100美元 713.22人民币 100欧元 836.86人民币 100日元 4.8563人民币 100港元 91.108人民币 100英镑 969.22人民币 100澳元 465.65人民币 100新西兰元 424.48人民币 100新加坡元 557.51人民币 100瑞士法郎 885.75人民币 100加元 517.6人民币 100人民币113.1澳门元 100人民币58.851马来西亚林吉特 100人民币1116.04俄罗斯卢布 100人民币246.27南非兰特 100人民币19387韩元 100人民币51.358阿联酋迪拉姆 100人民币52.467沙特里亚尔 100人民币4717.6匈牙利福林 100人民币50.847波兰兹罗提 100人民币89.2丹麦克朗 100人民币133.56瑞典克朗 100人民币142.37挪威克朗 100人民币571.353土耳其里拉 100人民币261.99墨西哥比索 100人民币453.25泰铢 【纠错】 【责任编辑:王萌萌】 新华社北京8月18日电 中国外汇交易中心8月18日受权公布人民币对美元、欧元、日元、港元、英镑、 澳元、新西兰元、新加坡元、瑞士法郎、加元、澳门 ...

8月18日，人民币兑美元中间价上调49个基点，报7.1322。8月15日，CFETS人民币汇率指数为96.17，按 周涨0.13。 中国人民银行授权中国外汇交易中心公布，2025年8月18日银行间外汇市场人民币汇率中间价为：1美元 对人民币7.1322元，1欧元对人民币8.3686元，100日元对人民币4.8563元，1港元对人民币0.91108元，1 英镑对人民币9.6922元，1澳大利亚元对人民币4.6565元，1新西兰元对人民币4.2448元，1新加坡元对人 民币5.5751元，1瑞士法郎对人民币8.8575元，1加拿大元对人民币5.1760元，人民币1元对1.1310澳门 元，人民币1元对0.58851马来西亚林吉特，人民币1元对11.1604俄罗斯卢布，人民币1元对2.4627南非兰 特，人民币1元对193.87韩元，人民币1元对0.51358阿联酋迪拉姆，人民币1元对0.52467沙特里亚尔，人 民币1元对47.1760匈牙利福林，人民币1元对0.50847波兰兹罗提，人民币1元对0.8920丹麦克朗，人民币 1元对1.3356瑞典克朗，人民币1元对1.4237挪威克朗，人民币1元对5.71353 ...

近日，人民银行发布2025年第二季度中国货币政策执行报告，强调将坚持以市场供求为基础、参考一篮 子货币进行调节、有管理的浮动汇率制度，坚持市场在汇率形成中的决定性作用，增强外汇市场韧性， 稳定市场预期，坚决对市场顺周期行为进行纠偏，坚决对扰乱市场秩序行为进行处置，坚决防范汇率超 调风险，保持人民币汇率在合理均衡水平上基本稳定。 北京商报讯（记者 刘四红）8月18日，人民币对美元中间价报7.1322，升值49个基点。 截至当日9时33分，人民币对美元汇率报价7.1835，贬值0.02%，离岸人民币对美元汇率报7.1867，升值 0.03%。 ...

中国人民 银行授权中国外汇交易中心公布，2025年8月18日银行间外汇市场人民币汇率中间价为：1美 元对人民币7.1322元，1欧元对人民币8.3686元，100日元对人民币4.8563元，1港元对人民币0.91108元， 1英镑对人民币9.6922元，1澳大利亚元对人民币4.6565元，1新西兰元对人民币4.2448元，1新加坡元对 人民币5.5751元，1瑞士法郎对人民币8.8575元，1加拿大元对人民币5.1760元，人民币1元对1.1310澳门 元，人民币1元对0.58851马来西亚林吉特，人民币1元对11.1604俄罗斯卢布，人民币1元对2.4627南非兰 特，人民币1元对193.87韩元，人民币1元对0.51358阿联酋迪拉姆，人民币1元对0.52467沙特里亚尔，人 民币1元对47.1760匈牙利福林，人民币1元对0.50847波兰兹罗提，人民币1元对0.8920丹麦克朗，人民币 1元对1.3356瑞典克朗，人民币1元对1.4237挪威克朗，人民币1元对5.71353土耳其里拉，人民币1元对 2.6199墨西哥比索，人民币1元对4.5325泰铢。 ...

