The exchange rate of the renminbi against the United States dollar rose by 6.74 to three and a half years

On 17 August, the renminbi broke the threshold of 6.74 in its spot exchange rate against the United States dollar, at a new high since early February 2023. On the offshore market, the RMB against the United States dollar also rose to the level of 6.74. On 17 August, the level of the offshore renminbi, which is more reflective of the expectations of international investors, rose to a maximum of 7.3875 against the United States dollar, a similar three and a half-year increase. (GRUNTS)