The onshore and offshore Renminbi exchange rate against the US dollar has risen above 7.16, reaching a new high in over 7 months.

On June 26, Jin10 data reported that today, the exchange rate of the RMB against the US dollar broke through the 7.16 mark in both onshore and offshore markets. During the day, it rose to a maximum of 7.1565, setting a new high since mid-November last year. At 16:30, the RMB to USD spot exchange rate closed at 7.1684, an increase of 29 basis points compared to the previous trading day, with the closing price also marking a new high since November 11, 2024. The offshore RMB to USD exchange rate, which more reflects the expectations of international investors, also broke through the 7.16 mark during the day on June 26, reaching a maximum of 7.1524, again setting a new high since mid-November last year. Since the beginning of this year, the RMB to USD central parity rate has appreciated by 0.37%, while the RMB to USD spot exchange rate has appreciated by nearly 1.8%, and the offshore RMB to USD exchange rate has appreciated by over 2.3%.

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