As the offshore renminbi fell below 7.3, the onshore renminbi also approached this key psychological point step by step, and the signal of maintaining stability continued to heat up. First, the central parity rate released a stable signal, and in the past two weeks, a large state-owned bank entered the market to stabilize the RMB exchange rate.
On August 21, the model predicted that the central parity rate of RMB against the U.S. dollar in the interbank foreign exchange market was 7.2880, and the central parity was reported at 7.1987 yuan, an increase of 19 points from the previous value. It can be speculated that the counter-cyclical adjustment factor is as high as nearly 900 points.
As of 21:00 on the 21st, the US dollar was quoted at 7.2822 against the offshore renminbi, and the US dollar was reported at 7.2790 against the onshore renminbi, regaining the 7.3 mark.
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Post time: Aug-22-2023