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        The RMB exchange rate shocks people "panic" long queues to buy dollars

        Date:16.01.15

        2016 years, the RMB exchange rate volatility, which makes some people a little flustered". Recently, the reporter visited a number of bank outlets, found that many outlets are lined up.
        "The old RMB devaluation, but financial product revenue is not high, does not change the dollar value." After discussion and his wife, Mr. Zhang yesterday also joined the "foreign army". Reporter Cai Jun
        As for $20 thousand, than last year an extra 8700 yuan
        China authorized foreign exchange trading center announced the people's Bank of Chinese, January 14, 2016 the interbank foreign exchange market, the RMB exchange rate is $1 for 6.5616 yuan. And $1 in January 4th to RMB 6.5032 yuan, less than 10 trading days, the RMB exchange rate against the dollar fell 584 basis points. If the first trading day of 2015 to date, the RMB exchange rate against the U.S. dollar fell to 7.1%.
        Depreciation of the RMB against the U.S. dollar, means for matching to spend more rmb. Similarly for $20 thousand, compared with 10 days before yesterday for the change, it is to spend more than 1000 yuan, and in January 5th last year (the same day the central parity of RMB 6.1248 yuan for 1 yuan), compared to spend 8736 yuan.
        Take the idle 300 thousand to buy dollars, two months earned more than 1
        With the dollar fall, and foreign exchange swap Bank Advisory people have sprung up. The day before yesterday at noon, the reporter went to the Yinzhou Higher Education Park, a branch of the business, the lobby manager suggested that reporters take the number may wish to go back to do business, the original 18 people waiting for the business.
        "There are 5 customers waiting in the business hall, because we have to wait a long time, there are 13 to go out to eat or go shopping." Lobby manager said with a wry smile, "in the past few days of our bank staff busy busy, from 9 a.m. to 5 p.m., almost the moment idle down."
        These ten people, seven or eight are to purchase foreign exchange. "The holiday is approaching, at the beginning of each year are rush to purchase, some members of the public to travel abroad, to visit relatives, have to convert RMB into foreign currency, also study should be prepared in advance next year's tuition and other, but the most important is the devaluation of the renminbi is expected, a lot of people to purchase foreign exchange is in fact out swap value considering."
        The lobby manager got to purchase Mr Chen's identity. I was last year in early 11 to listen to an entrepreneur friend's advice to buy dollars, I took out the idle 300 thousand yuan, when the 1 U.S. dollars for the RMB is about 6.3 yuan, a total of more than 4.7 dollars to exchange." Mr. Chen said, now it seems that this choice is quite sensible, earn more than 1 dollars in two months.
        The $50 thousand personal purchase of foreign exchange quota adjustment, large amount to make an appointment
        The dollar public, bank dollar also a bit tight. Reporters from the Bank of China, China Construction Bank, China Merchants Bank and other residents of foreign exchange business volume larger banks understand that for a one-time purchase of $5000 or more demand, some bank branches requires at least two days in advance booking in advance, individual banks even beyond $1000 will need to make an appointment.
        Recent reports on recent restrictions on foreign exchange banks "rumors, also caused some public concern. The media said, "personal foreign exchange reservation, or about $5000 per day limit". In this regard, the State Administration of foreign exchange on 13 public rumor, said the report is inconsistent with the provisions of the current foreign exchange management.
        The foreign exchange bureau said that the individual purchase and payment of foreign exchange policy has not changed, as individuals and in the past, do not provide proof materials only by my ID card per person per year can buy the equivalent of US $5 million in foreign exchange. The foreign exchange bureau also said that part of the bank for foreign currency cash equipment notes consider, to customers after the purchase to extract more than a certain amount of foreign currency cash prior reservation request, is a normal commercial behavior, not foreign exchange management policy requirements.

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