The surge in the renminbi was mainly due to the sharp drop in the dollar. The US dollar index 15 continued last week's decline and plunged to 90.57 in a short time, hitting a new low since 20 15 and 1. In the context of the continued plunge of the US dollar index, the exchange rate of RMB against the US dollar rose strongly. On the same day, after the central parity rate of RMB against the US dollar rose sharply, the onshore RMB against the US dollar rose sharply by more than 100 points, breaking through the four barriers of 6.45, 6.44, 6.43 and 6.42 one after another, hitting an intraday high of 6.4 138, a record high of more than two years.
Looking forward to the trend of RMB exchange rate in 20 18, Ke Mei, head of foreign exchange analysis of HSBC, predicted at the Beijing media meeting on May 15 that RMB would remain relatively strong against the US dollar and the overall exchange rate trend of RMB would be more flexible. According to MEK's analysis, the overall prospect of China's economic growth in 20 18 is still promising. Even if the Fed raises interest rates this year, it will not be able to support the dollar. On the whole, the dollar is in a moderate weakening trend. Combined with the exchange rate trends of some other major currencies, especially considering the exchange rate changes of RMB against a basket of currencies, it can be concluded that RMB will remain relatively strong.