For the first time in 14 years!The offshore RMB fell below 7.2 against the US dollar

The exchange rate of the US dollar on the shore and offshore continued to decline significantly.

On September 28, the exchange rate of the RMB against the US dollar continued to fall. As of press time, both shore and offshore RMB fell below the 7.2 mark against the US dollar. Among them, the lowest shore renminbi reached 7.2300, offshore RMB minimum to the US dollar hit 7.2272, and both daily fell more than 400 points.

Earlier, according to data from the China Foreign Exchange Trading Center, the RMB's intermediate price of the US dollar was reported at 7.1107, down 385 points, a new low since June 2, 2020.

Since the beginning of this year, the middle price of the RMB against the US dollar has fallen 11.53%. On the other hand, the US dollar index continued to rise upwards, and as of press time, at 114.63, a new high for 20 years.

After the mid -range price was released, more offshore RMB against the US dollar that reflected the expected international investors fell below the 7.2 mark, and then further fell below the 7.21 and 7.22 mark.

Since the beginning of this year, the RMB exchange rate has fallen 13.4%in the offshore market.

The RMB exchange rate of the US dollar is also weak in the shore market.

At 9:30 on September 28th, the RMB against the US dollar was reported at 7.1800, and then fell below the 7.20 mark, which was more than 400 basis points from the previous day. Wind data showed that this is the first time since February 2008 that has fallen below this pass since this pass. Essence

(China Securities Network, Surging News)

Edit: Zhao Shanshan

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