The RMB exchange rate against the US dollar fluctuates upward, and there is still room for appreciation in the short term
2025-03-12 22:54:36
Recently, the exchange rate of the RMB against the US dollar has shown a volatile upward trend. According to Wind data, as of the close of March 12, the onshore RMB against the US dollar exchange rate rose by 0.54% in March, and once rebounded from near the "7.3" mark to near the "7.2" level. Looking at the longer term, the onshore RMB against the US dollar exchange rate has rebounded by about 1.19% compared with the lowest point this year (7.3326). The offshore RMB against the US dollar exchange rate also showed a similar trend. As of the close of March 11, the offshore RMB against the US dollar exchange rate rose by 0.93% in March. "The fluctuation of the RMB against the US dollar exchange rate in recent trading days is mainly affected by the sharp decline in the US dollar index. Recently, non-US currencies have generally appreciated, and the RMB has also risen." Wang Qing, chief macro analyst at Dongfang Jincheng, said. (Securities Daily)
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