中国经济网北京8月18日讯 今日，人民币对美元汇率中间价报7.1322，较前一交易日调升49个基 点。 （责任编辑：韩艺嘉） 中国人民银行授权中国外汇交易中心公布，2025年8月18日银行间外汇市场人民币汇率中间价为：1 美元对人民币7.1322元，1欧元对人民币8.3686元，100日元对人民币4.8563元，1港元对人民币0.91108 元，1英镑对人民币9.6922元，1澳大利亚元对人民币4.6565元，1新西兰元对人民币4.2448元，1新加坡 元对人民币5.5751元，1瑞士法郎对人民币8.8575元，1加拿大元对人民币5.1760元，人民币1元对1.1310 澳门元，人民币1元对0.58851马来西亚林吉特，人民币1元对11.1604俄罗斯卢布，人民币1元对2.4627南 非兰特，人民币1元对193.87韩元，人民币1元对0.51358阿联酋迪拉姆，人民币1元对0.52467沙特里亚 尔，人民币1元对47.1760匈牙利福林，人民币1元对0.50847波兰兹罗提，人民币1元对0.8920丹麦克朗， 人民币1元对1.3356瑞典克朗，人民币1元对1.4237挪威克朗，人民币1元对5.71353土耳其 ...

Core Viewpoint - The report highlights the proactive implementation of macroeconomic policies under the leadership of the Chinese Communist Party, resulting in a stable economic performance with a GDP growth of 5.3% year-on-year in the first half of the year, reflecting strong vitality and resilience [1] Monetary Policy Implementation - The People's Bank of China (PBOC) has adopted a moderately loose monetary policy, utilizing various tools to support high-quality economic development and create a favorable monetary environment for sustained economic recovery [1][5] - In May, the reserve requirement ratio was lowered by 0.5 percentage points, injecting approximately 1 trillion yuan into the market, while maintaining ample liquidity through open market operations and other tools [1][3] Financing Costs and Credit Structure - The PBOC has worked to reduce overall financing costs, lowering policy interest rates by 0.1 percentage points and structural monetary policy tool rates by 0.25 percentage points in May, which has led to a decrease in both corporate and personal housing loan rates [2][3] - A total of 500 billion yuan was allocated for consumption and pension refinancing, along with an additional 300 billion yuan for technological innovation and transformation loans, aimed at boosting consumption and innovation [2] Risk Management and Stability - The report emphasizes the importance of risk prevention and resolution, with a focus on monitoring and assessing financial risks, ensuring that the monetary policy's counter-cyclical adjustments are effective [3][4] - By the end of June, the total social financing stock and broad money supply (M2) grew by 8.9% and 8.3% year-on-year, respectively, with the balance of RMB loans reaching 268.6 trillion yuan [3] External Environment and Strategic Focus - The external environment is described as increasingly complex, with weakening global economic growth and rising trade barriers, yet China's economic fundamentals remain strong, with a focus on maintaining strategic determination and advancing modernization goals [4] - The PBOC aims to balance short-term and long-term goals, ensuring stability in employment, enterprises, markets, and expectations while striving to meet annual economic and social development targets [4][5]

Core Viewpoint - The People's Bank of China emphasizes the implementation of a moderately accommodative monetary policy to align social financing scale and money supply growth with economic growth and price level expectations. Group 1: Monetary Policy Implementation - The report highlights the importance of promoting reasonable price recovery as a key consideration in monetary policy, aiming to keep prices at a reasonable level [2] - The central bank aims to enhance the interest rate adjustment framework, strengthen policy interest rate guidance, and improve the market-based interest rate formation transmission mechanism [2] - The report stresses the need to ensure effective transmission of monetary policy, improve fund utilization efficiency, and balance financial support for the real economy with maintaining financial health [2] Group 2: Structural Policies and Support - In May, the People's Bank of China introduced a series of financial policy measures, including structural policy tools, with a focus on supporting service consumption and the elderly care industry with a loan quota of 500 billion yuan [4] - The central bank plans to maintain a supportive monetary policy stance in the second half of the year, focusing on reducing financing costs for businesses and increasing credit accessibility to stimulate domestic demand [4] - Various monetary policy tools, such as reverse repos and medium-term lending facilities, will be utilized to enhance liquidity management in the short to medium term [4] Group 3: Exchange Rate and Financial Stability - The report advocates for a managed floating exchange rate system based on market supply and demand, aiming to stabilize the yuan at a reasonable and balanced level [5] - The central bank will explore expanding its macro-prudential and financial stability functions to maintain market stability and prevent systemic financial risks [5]

