What is the current exchange rate?
The global foreign exchange market has experienced frequent fluctuations recently, and exchange rate changes have become the focus of attention of investors and ordinary people. The following is a compilation of hot topics and hot content in the past 10 days (as of October 2023), combined with current exchange rate data to provide you with structured analysis.
1. List of major global currency exchange rates
| currency pair | current exchange rate | Fluctuation range in the past 10 days |
|---|---|---|
| USD/CNY | 7.30 | +0.8% |
| EUR/USD | 1.06 | -1.2% |
| GBP/USD | 1.22 | -0.5% |
| USD/JPY | 149.50 | +2.1% |
| AUD/USD | 0.63 | -1.8% |
2. Popular events affecting exchange rates
1.Fed rate hike expectations: The market generally predicts that the Federal Reserve will raise interest rates again in November, causing the U.S. dollar index to strengthen and non-U.S. currencies to come under pressure.
2.China economic data released: China's September PMI returned to the expansion range, and the RMB exchange rate stabilized in the short term, but the interest rate gap between China and the United States still puts pressure on the exchange rate.
3.geopolitical conflict: The escalation of the Palestinian-Israeli conflict triggered risk aversion, and gold and the US dollar became safe havens for funds.
4.Bank of Japan policy adjustments: The Japanese yen exchange rate continues to weaken, and the market is paying attention to whether the Japanese government will intervene in the foreign exchange market.
3. Analysis of major currency trends
| Currency | supporting factors | stress factors |
|---|---|---|
| US Dollar (USD) | The Fed’s hawkish stance and safe-haven demand | Government debt problem, economic recession risk |
| Chinese Yuan (CNY) | Signs of economic recovery, trade surplus | Capital outflow pressure, interest rate differential between China and the United States |
| Euro (EUR) | ECB interest rate hike expectations | Economic weakness, energy crisis |
| Japanese Yen (JPY) | Oversold rebound possible | Bank of Japan's easing policy |
4. The impact of exchange rate on economic life
1.Import and export trade: RMB depreciation is beneficial to export companies, but increases import costs.
2.Study abroad and travel: The strengthening of the US dollar has increased the cost of studying and traveling in the United States, while traveling to Japan is relatively cost-effective.
3.Cross-border investment: Exchange rate fluctuations have increased the uncertainty in the returns of cross-border investment products such as QDII.
4.corporate financial report: Enterprises with foreign currency assets or liabilities will face the impact of exchange gains and losses.
5. Expert opinions
Many economists said that the U.S. dollar may remain strong in the short term, but in the medium to long term, as the Fed's interest rate hike cycle comes to an end, pressure on non-U.S. currencies is expected to ease. It is recommended that enterprises and individuals take appropriate exchange rate hedging measures based on their own needs.
6. Exchange rate inquiry suggestions
If you need to obtain real-time exchange rates, you can refer to the following authoritative channels:
| channel | Features |
|---|---|
| People's Bank of China | official mid price |
| Official websites of major banks | Real-time quotation |
| Forex trading platform | Market real-time quotes |
| financial media | Analysis and interpretation |
Exchange rates change rapidly. It is recommended to pay attention to the information released by authoritative institutions and make reasonable decisions based on your own actual situation. For enterprises and individuals with large foreign exchange needs, they may consider locking in exchange rate risks through tools such as forward foreign exchange settlement and sales.
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