Chinanews Client, October 9th (Xie Yiguan) On the first trading day after the long holiday, the RMB exchange rate ushered in a great appreciation.
According to data from the China Foreign Exchange Trading Center, on October 9, the central parity of the renminbi against the US dollar was 6.7796, an increase of 305 basis points from the last trading day before the holiday.
On the same day, the onshore and offshore RMB exchange rates against the U.S. dollar both hit new highs since April 2019.
The onshore RMB exchange rate against the U.S. dollar surged by more than 1,000 points. As of press time, the onshore RMB exchange rate against the U.S. dollar was reported at 6.7119, which was more than 900 basis points higher than the last trading day before the holiday.
During the long holiday, the offshore RMB exchange rate against the U.S. dollar rose from 6.78 at the end of September to the 6.74 line. It also rose sharply on the 9th. As of press time, the offshore RMB exchange rate against the U.S. dollar stood at 6.7050, which once rose above the 6.7 mark during the session.