2023-12-29 07:00:08
RMBThe exchange rate against the U.S. dollar continued its strength from Thursday (28th) and rose above the intraday mark on Friday.RMB 7.1 Yuan Pass.
According to the Wall Street Journal, offshoreRMBThe exchange rate against the U.S. dollar rose to 7.0886 yuan on Friday, setting a new intraday high since June this year, rising by more than 309 points.Combined with Thursday’s 318-point gain, offshoreRMBIt surged 627 points in two days.
OnshoreRMBIt rose about 230 points against the US dollar to trade atRMB 7.089 yuan.
As expectations for the U.S. Federal Reserve (Fed) to cut interest rates continue to rise,RMBThe exchange rate against the US dollar has rebounded sharply since November, with onshore and offshoreRMBThe two heroes rise up and break through several important levels in a row.
Looking to the future,RMBHow is the exchange rate trending?Many experts believe that the weakening of the U.S. dollar has slowedRMBExternal pressure, coupled with the rising demand for foreign exchange settlement at the end of the year, is expected toRMBIt will move higher in the short term.
Ying Xiwen, head of the Research Department of CMBC International, said that as the Fed’s interest rate cut expectations increase and the domestic economy recovers,RMBThe domestic and international environment has been greatly improved, and by 2024RMBThere is a high chance that the exchange rate against the US dollar will return to within “7”.
Ying Xiwen also said that after January 1, 2024, there will be a new wave of exchange rate quotas.In addition, as the Spring Festival approaches, companies may have a new round of centralized exchanges for foreign exchange settlement or salary payment.RMBThere may also be fluctuations.
A research report from Ping An Securities pointed out that looking forward to 2024,RMBDepreciation pressure is expected to ease, freeing up more space for monetary policy.consideringdollar indexThe center has moved downward, and the “expectation gap” of China’s economy may narrow, and the prospects for external demand and exports are improving. ForecastRMBThe exchange rate against the US dollar is expected to gradually return to 6.8 yuan to 7.0 yuan.
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