On September 16, after the offshore market broke the "7" yesterday, the RMB exchange rate against the US dollar also fell below the "7" integer mark in the onshore market, the first time since August 2020. Since the beginning of this year, the RMB exchange rate against the US dol

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htmlOn September 16, after offshore market broke "7" yesterday, the RMB exchange rate against the US dollar also depreciated the integer mark of "7" in the onshore market, to a low of 7.0188, and continued to hit a new low in more than two years.

Since the beginning of this year, the RMB exchange rate against the US dollar has fallen by 9.8% in the onshore market, and the RMB mid-price against the US dollar has fallen by 8.7%. In 2022, the RMB exchange rate against the US dollar has experienced two rounds of depreciation. The current round of RMB exchange rate decline began on August 15 when the central bank lowered the medium-term lending facility (MLF) interest rate. At the same time, the US dollar index continued to set new highs in 20 years.

After the exchange rate of offshore RMB against the US dollar fell below the "7" mark on the evening of September 15, before the onshore market opened on September 16, State Administration of Foreign Exchange said that according to comprehensive data, the RMB exchange rate performed stably among major currencies around the world.

According to CCTV News , Ding Zhijie, director of the Foreign Exchange Research Center of the State Administration of Foreign Exchange, said that if we look at it in the past year, (RMB) is far better than the currencies of most developed countries and emerging market countries. Our exchange rate basically maintains a stable state, whether from the perspective of supply and demand in the foreign exchange market, or from the exchange rate level and exchange rate trend.

The State Administration of Foreign Exchange stated that my country is unswervingly expanding the high-level opening up of the financial market to the outside world and continuously expanding the depth and breadth of foreign exchange market transactions. In August, the situation of overseas investors in domestic bonds and stock markets continued to improve, and RMB assets were favored by overseas capital.

has been released as of September 16. Since the beginning of this year, the RMB against the euro has appreciated 3.85%, the RMB against the Japanese yen has appreciated 12.37%, the RMB against the pound has appreciated 7.37%, the RMB against the New Zealand dollar has appreciated 4.7%, the RMB against the Australian dollar has depreciated slightly by 0.69%, and the Canadian dollar has depreciated 4.95%.