After entering December, the RMB changed its fatigue throughout the year. After yesterday's strong recovery of the 6.88 mark, the highest closing price since mid November, the offshore RMB (CNH) continued to rise today, once breaking 6.87 to 6.8688.

The central bank also raised the RMB central parity by 164 points to 6.8794 today, the strongest since November 22. It closed at 6.8949 at 16:30 yesterday and closed at 6.8865 at night.

Since the 811 new exchange rate reform last year, the RMB has entered a long correction Road, and the pressure of capital outflow is also increasing. After trump was unexpectedly elected president of the United States in November, the sharp appreciation of the US dollar increased the downward pressure on the RMB. The onshore RMB depreciated by 1.85% in the month, the lowest since June 2008. However, Yi Gang, vice governor of the Central Bank of China, said in an exclusive interview with Xinhua that the RMB still shows the characteristics of a stable and strong currency in the global monetary system. Although China's foreign exchange reserves have declined recently, they still rank first in the world and are very sufficient.

In fact, recently, the regulatory authorities have issued a series of measures to find and fill the loopholes of non-compliance outflow under the capital account. However, the current policy of individual purchase and payment of foreign exchange has not changed. Next year, domestic individuals can still buy foreign exchange equivalent to US $50000 per year with their ID cards.

Earlier, Sina quoted foreign media sources as saying that after the central bank asked banks to be vigilant about the outflow of funds through the Shanghai free trade zone through false overseas investment, it has issued a document requiring domestic enterprises to implement the macro Prudential Management of the integration of domestic and foreign currencies in their RMB overseas lending business, and asked the handling bank and lenders to control the amount.

CICC said in the research report that the RMB outflow has increased significantly in the past year and has become an important channel for capital outflow. Facing the impact of RMB cross-border flow, the central bank may strengthen the management of RMB outflow and bring it into the macro prudential regulatory framework of domestic and foreign currency integration. This may have a certain short-term impact on the development of the offshore RMB market.

Since May, the deficit of foreign exchange settlement and sales by Chinese banks on behalf of customers has averaged about US $24 billion per month. ANZ said in its report that as it became more and more difficult to purchase foreign exchange on shore, mainland residents transferred RMB abroad for foreign exchange. Therefore, the offshore market will face stronger pressure of RMB devaluation.

Yesterday, Hong Kong's overnight RMB interbank offered rate (HIBOR) rose to a new high of 4.818% in more than two months. In response, the Hong Kong Economic Daily reported that Hong Kong banks raised interest rates to attract RMB deposits.

"If the depreciation rate of RMB is too fast, the market will worry about the sharp depreciation of RMB, which may also bring further impact on the market. Therefore, managed depreciation is still the core goal of the central bank. Therefore, after the recent rapid depreciation, the central bank will consider re managing market expectations." Zhou Hao, senior Asian economist of German commercial bank, said at the information summit.

He believes that the central bank seems to prefer to act in December, because it is easier to act at this time because of the strong holiday atmosphere around Christmas, light trading in overseas markets and small trading volume in the whole disk.