内容提要 10月，离岸（CNH）人民币兑美元即期汇率升值，在岸（CNY）人民币兑美元即期汇率升值；日均平均价差（CNY-CNH的绝对值）为51BP，较上月减少 16BP；CFETS人民币汇率指数、参考BIS货币篮子、参考SDR货币篮子的人民币汇率指数分别较上月末上升0.87%、上升1.19%、上升1.13%。离岸人民币 债券发行额较上月减少。CNH HIBOR隔夜、7天、3个月和1年期较上月末分别下降57BP、下降12BP、基本持平和下降5BP。 1、中国香港和台湾地区境外人民币存款 2025年9月，香港和台湾地区离岸市场人民币存款规模较上月增加。其中，香港地区人民币存款规模为10017.71亿元，较上月增加3.5%，台湾地区人民币存 款规模为1199.13亿元，较上月减少0.6%。香港地区跨境贸易结算金额为11232.13亿元，较上月增加12.7%。 2、离岸人民币外汇市场 10月，离岸（CNH）人民币兑美元即期汇率升值，在岸（CNY）人民币兑美元即期汇率升值。 即期市场：10月31日，CNH兑美元即期汇率收于7.1224，较上月末升值0.09%；CNY兑美元即期汇率收于7.1135，较上月末升值0.07% ...

Core Insights - The offshore (CNH) and onshore (CNY) RMB appreciated against the USD in August, with the average daily price difference increasing by 18 basis points (BP) to 80 BP compared to the previous month [1][3] - The CFETS RMB exchange rate index and indices referencing the BIS and SDR currency baskets decreased by 0.20%, 0.13%, and 0.28% respectively from the end of the previous month [1][3] Offshore RMB Foreign Exchange Market - On August 29, the CNH/USD exchange rate closed at 7.1221, appreciating by 1.23% from the end of the previous month, while the CNY/USD exchange rate closed at 7.1330, appreciating by 0.84% [3] - The average daily swap point difference between CNH and CNY increased by 24 BP to 89 BP [4] Offshore RMB Bond Market - In August, 110 offshore RMB bonds were issued, with a total issuance amount of 1640.87 billion, representing an increase of 178.2% from the previous month [5] Offshore RMB Money Market - As of the end of August, the CNH HIBOR rates for overnight, 7-day, 3-month, and 1-year periods rose by 51 BP, 29 BP, 2 BP, and 10 BP respectively compared to the end of the previous month [6] - The average interest rate spread between offshore and onshore borrowing rates remained stable for overnight and 7-day periods, while the 3-month and 1-year periods saw an increase of 1 BP [6] Dynamics of Foreign Institutions in Domestic Interbank Market - As of the end of August, the total number of foreign institutions participating in the domestic interbank foreign exchange market reached 236, an increase of 3 from the previous month [7] - The number of foreign institutions and their products in the domestic interbank currency market increased by 15 to a total of 5755 [7] Trading Volume in Domestic Interbank Market - In August, the total trading volume of foreign institutions in the domestic interbank foreign exchange market was 37336.51 billion, a decrease of 6.9% [8] - The trading volume in the domestic interbank bond market for foreign institutions totaled 11573.91 billion, a decrease of 21.2% [8]