange rate is 6.6030.

If the central bank wants to intervene strongly in the exchange rate market, what will it do? The answer is very simple.

I don’t care about your offshore exchange rate. I just want the onshore exchange rate to go according to my ideas. What can you do if you shout 6.6 again? If there is room for arbitrage between onshore currencies and onshore exchange rates and offshore currencies and offshore exchange rates, there will naturally be capital to adjust.

You know, if the central parity rate of the exchange rate is 6.6030, then the onshore exchange rate can only fluctuate by plus or minus 2% from this number. Then, even if you fall by 2%, I will call 6.6030 again tomorrow. How about it? Isn’t it very gangster? Isn’t it cool? Are you helpless?

The answer is that international financial institutions will feel as if their dogs are beeping.

This is also an important reason why China is always accused of being a currency manipulator. If you can decide the exchange rate yourself, how can you engage in financial marketization?

Therefore, the central parity rate is very important. It can show the intensity of China's intervention in the exchange rate. Sometimes, China will even use foreign exchange reserves to stabilize the RMB exchange rate, and then call out an appropriate central parity rate, treating the so-called marketization as a joke.

Lei Hao wants to get the middle price first, and the reason is very simple. He needs to know the attitude of the regulators towards the Thunder. It is also important to him whether he can know the dynamics of the regulators. Although it is only 20 minutes in advance, he has the confidence in his heart. Easy to do.

Before the 9 o'clock bell rang, the door of the conference room was knocked open, and the assistant Xiang Yongze had arranged outside ran in immediately.

"6.6757!"

In the conference room, an inexplicable emotion surged into everyone's hearts.

They are all elites in the financial circle, and everyone can easily see what this number means.

Yanjing, central bank.

Wang Huachen was facing doubts from some people, but there seemed to be fire jumping in his eyes, and there were several people who were as angry as him.

"6.6757, it is very dangerous to let the central parity fluctuate with the offshore exchange rate."

"The pace of marketization does not need to be too fast. We can try data such as 6.65 first."

"Yes, the RMB does not just focus on the US dollar, we refer to a basket of currencies."

6.6757, which is also a drop of 1.1% compared to 6.6030. The central bank asked the Foreign Exchange Trading Center to report this number. The attitude is already obvious: hold on!

It makes no sense. I called for financial marketization a few days ago. Now we are going to start strongly intervening in the financial market. Isn’t it just 1%? As long as it is determined by the market, I can give it.

Small numbers represent determination and courage, but they also represent huge risks.

If the trend of collapse is too strong, something could easily happen. At that time, you will have to eat back the numbers you shout out, or you will have to use foreign exchange reserves to calm it down. The picture is simply too beautiful.

"The overnight figure of Shibor has risen to 12%. Do you think... at this time, we need to stabilize the mid-range price?"

"Expectations for the appreciation of the U.S. dollar have increased, and the U.S. dollar index has risen close to 1%. Do you think...at this time, we need to stabilize the central parity rate?"

"People outside are waiting to see our jokes. Can we take back what we just said? Can we eat back the shit we just pooped? Furthermore, we must be tougher now. When it's time to eat shit, this kind of toughness Attitude is just the seasoning on that lump of food. At that point, what are you still afraid of?"

Wang Huachen scolded him twice in a row, and then directly swore at him, which made a group of people feel resentful.

The meaning of these words is also very simple. Since financial marketization has been implemented, then we must implement it firmly first. Even if the situation is very bad, the central bank can intervene and adjust back at any time. Then the result is obvious. You have overturned your own view of financial marketization. Now, are you still worried that your current tough attitude will be taken as a joke?

There are too many lice but it doesn't itch. This is what Wang Huachen means.

Yangcheng, Thunder.

Everyone was very excited. The central bank stuck to the figure of 6.6757, showing its firm market-oriented attitude. This is undoubtedly something that Chinese financial practitioners are very excited about.

For Lei Hao, the impact on his current operation project was mixed.

The disadvantage is that the central bank has expressed its attitude that 1% is not to interfere with the psychological line, and short sellers will smile comfortably.

The advantage is that the central bank has expressed its attitude that 1% is not a psychological line, and bulls will have more confidence in the marketization of the RMB.

With the support of China's economy, this matter almost balances out the good and bad.

But for people in the financial circle, it is very different. Apart from the possibility of unlocking some shackles, what everyone can see is an momentum. The momentum of a great country, worthy of anyone, has great influence on its own currency. The spirit of confidence.

This is very important and will make the market psychology slightly biased towards the RMB. As long as it withstands this impact, the status of the currency will be improved.

Lei Hao thought about it, and while he was excited, he had a bad premonition.

"If Mother Yang does this, will it... increase the amount of energy?" Lei Hao thought to himself, and then he felt his phone vibrating.

When I picked it up, I saw it was Qin Yu.

After answering the phone, the next call came in. After the second call, it was the third call...

All the institutions that held a video conference in the conference room yesterday called and briefly explained their determination to enter the market. It seems that the central bank's market-oriented signal has been recognized by everyone.

Thinking about it, the Chinese market is a huge market. At this time, if there is a chance of winning, everyone is still willing to show off their faces and express their closeness.

Of course, everyone knows that the expression of this attitude is indispensable for Lei Hao's opinion. If he hadn't said that he could win, the old fritters like Keda and HSBC would not dare to enter the market now. They would definitely have to wait and see.

And even with this premise, Lei Hao is very clear that there is still a huge amount of capital in the market that is bearish on the RMB, and the United States does not want other countries to engage in de-dollarization.

9:30.

A-shares opened at 50 points in the green and plummeted 100 points within half an hour, retreating directly to around 4150. The volume was shrinking, and there was almost no trading order. However, due to the large number of short-selling positions yesterday, everyone knew that there was support below, and the collapse The trend will be stabilized.

Sure enough, starting from 4100 points, buying orders began to appear one after another. The psychological state of market participants was reversed, and everyone felt confident.

10 o'clock sharp.

The offshore RMB exchange rate directly broke through 6.8 at 9:30, rushing towards 6.85, impacting the psychological price of this market.

The stock market and foreign exchange market have also formed a chain reaction. Coupled with the increasing expectations for the appreciation of the external US dollar, the general decline of Asia-Pacific stock markets, and the implementation of China's financial marketization, it seems that the entire Asian financial market is experiencing violent fluctuations, with the largest amplitude being In the RMB offshore market and A-share securities market.

There are also the weirdly high interest rates in the Shanghai interbank lending market. Anyone who is a financial practitioner, no matter how stupid they are, knows that the war has begun, and the center of the battlefield is Asia, China, and the RMB market.