离岸NDF市场对人民币汇率未来走势的预期

一般性介绍了新型金融衍生工具NDF（Non—deliverable Forwards），分析了人民币NDF市场的发展前景，指出了在人民币走向国际化的过程中，人民币汇率问题不仅是国内管理者和需求者的问题，同时也是关系到国际众多投资者的问题，说明了在考虑人民币的汇率走势时，非交割远期交易汇率具有重要的参考价值。

Offshore NDF Market Expectation of RMB Movement

With a brief introduction of the newly developed financial derivative instrument - NDF (non-deliverable forwards), the author analyses the prospect of the NDF market for RMB and points out that, in approaching its internationalization, RBM's rate of exchange is not only a concern of the Chinese authorities and the users, but also that of the foreign investors. In considering its movement, RMB's exchange rate for forward delivery is of important reference value.