新华财经上海7月21日电 中国外汇交易中心公布数据显示，7月18日当周三大人民币汇率指数全线上涨，CFETS人民币汇率指数报96.14，按周涨0.54；BIS货 币篮子人民币汇率指数报101.8，按周涨0.64；SDR货币篮子人民币汇率指数报90.9，按周涨0.38。 中金公司分析师表示，上周美元指数延续此前的反弹趋势，但升幅较为温和，且近四周仍录得下跌，市场对美元的看涨情绪有限。人民币对美元仅小幅走 弱，在主要货币中表现靠前。 分析师普遍认为，近期观察到人民币中间价依旧在继续调升，表明央行或在持续引导人民币温和升值，预计短期内人民币走势维持韧性。从人民币外部环境 来看，美国方面表示中美谈判进展良好，继续释放关于关税的温和信号。从内部环境来看，上半年中国经济呈现出较强韧性和活力。 中国人民银行副行长邹澜近期指出："中国不寻求通过汇率贬值获取国际竞争优势。人民银行的汇率政策立场是清晰和一贯的，将继续坚持市场在汇率形成 中的决定性作用，保持汇率弹性，同时强化预期引导，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"。 | 指数名称 | 当日指数 | | --- | --- | | CFETS人民币汇率指 ...

Currency Exchange Rates - The CFETS RMB exchange rate index fell to 96.2, down 0.5% week-on-week; the BIS RMB exchange rate index dropped to 101.79, down 0.57%, marking a new low since September 2023; the SDR RMB exchange rate index decreased to 91, down 0.42% [1] - The onshore RMB against the USD closed at 7.1895, up 142 basis points for the week, reaching a new high since November 8 of the previous year; the offshore RMB against the USD rose by 376 basis points, closing at 7.1722 [1] Economic Indicators - The U.S. 20-year Treasury bond auction results were poor, with a bid-to-cover ratio dropping to 2.46, the lowest since February of this year; the yield reached 5.047%, marking the second time it exceeded 5% [3] - The Eurozone's composite PMI fell to 49.5, indicating economic contraction, with the services PMI dropping to 48.9, the lowest since January 2024 [4] Foreign Investment and Trade - In April 2025, foreign capital net purchases of domestic bonds reached $10.9 billion, indicating a high level of foreign investment; foreign investment in domestic stocks turned into net buying in late April [2] - China's trade with Central and Eastern European countries reached 329.68 billion yuan in the first four months of this year, a year-on-year increase of 5.6%, setting a historical high for the same period [6] Monetary Policy - The People's Bank of China announced a simultaneous decrease in loan and deposit rates, with the one-year and five-year LPR down by 10 basis points to 3.0% and 3.5%, respectively [7] - The PBOC will conduct a 500 billion yuan MLF operation to maintain liquidity in the banking system, resulting in a net injection of 375 billion yuan for the third consecutive month [7]

Currency Exchange Rates - The three major RMB exchange rate indices all rose in the week of May 16, with the CFETS RMB index at 96.7, up 0.17% week-on-week; the BIS currency basket RMB index at 102.36, up 0.2%; and the SDR currency basket RMB index at 91.42, up 0.31% [1][2] - The onshore RMB against the USD closed at 7.2103, appreciating by 358 points or 0.49% for the week, while the offshore RMB closed at 7.2098, appreciating by 304 points or 0.42% [5] - The RMB's middle rate against the USD was reported at 7.1938, with a cumulative increase of 157 points or 0.22% for the week [5] Market Analysis - Analysts noted that the recent US-China trade talks led to significant consensus, providing support for the RMB exchange rate, while the middle rate remained relatively stable [5] - The RMB's depreciation pressure has significantly eased, and further appreciation will depend on future policy guidance [6] - Changes in exporters' foreign exchange settlement behavior will be crucial for the RMB exchange rate, as companies have retained substantial high-interest USD deposits [6] International Credit Ratings - Moody's downgraded the US sovereign credit rating from Aaa to Aa1 due to increased government debt and interest payment ratios, marking a loss of the highest rating across all three major international credit rating agencies [7] Economic Indicators - The US consumer confidence index for May was reported at 50.8, below expectations of 53.4 [7] - The US April PPI year-on-year rate was 2.4%, slightly below the expected 2.5% [7] Financial Policies - The Chinese government has introduced new policies to accelerate the construction of a technology finance system, focusing on venture capital, monetary credit, capital markets, and technology insurance [9] - The China Securities Regulatory Commission has revised the major asset restructuring management measures for listed companies, introducing several new regulatory frameworks [10]

Currency Exchange Rates - The three major RMB exchange rate indices all declined in the week of April 30, with the CFETS RMB index at 96.20, down 0.09% week-on-week; the BIS currency basket RMB index at 102.09, down 0.16%; and the SDR currency basket RMB index at 90.44, down 0.03% [1][2] RMB Performance - On April 30, the onshore RMB closed at 7.2633 against the USD, appreciating by 199 basis points or 0.27% for the week; the offshore RMB closed at 7.2113, appreciating by 776 basis points or 1.06% for the week [5] - The appreciation of the RMB reflects increased market demand and the impact of USD index fluctuations, as the weakening US economic recovery reduces the dollar's attractiveness [5] Economic Indicators - In April, the onshore RMB depreciated approximately 0.2%, while the CFETS index fell about 2.8%, and the RMB central parity rate was adjusted up by 0.32% [5] - The RMB's future performance is expected to be influenced by the direction of the USD index and trade policies, with a moderate strengthening outlook [6] Trade Relations - Recent responses from the Ministry of Commerce regarding Sino-US trade dialogue suggest a softening stance from the US on tariffs, which has contributed to the recent strength of the offshore RMB [6] - The upcoming RMB exchange rate movements will depend on the progress of Sino-US trade negotiations and the USD's performance, with potential for volatility [6] Consumer Market Trends - During the "May Day" holiday, key retail and catering enterprises reported a 6.3% year-on-year increase in sales, with significant growth in sales of home appliances, automobiles, and communication equipment [7] - The transportation sector saw a cumulative flow of 1.467 billion people during the holiday period, reflecting an 8.0% year-on-year increase [7] Automotive Industry - New energy vehicle manufacturers reported significant growth in April deliveries, with NIO delivering 23,900 vehicles (up 53%), XPeng 35,045 vehicles (up 273%), and Li Auto 33,939 vehicles (up 31.6%) [9] Economic Policy Developments - The National Development and Reform Commission announced measures to stabilize employment and promote high-quality economic development, including the establishment of a childcare subsidy system and support for service consumption and the elderly care industry [8]