The central parity of the RMB against the US dollar was reported at 6.7075, a record high of 10 months.

Abstract On August 9, the central parity of the RMB against the US dollar was reported at 6.7075, an increase of 109 points from the previous day's median price, a record high of nearly 10 months. In the overnight market, the dollar did not fluctuate. Yesterday, in the case of small fluctuations in the US dollar, the RMB rose sharply against the US dollar, and once rose above 6...
On August 9, the central parity of the RMB against the US dollar was reported at 6.7075, an increase of 109 points from the previous day's median price, a record high of nearly 10 months.
In the overnight market, the dollar did not fluctuate. Yesterday, in the case of small fluctuations in the US dollar, the RMB rose sharply against the US dollar and once rose above the 6.70 integer.
Foreign exchange analyst Li Liuyang said that the dollar did not change much on the 8th, and the appreciation of the renminbi was an independent market. When the market gradually reached a new high, the demand for foreign exchange settlement was stimulated. Foreign exchange expert Han Huishi told reporters that there are generally two possibilities for this situation. One is the large amount of foreign exchange settlement, and the other is that the dollar's long-term strength has shrunk dramatically. Whatever the reason, it reflects that the expectation of RMB depreciation has cooled significantly. This is due to the market's expectation that the US dollar is expected to remain weak. On the other hand, the continued appreciation of the RMB this year has boosted market confidence.
Analysts pointed out that although the US non-agricultural data in July was strong, it did not reverse the decline of the US dollar. The market worried about the slowdown of US inflation, and the US political turmoil continued to be concerned, making it difficult for the US dollar to turn over in the short term. In the context of the continued weakening of the US dollar, the RMB exchange rate is expected to continue to be strong in the short term.

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