The Volatility Of The Exchange Rate Expanded By &Nbsp; &Nbsp; The Influence Of "Hot Money" Was Limited.

From April 16th, interbank spot

Ye Zeheng, senior analyst at global market of Hong Hong investment research department, said that the trade situation improved in March and the possibility of further depreciation of the RMB decreased.

However, whether the export situation can continue to improve is still uncertain. The move to expand the RMB trading range is expected to exacerbate the downward pressure on the renminbi in the short term.

Citibank released a report that the rapid appreciation of the RMB space and power has weakened, but the fundamentals of the economy still support its future appreciation, the renminbi is expected to rise to 1% to 2% against the US dollar during the year.

However, the new policy has not been bad for the domestic capital market.

According to the insiders, the expansion of the central parity price may increase the speculation of the spot market on the one hand, and on the other hand, it may increase the difficulty of judging the exchange rate price when the foreign exchange business is involved.

Zheng Lei (micro-blog), the co - director of international asset management, said, "the expansion of the amplitude has increased the risk of speculation, causing short-term speculators to find that opportunities are less attractive than they used to be."

However, at present, the fluctuation of RMB exchange rate is still small, which has little impact on speculation.

In addition to,

GUI Hao Ming, research director of Wanguo Securities Research Institute, holds different views.

"From the current market situation, the RMB exchange rate has been relatively close to the equilibrium value, and the probability of rational stabilization is increasing."

Gui Haoming said, "with the further promotion of exchange rate reform, the elasticity of RMB two-way floating increases, which may lead to hot money outflow, and may also lead to hot money inflow under certain conditions.

Therefore, the impact of the new exchange rate policy on the stock market can not be simply judged by "good" or "profitable".

Analysts say the flow of capital is not something in the short term. If a single day fall, if there is a sustained trend in the latter market, then