Economic Outlook - The International Monetary Fund (IMF) has raised China's economic growth forecast for 2025 from 4% to 4.8%, marking the largest single upward adjustment since 2019, driven by stronger-than-expected performance in the first half of the year with a GDP growth of 5.3% year-on-year [1] - The robust economic performance is attributed to the simultaneous strengthening of domestic demand, exports, and innovation, enhancing economic resilience and providing stability to the Renminbi exchange rate [1] Impact on Renminbi Exchange Rate - Following the IMF's forecast adjustment, the Renminbi has shown a "stable yet rising" trend, with the exchange rate against the US dollar reaching 7.1486 on July 24, a nine-month high, reflecting a cumulative appreciation of 479 basis points since the beginning of the year [2] - The narrowing of the onshore and offshore exchange rate spread to zero indicates converging market expectations, while the fundamentals of the Chinese economy, such as a 5.9% increase in exports and double-digit growth in retail consumption, support the Renminbi [2] Tuition Cost Implications - For studying in the US, if tuition is $50,000, at the July 24 exchange rate of 7.14, the cost in Renminbi would be approximately 357,000 yuan; a 2% appreciation of the Renminbi to 7.0 would reduce costs by about 10,000 yuan, while depreciation to 7.3 would increase costs by 8,000 yuan [3] Tuition Remittance Strategies - A recommended strategy for remitting tuition fees is to exchange in batches, dividing the total amount into 3-4 parts and gradually exchanging when the rate is between 7.14 and 7.20, as historical data shows that the Renminbi often appreciates after initial declines during Federal Reserve rate cut cycles [4] - Utilizing professional cross-border remittance tools can help reduce hidden costs by ensuring low fees, transparent exchange rates, and quick transfers [5] - Monitoring key policy events, such as the Federal Reserve's meeting on September 17 and China's Q3 GDP data release in October, can provide opportunities to capitalize on expected exchange rate movements [6] Cross-Border Remittance Solutions - The Panda Speed Remittance App is designed to optimize the remittance process for students, ensuring compliance and security throughout the transaction [7] - The app offers rapid transfers without using the annual $50,000 facilitation limit, ensuring timely payments to educational institutions [8] - It provides competitive exchange rates with low fees, supporting various payment scenarios for different educational institutions, and simplifies the remittance process through a user-friendly mobile application [8]

北京商报讯（记者 岳品瑜 董晗萱）8月15日，中国人民银行授权中国外汇交易中心公布，当日银行间外 汇市场人民币汇率中间价为1美元对人民币7.1371元，相较前一交易日中间价7.1337元，调贬34个基点。 截至最新发稿时间9时45分，在岸人民币对美元报7.1795，离岸人民币对美元报7.1816，升值0.01%。 ...

Report Industry Investment Rating No relevant content provided. Core Views of the Report - The short - term exchange rate of the US dollar against the RMB is expected to fluctuate within the range of 7.15 - 7.25. The counter - cyclical factor has been activated, and with the regulatory's expectation management, the RMB's short - term buffer against external shocks has increased [36][39]. Summary by Related Catalogs Quantity and Price Observation - The implied volatility curve of the 3 - month US dollar against the RMB option shows an appreciation trend of the RMB, with the put - end volatility higher than the call - end. The volatility of the US dollar against the RMB option has continued to decline, and the market's expectation of the future volatility of the US dollar against the RMB has weakened [4]. - The term structure shows the changes in the premium and discount of the Singapore Exchange's US dollar against the RMB futures, bank forward premium and discount, and the US - China interest rate spread in different time periods [7][8]. Policy Observation - The policy counter - cyclical factor has been activated, and there are fluctuations in the three - month CNH HIBOR - SHIBOR spread [11]. Macroeconomic Analysis US Economy - There is a differentiation in the pricing of interest rate cuts between the US and Europe. As of August 6, the TGA account was 464.3 billion, and the Fed's reverse repurchase balance was 9.196 billion US dollars. Fed Chairman Powell did not give guidance on a September interest rate cut [19]. - The economic expectation has been revised upwards. In July, non - farm data was significantly revised downwards, inflation rebounded, fiscal spending increased significantly, and the economic situation showed marginal support [21]. - Fiscal spending has rebounded, especially in defense, medical insurance, and healthcare [22]. - The employment market in July was significantly revised downwards. The employment performance of the service sector was better than that of the commodity and government sectors, and the hourly wage in July increased by 0.3% month - on - month [28]. Chinese Economy - There is a situation of strong expectation and weak reality. In July, exports and consumption showed resilience, but inflation has not recovered, and there is pressure on fixed - asset investment [29]. - Exports in July exceeded expectations. Financial data was better than expected, with changes in exports to different regions and products [31]. European Economy - The downside risks have been cleared. Economic data is oscillating at the bottom, with the manufacturing and service PMIs in Europe rebounding in July. Inflation is stable, with the eurozone's CPI in July increasing by 2% year - on - year and the core CPI increasing by 2.3% year - on - year [34]. Scenario Deduction - There are different time - based scenarios including the Fed's policy window period, the destocking cycle, tariff impacts, and domestic policy windows [40][41]. Risk Assessment - The range of basis fluctuations: From the historical data from January 2022 to the present, the range of the premium and discount of the futures main contract is between - 1100 and 900 [45].