Data from the China Foreign Exchange Trading Center shows that on September 28, the RMB mid-price against the US dollar was 7.1107, a 385 point lower, hitting a new low since June 2, 2020.

2025/04/2118:44:33 hotcomm 1101

Pengpai News reporter Chen Yueshi

onshore and offshore RMB against the US dollar exchange rate continues to fall sharply.

Data from China Foreign Exchange Trading Center shows that on September 28, the RMB mid-price against the US dollar was 7.1107, a 385 point lower, hitting a new low since June 2, 2020.

Data from the China Foreign Exchange Trading Center shows that on September 28, the RMB mid-price against the US dollar was 7.1107, a 385 point lower, hitting a new low since June 2, 2020. - DayDayNews

Since the beginning of this year, the RMB against the US dollar has fallen by 11.53%. After the mid-price was released, the offshore RMB exchange rate against the US dollar, which reflects more expectations from international investors, fell below the 7.2 mark, and then further fell below the 7.21 and 7.22 marks, falling 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.

Source: The Paper

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