Chapter 540: A Slap to the Head 5
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If the day's surge in the renminbi was due to the PBOC's increase in the overnight lending rate in the offshore market, it is not clear to anyone who can explain the fact that the renminbi continued to rise in the next four trading days without any intervention from the central bank's traders.
On the 27th, the offshore exchange rate of RMB rose by 140 basis points, and the offshore RMB rose by 166 basis points on the day of gain, and rose by 185 basis points, or 029%; On September 1, it rose by 252 basis points, or 039%.
The renminbi has risen for five consecutive trading days, with a cumulative increase of 143%, not only moving away from the red line of 65, but also only one step away from the 64 line and returning to the range of 63.
Don't underestimate this 143 percentage point gain, if this kind of fluctuation occurs in one trading day, it is enough to make institutions that do the wrong thing lose a lot. A leverage of 50x means a loss of more than 70%, and a leverage of 100x means liquidation, which is very common in the forex market.
This increase has not only puzzled the central bank's traders, but also stunned some people with ulterior motives.
"Are you sure?"
In a private tea house outside the Third Ring Road in Yanjing, the teacup that Li Bin picked up had already been brought to his mouth, and when he heard the words, he put it down again, twisted his two thick black eyebrows and asked, "In the past few days, have you really done nothing?" ”
"It's true!"
Sitting across from Li Bin was an emaciated young man, between twenty and thirty years old, with a pale face that had been a little pale because of a long-term lack of exercise. At this time, he picked up a cup of tea, poured it all into it as soon as he tilted his head, wiped his mouth before continuing, "If you don't believe it, you can find someone else to confirm it, and you will know whether what I said is reliable." The kid surnamed Zhong hasn't moved at all in the past few days, I just can't figure out why the exchange rate has risen so much. ”
"It's strange, the exchange rate has risen without doing anything?"
Li Bin tapped lightly on the table and said thoughtfully, "Could it be that the international bears automatically retreated when they heard the news that he was in charge?" This is clearly unlikely. But if that's not the case, how can this kid go up without doing anything, this ...... What the hell is going on? ”
"I said Assistant Li, don't think so much, isn't it a good thing to go up?"
The young man picked up a piece of dim sum and swallowed it in a few gulps, then squinted his eyes and said, "You don't need to spend a penny of foreign exchange from the state, you can't find this kind of good thing with a lantern." By the way, Assistant Li, why are you asking about this? ”
"This ......"
Li Bin was taken aback, suddenly woke up from his contemplation, and immediately explained with a smile, "Actually, I asked this selfishly, and I'm really embarrassed to say it, haha." ”
He snorted, he didn't want to continue, but when he saw the other party's reluctant eyes, he had to speak: "Speaking of my position as an assistant, it's a bit out of reach." Even though I do the job of vice president, I don't have the title of vice president, which is a bit embarrassing. So I'm going to learn a little bit more in this limited time, and I'm going to be promoted in the future, right? ”
"In the past, I presided over the work of rescuing the city, although it was a small achievement, but now you have seen what the situation is."
He rubbed his hands together, and a look of embarrassment appeared on his face, "I can't prove myself with that score alone, so I have to find another way." Although Zhong Shi is presiding over the work this time, if I can learn even a little bit from him and use it in my actual work in the future, maybe it will become my capital for promotion in the future. ”
"I see."
Regarding Li Bin's explanation, the trader didn't delve too deeply, but nodded silently, "But Assistant Li, this guy Zhong Shi is cunning." Don't talk about you, even those of us who are usually with him can't figure out what he's thinking. I see, you want to get something out of him, it's hard, it's too hard. But that's fine, we can't do it all day long, and we can't do it if we don't do it, this kind of life is really difficult. ”
"By the way, I'm full, thank you for your hospitality."
Just as Li Bin was explaining to himself, the trader had already swept away all the pastries and snacks on the table. patting his swollen belly, he smiled and said to Li Bin, "If it's okay, I'll leave first." When these things are over, I'll get a full strategy report for you, and then I'll see how Zhongshi operates. ”
"Okay, that's it!"
Li Bin, who was nervous, suddenly felt at ease in his heart after hearing his words, and said with a smile, "Okay, you can go busily." ”
As the assistant to the governor of the central bank, if he wants to be promoted, he must be recognized by Governor Jin, so Li Bin has to make a move, at least that's what the trader thinks.
It's just that where did he think that Li Bin had already become corrupt and degenerate, and became one of the senior compradors of foreign-funded institutions in China. In addition to collusion with foreign hedge funds, he also colluded with Xu Fei and others. What he said today will soon be leaked by Li Bin to foreign hedge funds.
As soon as the trader left, Li Bin on this side couldn't wait to dial the satellite phone.
"Dear Lee, you've finally called!"
As soon as the phone was connected, a hoarse male voice could be heard from the other side, and he could only be heard saying in fluent British English, "Thank God, I finally got your news." Li, is all this the work of the central bank in China? ”
"Carl, how's your situation there?"
Li Bin frowned, and instead of answering, he asked, "What happened?" Why is your voice getting so weird? ”
"I lost nearly half of my position, and I was almost fired by my boss!"
