Group 1 - The onshore RMB against the USD opened slightly lower at 7.1267, compared to the previous trading day's close of 7.1246 [1] - The offshore RMB against the USD was reported at 7.13003 as of 9:30 AM [1] - The RMB central parity rate against the USD was set at 7.1048, an increase of 54 basis points from the previous trading day [2] Group 2 - The USD index fluctuated above the 99 mark, reported at 99.3578 as of 9:30 AM [3] - According to a report from Industrial Bank Research, the USD index rebounded as expected after the Federal Reserve's interest rate cut, aligning with historical patterns following preventive rate cuts [3] - There remains significant potential for further USD strength, contingent on economic data, particularly employment figures [3]

Core Viewpoint - The article discusses the recent fluctuations in the onshore and offshore RMB exchange rates against the USD, highlighting the potential for RMB appreciation towards the end of the year due to various economic factors [1]. Exchange Rate Summary - On September 30, the onshore RMB opened at 7.1200 against the USD, slightly up from the previous day's close of 7.1204 [1]. - The offshore RMB was reported at 7.1256 against the USD as of 9:30 AM on the same day [1]. - The central parity rate for RMB against the USD was set at 7.1055, an increase of 34 basis points [1]. Economic Factors - According to a report by China International Capital Corporation (CICC), the key drivers for the RMB exchange rate in October will be the direction of the USD and the stability of exchange rate policies [1]. - There is uncertainty regarding short-term RMB appreciation, but the outlook for RMB appreciation remains strong towards the end of the year [1]. - The expectation of further interest rate cuts by the Federal Reserve may weaken the USD, while seasonal factors could lead the RMB to potentially break below 7.10 and approach 7.0 [1].

Core Points - The onshore RMB against the US dollar closed at 7.1998 in the night session on August 1, marking an increase of 2 basis points compared to the previous trading day's night session [1] Group 1 - The onshore RMB appreciated against the US dollar [1]