图说金融：人民币对美元中间价连续调升

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core View - The consecutive upward adjustment of the RMB central parity rate against the US dollar reveals three signals: the central bank guides exchange - rate appreciation expectations through policies, reflecting an adjustment from "stabilizing the exchange rate" to "stabilizing expectations"; it responds to the "anti - involution" policy, as a moderate appreciation of the RMB helps reduce import costs, enhance domestic purchasing power and consumption levels; and it revises up the expected yield of RMB assets and guides enterprises to improve foreign exchange settlement behavior [2][3] 3. Summary by Related Catalog a. Exchange - rate Data - On August 5, the central parity rate of the RMB against the US dollar announced by the China Foreign Exchange Trade System was 7.1366, appreciating 29 basis points compared with the previous trading day's central parity rate of 7.1395. The central parity rate of the RMB against the US dollar has appreciated for two consecutive trading days, reaching the highest appreciation level since November 6, 2024 [3]