多边汇率上扬 三大人民币汇率指数创逾半年新高

Core Viewpoint - The recent performance of the Renminbi (RMB) against a basket of currencies indicates a robust upward trend, with all three major RMB indices reaching new highs since April 2025, reflecting the currency's strength against non-USD currencies and suggesting stability at a reasonable equilibrium level [1][2]. Group 1: RMB Index Performance - The CFETS RMB Index, BIS currency basket RMB Index, and SDR currency basket RMB Index have all shown significant increases, with the CFETS index rising by 0.48% since the end of October, marking a nearly seven-month high [2]. - The RMB's strength against multiple currencies, particularly the South Korean Won and New Zealand Dollar, has been notable, with appreciation exceeding 1% [2]. Group 2: RMB Against USD - The RMB's exchange rate against the USD has remained stable, fluctuating within a narrow range of 7.10 to 7.14, despite a strengthening USD index [4]. - Factors such as a recovering domestic capital market, expectations of Federal Reserve interest rate cuts, and stable foreign trade surplus are contributing to the RMB's resilience [4]. Group 3: Future Outlook - The People's Bank of China emphasizes the importance of maintaining RMB stability at a reasonable equilibrium level, with expectations for the RMB to continue a strong performance due to year-end settlement demands and a solid economic foundation [5]. - Analysts predict that the RMB will maintain a strong bias in the short term, with ongoing attention needed on USD trends and RMB middle rate adjustments [5].