RMB, straight up

On March 11, the afternoon of March 11, the RMB exchange rate rose rapidly in a nearly straight line. The onshore RMB exchange rate against the US dollar rebounded by nearly 300 points during the day, and the offshore RMB rose by more than 350 points during the day. Experts said that on the one hand, the weakening of the US dollar index directly promoted the strengthening of the RMB against the US dollar; on the other hand, in the context of the recent hot expectations of China's asset revaluation, this year's National Two Sessions have further released positive policy signals, stimulated the market's optimistic expectations, and promoted the strengthening of the RMB. Wang Qing, Research and Development Department of Oriental Jincheng, said that as a result, under the background of the sharp depreciation of the US dollar and the basic stability of the central parity of the RMB exchange rate, the onshore and offshore RMB have risen steadily recently. According to his judgment, the risk of US dollar volatility increases in the short term, and the RMB may still have room for appreciation. In terms of outlook, experts say that external uncertainties may still cause disruptions to the RMB exchange rate trend in stages, but with the support of positive fundamental factors, the future trend of the RMB exchange rate will still be characterized by two-way fluctuations.