人民币，2024年10月15日以来最高

Core Viewpoint - The recent adjustments in the RMB exchange rate signal a stable outlook, with the RMB appreciating against the USD, reaching its highest level since October 15, 2024, at a midpoint of 7.0881 on October 27, 2023 [1][3]. Group 1: RMB Exchange Rate Trends - The RMB midpoint has shown a continuous upward trend, with a notable increase of 47 basis points on October 27, 2023, indicating a strong performance against the USD [1]. - The onshore RMB opened at 7.1083 against the USD, later stabilizing around 7.11, reflecting a robust market response [1]. - Analysts suggest that the RMB's appreciation is not fully aligned with the significant depreciation of the USD, indicating a potential for further strengthening [3]. Group 2: External Factors Influencing RMB - The RMB's recent strength is attributed to a weaker USD, which has declined by 8.82% year-to-date, despite a slight rebound due to weakness in other currencies like the JPY [5]. - The market anticipates that the USD will continue to weaken in the long term due to expectations of interest rate cuts by the Federal Reserve and concerns over the US fiscal outlook [5]. Group 3: Future Outlook for RMB - Projections for 2026 suggest a moderate appreciation of the RMB, contingent on stable export conditions and supportive domestic fundamentals [6]. - The Central Bank's policies are expected to remain flexible, allowing for adjustments to maintain a stable RMB exchange rate amidst external pressures [6].