ANALYSIS OF MACROECONOMIC FACTORS THAT AFFECT THE CHANGE OF RMB EXCHANGE RATE

Abstract

In the context of economic globalization, the RMB exchange rate changes in the world's economy has brought more and more impact, So many people are beginning to pay attention to the Renminbi exchange rate issue. With the rapid development of China's economy, RMB exchange rate is on the rise. This paper analyzes the influencing macroeconomic factors of the RMB exchange rate in the past few years, and then summarizes the influencing factors of the RMB exchange rate, including the interest rate, the GDP growth rate, the growth rate of China's trade balance, and the inflation rate. In this research, the researcher are using ,Multiple Regression model approach and to find the model that represent the formula and do a T-test to get the level of significant，do a F-test to determine the significant for all factors towards RMB exchange rate. And then use SPSS MODEL to verify the relationship between these factors and the RMB exchange rate. Finally, it gives the policy suggestion of RMB exchange rate regulation and the forecast of the trend of RMB exchange rate development.