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The Bank for International Settlements (BIS) recently announced that the real effective exchange rate index for October dropped 0.08 percent to 121.06, the lowest in two years, up 0.32 percent from last month.

October nominal RMB exchange rate index ended ten losing streak, rose 0.23% to 117.22, down 0.10% last month.

According to statistics released by the BIS, the nominal effective exchange rate fell 7.07% this year, the real effective exchange rate is down 6.90% cumulative; last year the real effective exchange rate of RMB rose 3.93%, nominal effective exchange rate rose 3.66%, are now six years.

Since the real effective exchange rate is inflation-adjusted, the nominal exchange rate rose in October, while the real exchange rate decline, indicating that China's current overall inflation level is lower than comparable countries, inflation levels.

CPI and food prices rose year-on-year growth, driven by China's October CPI back to the "2 era", and hit a six-month high; PPI in commodity prices rose to accelerate the rise, up nearly five-year high. Inflation expected to maintain a modest increase in short-term trend, but not enough to constitute a significant interference in monetary policy.

China's foreign exchange trading center announced the BIS weight of the RMB exchange rate index edged up 0.34% in October to 95.07, down 0.31% last month.

In 2014, both the nominal and real effective exchange rate of RMB rose to 6.4% from 2013. In 2013, they both appreciated by 7.9% and 7.2% respectively, up significantly from 2.2% and 1.7% in 2012.

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