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The onshore and offshore RMB exchange rates against the US dollar rose above 7.16, setting a new high in more than seven months

Internet reports that today, the RMB exchange rate against the U.S. dollar rose above the 7.16 mark in both onshore and offshore markets, rising to an intraday high of 7.1565, setting a new high since mid-November last year. At 16:30, the spot exchange rate of the RMB against the U.S. dollar closed at 7.1684 during the day, up 29 basis points from the previous trading day, and the closing price also hit a new high since November 11, 2024. The offshore RMB exchange rate against the US dollar, which more reflects the expectations of international investors, also rose above the 7.16 mark during intraday trading on June 26. As of now, the intraday high has risen to 7.1524, also setting a new high since mid-November last year. Since the beginning of this year, the central parity rate of the RMB against the US dollar has appreciated by 0.37%, the spot exchange rate of the RMB against the US dollar has appreciated by nearly 1.8%, and the offshore RMB has appreciated by more than 2.3% against the US dollar. (surging)

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