The RMB has broken through the 6.7 mark, with industry insiders predicting that the exchange rate may show a "rise first, then stabilize" trend within the year.

BlockBeats news, September 18 - According to Bitget market data, today the RMB exchange rate achieved an important breakthrough, with both the onshore and offshore RMB spot exchange rates against the US dollar rising above the 6.70 mark during intraday trading. The offshore RMB reached a high of 6.6933, while the onshore RMB hit a high of 6.6964, both setting new highs since February 2023.

Regarding the RMB's trend for the remainder of this year, Wang Qing, chief macro analyst at Orient Gold Credit, judged that in the short term, the RMB exchange rate is expected to continue a stable and slightly strong trend. Later, attention should be paid to changes in China's export growth rate and the impact of monetary policy adjustments by major overseas economies on the US dollar index. In terms of movement rhythm, Wang Qing expects that the RMB will generally maintain a pattern of inverse fluctuation against the US dollar with relatively small amplitude. "It is expected that the core fluctuation range of the RMB exchange rate before the end of the year will be between 6.7 and 6.9. The full-year RMB exchange rate trend may 'rise first and then stabilize.'"