On Friday (December 2) in the Asian session, the USD/RMB rose slightly and was currently trading around 7.0578. As of 10:37 Beijing time, the USD/RMB was quoted at 7.0578, an increase of 0.22%, the lowest price of the USD/RMB exchange rate in the previous transaction At 7.0422, the closing price was at 7.0429. The onshore and offshore RMB exchange rates against the US dollar rebounded strongly, and both regained the “7.1” mark again on November 30.
In this regard, Chen Li, chief economist and director of the research institute of Chuancai Securities interviewed by a reporter from the “Securities Daily”, said that the recent strong rebound in the exchange rate of the RMB against the US dollar: On the one hand, the US dollar index has been dragged down by the non-agricultural data. It is an external factor catalyzed by the weakening of the US dollar; on the other hand, with the further scientific optimization of domestic epidemic prevention and control policies, the domestic economic fundamentals are expected to improve, supporting the strengthening of the RMB exchange rate.
