Core Viewpoint - The article discusses the recent fluctuations in the onshore and offshore RMB against the USD, highlighting the impact of the Federal Reserve's monetary policy on the dollar's future trajectory [1]. Currency Exchange Rates - On August 20, the onshore RMB opened slightly lower at 7.1865 against the USD, compared to the previous day's closing rate of 7.1820 [1]. - As of 9:30 AM, the offshore RMB was quoted at 7.19168 against the USD [1]. - The RMB's central parity rate against the USD was set at 7.1384, which is a decrease of 25 basis points from the previous trading day [1]. Dollar Index - The USD index was fluctuating above the 98 mark, reported at 98.3926 as of 9:30 AM [1]. Future Outlook - HSBC China indicated that the future movement of the USD will largely depend on the Federal Reserve's monetary policy stance and the potential candidates for the next chairperson [1]. - With the Federal Reserve resuming interest rate cuts, cyclical factors may become more dominant in influencing the dollar's performance [1].

Core Viewpoint - The Chinese yuan appreciated against the US dollar, with the central parity rate reported at 7.1350, an increase of 68 basis points [1] Exchange Rate Summary - As of 9:33 AM on the same day, the onshore yuan exchange rate was quoted at 7.1828, reflecting a depreciation of 0.03% [1] - The offshore yuan exchange rate stood at 7.1867, showing a depreciation of 0.02% [1]

Core Viewpoint - The recent recovery of the RMB against the USD is attributed to domestic economic stabilization and supportive policies, alongside a decline in the USD index, which alleviates depreciation pressure on the RMB [1][2][4]. Group 1: RMB Exchange Rate Recovery - The onshore and offshore RMB against the USD have both recovered above the 6.7 mark, with the onshore rate closing at 6.6737 on May 25, following a low of 6.7898 on May 13 [1][2]. - The RMB's recovery is supported by the gradual easing of local COVID-19 restrictions and the implementation of growth-stabilizing policies, which have boosted market confidence [2][4]. Group 2: USD Index Dynamics - The USD index peaked at over 105 on May 13 but has since declined to around 102, influenced by concerns over a potential U.S. economic recession [4][5]. - Recent economic indicators, such as the New York Fed manufacturing PMI and the Philadelphia Fed manufacturing index, have shown significant declines, indicating downward pressure on U.S. economic growth [4]. Group 3: Market Sentiment and Stability - Market participants are generally rational regarding recent RMB fluctuations, with no signs of panic in the foreign exchange market, reflecting a normal state of market volatility [3][4]. - The RMB's exchange rate is expected to remain stable in the long term, primarily driven by domestic fundamentals, despite short-term fluctuations influenced by external factors [6]. Group 4: Future Outlook - Short-term predictions suggest a wide range of fluctuations for the RMB, influenced by the upcoming Federal Reserve meeting and potential interest rate hikes [6]. - The recent measures by the foreign exchange bureau aim to enhance the management of foreign exchange risks for enterprises, promoting a risk-neutral approach to currency management [7].

Core Viewpoint - The Chinese yuan has depreciated against the US dollar, marking a continuous decline over three days, with the central parity rate reported at 7.1418 on August 12, reflecting a depreciation of 13 basis points [1] Exchange Rate Summary - As of 10 AM, the onshore yuan exchange rate against the US dollar was quoted at 7.1871, showing an appreciation of 0.03% [1] - The offshore yuan exchange rate against the US dollar was reported at 7.1912, indicating an appreciation of 0.07% [1]

Core Viewpoint - The People's Bank of China announced a depreciation of the RMB against the USD, with the central parity rate set at 7.1405 on August 11, down 23 basis points from the previous day's rate of 7.1382 [1] Exchange Rate Summary - The onshore RMB against the USD opened higher on the same day, trading at 7.1830, reflecting a slight appreciation of 0.01% [1] - The offshore RMB against the USD also showed an upward trend, trading at 7.1873, with a daily appreciation of 0.03% [1]

Core Points - The central exchange rate of the Renminbi (RMB) against the US dollar is reported at 7.2116, which represents a depreciation of 42 basis points compared to the previous trading day [1] Exchange Rate Summary - The exchange rates for various currencies against the Renminbi as of April 23, 2025, are as follows: - 1 USD = 7.2116 RMB - 1 EUR = 8.2496 RMB - 100 JPY = 5.1001 RMB - 1 HKD = 0.92950 RMB - 1 GBP = 9.6399 RMB - 1 AUD = 4.6397 RMB - 1 NZD = 4.3492 RMB - 1 SGD = 5.5180 RMB - 1 CHF = 8.7857 RMB - 1 CAD = 5.2550 RMB - 1 MOP = 1.1089 RMB - 1 MYR = 0.60743 RMB - 1 RUB = 11.1609 RMB - 1 ZAR = 2.5691 RMB - 1 KRW = 196.30 RMB - 1 AED = 0.50562 RMB - 1 SAR = 0.51635 RMB - 1 HUF = 49.5844 RMB - 1 PLN = 0.52010 RMB - 1 DKK = 0.9069 RMB - 1 SEK = 1.3255 RMB - 1 NOK = 1.4360 RMB - 1 TRY = 5.26636 RMB - 1 MXN = 2.7085 RMB - 1 THB = 4.6060 RMB [2]

Core Viewpoint - The recent strengthening of the RMB against the USD is attributed to both external and internal factors, including a weakening USD and stable domestic economic performance [1][2]. External Factors - The USD index has been declining since June 19, reaching a low of 96.9923 on June 26, the lowest since March 2, 2022 [2]. - Expectations of interest rate cuts by the Federal Reserve have created a favorable external environment for the RMB [1][2]. Internal Factors - China's economy has shown stable growth, with significant increases in industrial output and retail sales, contributing to the support of the RMB [1]. - New economic drivers such as industrial robots and new energy vehicles are performing well, aiding in the structural transformation and innovation of the economy [1]. - The positive performance of the Chinese capital market has led to increased cross-border capital inflows, further supporting the RMB [1].

北京商报讯（记者 刘四红）8月7日，人民币对美元中间价报7.1345，调升64个基点，创2024年11月6日 来新高。 8月7日，央行以固定利率、数量招标方式开展了1607亿元7天期逆回购操作，操作利率1.40%，投标量 1607亿元，单日净回笼1225亿元。 截至发稿时间9时32分，在岸人民币对美元报7.1822，离岸人民币对美元报7.1846。 ...

Core Viewpoint - The People's Bank of China announced a depreciation of the RMB against the USD, with the central parity rate set at 7.1494, a decrease of 53 basis points from the previous trading day [1] Exchange Rate Summary - The central parity rate for the RMB against the USD on July 31 was 7.1494, down from 7.1441, marking a depreciation of 53 basis points [1] - In July, the RMB appreciated by a total of 92 basis points against the USD [1] - As of 9:40 AM on the same day, the onshore RMB was quoted at 7.1930, reflecting a daily depreciation of 0.02%, while the offshore RMB was at 7.1987, with a daily depreciation of 0.19% [1]

国家外汇管理局副局长、新闻发言人李斌7月22日在国新办新闻发布会上表示，上半年人民币 汇率保持 基本稳定。今年上半年人民币对美元汇率升值1.9%。上半年人民币对美元汇率在7.15到7.35区间双向浮 动，既在合理均衡水平上保持了基本稳定，也发挥了调节宏观经济和国际收支自动稳定器的作用。 ...