The onshore and offshore RMB exchange rates against the US dollar continued to fall sharply. On September 28, the RMB exchange rate against the US dollar continued to decline. As of press time, both onshore and offshore RMB have fallen below the 7.2 mark against the US dollar. Am

onshore, offshore RMB exchange rate against the US dollar continued to fall sharply.

htmlOn September 28, the RMB exchange rate against the US dollar continued to decline. As of press time, both onshore and offshore RMB have fallen below the 7.2 mark against the US dollar. Among them, the onshore RMB hit a low of 7.2300, and the offshore RMB hit a low of 7.2272 against the US dollar, both falling by more than 400 points during the day.

Earlier, according to data from the China Foreign Exchange Trading Center, the RMB mid-price against the US dollar was 7.1107, down 385 points, hitting a new low since June 2, 2020.

Since the beginning of this year, the RMB against the US dollar has fallen by 11.53%. On the other hand, the dollar index continues to rise, and as of press time, it was 114.63, continuing to hit a new high in 20 years. After the mid-price was released, the offshore RMB exchange rate against the US dollar, which more reflects the expectations of international investors, fell below the 7.2 mark, and then further fell below the 7.21 and 7.22 marks, falling by more than 400 points during the day. As of press time, the lowest was as low as 7.2279.

Since the beginning of this year, the RMB exchange rate against the US dollar has fallen by 13.4% in the offshore market of .

RMB exchange rate against the US dollar is also weak in the onshore market.

At 9:30 on September 28, the spot exchange rate of RMB against US dollar opened at 7.1800, and then fell below the 7.20 mark, down more than 400 basis points from the previous day. Wind data shows that this is the first time that it has fallen below this mark since February 2008.

( China Securities Network , Pengpai News )

(Source: New Yellow River Client)

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