The standard value of the renminbi against the US dollar is slightly higher than the yuan of US $ 7.
As trade friction between the US and China intensifies, the Chinese authorities announced the morning of the 7th, the currency / renminbi's standard value for the dollar was lowered by about 0.4% from the 6th, and the yuan ’s low for the first time in about 11 years and 3 months The dollar was strong. However, it is slightly higher than the dollar, which is a milestone of 7 yuan.
The “standard value” of the renminbi released every morning by the Chinese central bank and the Chinese People's Bank is a guideline for transactions between the renminbi and foreign currencies, and the renminbi transaction for the day is within 2% above and below the standard value. Is supposed to be done.
The standard value of the yuan against the dollar announced on the 7th is 0.44% lower than the 6th to 1 yuan = 6.9996 yuan, the yuan's weakness / dollar appreciation for the first time in 11 years and 3 months since May 2008 It became the level of.
However, it is slightly higher than the dollar, which is a milestone of 7 yuan.
On the other hand, the foreign exchange market in Shanghai was traded on the 7th in the morning on the 7th in the RMB, which was equivalent to the yuan depreciation / dollar appreciation above the standard value.
Market officials said, “The yuan standard value announced today was lower than yesterday, but it was in the range of market expectations. The Chinese authorities seem to be wary of excessive yuan depreciation, after tomorrow 8th ”, The standard value announced by the Chinese authorities is drawing attention.”