Reported 9 months ago
The China Foreign Exchange Trading Center announced the Renminbi to US Dollar central parity rate at 7.1270, down 22 points or 0.03% from the previous day, marking the seventh consecutive day of depreciation. Market experts suggest that China's official tolerance for the Renminbi depreciation seems to have increased. Analysts predict that the Renminbi offshore rate may approach 7.35, influenced by factors such as the postponement of Fed rate cuts and the strengthening US economy relative to Europe and Japan leading to passive depreciation of the Renminbi against the US Dollar.
Source: YAHOO