The central parity of RMB against Euro, Japanese Yen, Hong Kong Dollar, British Pound, Australian Dollar, New Zealand Dollar, Singapore Dollar, Swiss Franc, Canadian Dollar, Ringgit, Russian Ruble, South African Rand and Korean Won is calculated and determined by China Foreign Exchange Trading Center according to the central parity of RMB against US Dollar on that day and the exchange rates of Euro, Japanese Yen and Hong Kong Dollar against US Dollar in the international foreign exchange market at 9: 00 am.

The situation in Vietnam is really special. Because this country has a large trade deficit, it relies on remittances and direct investment. Compared with Indonesia and Thailand, Vietnam's exports account for more than twice the GDP. Mercantilist thinking hopes that the currency exchange rate will be lower to support exports. The active black market of foreign exchange in some gold shops in Ho Chi Minh City also holds this idea. The latest measures taken by the Central Bank of Vietnam-following the median reduction of the trading range of the Vietnamese dong against the US dollar by 5.4% in October11October, and then by 3.4% in February-have brought the official exchange rate close to the unofficial exchange rate. This is expected to temporarily calm the fluctuations.

Monetary analysis holds that the change of exchange rate is caused by the imbalance of money market, which is caused by many factors: the change of money supply at home and abroad, the change of interest rate at home and abroad, and the change of real national income at home and abroad. These factors finally determine the exchange rate level through their influence on the price level of various countries. The most outstanding contribution of monetary analysis theory is to comprehensively summarize the overshoot phenomenon of real exchange rate under floating exchange rate system.