After the RMB -USD intermediate price reduced 164 basis points, the exchange rate of the offshore RMB against the US dollar fell to the lowest level since the record.
According to Bloomberg, the exchange rate of offshore RMB against the US dollar fell to 7.36 on Friday (September 8), close to the lowest level since the establishment of the offshore RMB market in 2010.
The People's Bank of China announced on Friday that the RMB market price of the inter -bank foreign exchange market was reduced by 164 basis points against the US dollar at 7.2150, which is a low point in two months.
Bloomberg quoted sources as saying that 7.35 is an indicator of China's highest leadership last month, which has also become the focus of short -term attention of RMB traders.
It is reported that as investors lose patience with China's downturn's economic data, the prospects of China's financial market are increasingly dim.The RMB exchange rate in the shore market also fell to 16 years on Thursday.
The Bank of China has been using its currency toolbox this year to slow down the decline of the RMB, including guiding state -owned banks to sell US dollars, squeezing the liquidity of the offshore market, and increasing foreign exchange supply in the domestic market.