As soon as the man named Carl heard this, he immediately poured out bitter water, "Originally, according to our strategy, we should have knocked down the yuan to about 66 within this week. But Huaxia Central Bank suddenly intervened, so that in just five trading days, my position lost half of the value out of thin air, and if this happened in one day, I am afraid I would have gone bankrupt long ago. God, this is terrible! ”
He still has lingering palpitations about what has happened in the past five trading days.
According to their plan, they will stop after earning 50% profit in these five days. But just as they were massively increasing their positions, the renminbi suddenly rose, and it rose for five consecutive days. If it hadn't been for the timely adjustment of their positions on the third day, I am afraid that they would have been liquidated by now.
After studying the fundamentals and related news several times, these people are still puzzled, and in the end they can only attribute this anomaly to the intervention of the Central Bank of China.
"I said Carl, you were wrong this time, and you were very wrong!"
Li Bin said solemnly, "As far as I know, this time the central bank of Huaxia did not make a move, and it has not bought a single dollar, haven't you thought about it?" ”
"What, how is this possible?"
Carl on the other end of the line could barely believe his ears, and after asking again and again, he exclaimed, "Oh, my lord, what the hell is going on?" How could this not be done by the Huaxia Central Bank? Can anyone tell me what the hell is going on? ”
"Neither your lord nor any other god will tell you what is going on."
Li Bin, who had long known Carl's possible performance, was not surprised, but showed a narrow smile here, and joked, "But I have an answer, which may be closer to the truth, but I don't know if you want to hear it?" ”
"Listen, of course I want to hear it!"
"If we don't know what the hell is going on, we don't know what to do." So Lee, if you have any news about it, be sure to let us know! ”
"It's not impossible to tell you, but this news is not gratuitous, and the price may be more expensive."
Li Bin, who had confirmed that he had played with Carl in the palm of his hand, had a smile on his face even more at this time, "Of course, I can't guarantee the authenticity of this news." If you don't think the news is worth it, then I didn't say it. ”
"Half a million euros!"
Hearing this, Karl didn't understand what the other party thought, and immediately offered a price without hesitation, "The price is five times higher than the usual news, I believe this price should be able to satisfy you, right?" Li, considering our previous cooperation, this price is enough to show our sincerity, right? ”
"Oh my God, how much position have you accumulated in the RMB market?"
In normal trading, these hedge fund guys are generally only willing to pay 100,000 euros, which is still the largest amount, and sometimes they are only willing to pay 50,000 euros for some unimportant news, and they only make an offer after hearing the news. Now without waiting for Li Bin to say the news, they took the initiative to offer a high price of 500,000 euros, which couldn't help but make Li Bin realize a problem, that is, these guys have bet heavily on the foreign exchange market.
"This ......"
After hesitating for a long time, Carl finally didn't say anything, "You don't care, tell me your news!" ”
"Maybe you don't know it, but the person in charge of foreign exchange business now is Zhong Shi. Yes, it's the bell stone you know. ”
Li Bin was not worried that the other party would not pay, and immediately whispered, "However, in the past five days, he has not used his foreign exchange reserves." The initial rise may be due to the overnight lending rate, but it is not the case in the later stage. Personally, I think the biggest possibility is that Zhongshi's Tianyu Fund is involved. ”
"What's going on?"
Carl was a little confused, "Are you saying that the current rise is because of the intervention of the Tianyu Fund?" ”
"You don't understand this?"
Li Bin was stunned for a moment, and then realized that it was indeed difficult for foreigners to understand the doors, and immediately patiently explained, "Zhong Shi's idea is that they will eat the long RMB in the offshore market in advance, and then wait for the right time for the central bank to make a move, and then they can get the corresponding profits in a grand manner." ”
"If I'm not mistaken, they should have hoarded a lot of money in the spot market as well. When Zhong Shi in charge made a move, they shipped the two markets together, and they could at least earn tens of billions of profits. not only restored the renminbi to its original level, but also made a large profit, his abacus was too shrewd. ”
Speaking of this, he couldn't stop sneering.
What Li Bin said is indeed a possibility, but he completely spends the belly of a gentleman with the heart of a villain. This matter is not only the employees of Tianyu Fund, but even Jiang Shan, who has the closest relationship with Zhong Shi on weekdays, does not know that Zhong Shi has been in charge of foreign exchange affairs in the central bank, let alone cooperate with Zhong Shi.
"That'...... So what to do? ”
Carl was a little confused, and thought silently for a long time before he understood, but another problem appeared, "If you talk about financial resources alone, I'm afraid that a dozen of us together are not the opponents of the Tianyu Fund, so do you just admit defeat and leave?" ”
"Hey, I said, why are you so stupid?"
Seeing that the other party still didn't understand, Li Bin couldn't help but be a little angry, and immediately reprimanded the other party unceremoniously, "Won't you spread this news, so that there is an interest relationship between Tianyu Fund and Zhong Shi, and it will be difficult for him to use the country's money to transfer the benefits of his own fund, so that the RMB exchange rate will naturally fall in response." ”
"And as long as Zhong Shi is in power for one day, this interest relationship is not clear, and the exchange rate of the yuan may fall."
He continued, "I'm afraid you'll all wake up laughing in your dreams!" (To be continued.) )
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