The Renminbi against the US dollar Exchange RateFluctuation is on the rise, and there may still be room for appreciation in the short term

Golden Finance reported that recently, the RMB to USD Exchange Rate has shown a Fluctuation upward trend. Wind data shows that as of the close of March 12th, the onshore RMB to USD Exchange Rate has pumped by 0.54% in March, once rising from near the "7.3" level to near the "7.2" level. Looking back over a longer period of time, compared to the lowest point this year (7.3326), the onshore RMB to USD Exchange Rate has risen by about 1.19%. The offshore RMB to USD Exchange Rate has shown a similar trend, with a pump of 0.93% as of the close of March 11th. "The recent upward Fluctuation of the RMB to USD Exchange Rate in the past few trading days is mainly due to the significant decline in the US Dollar Index. Recently, non-US currencies have generally appreciated, and the RMB has also risen accordingly," said Wang Qing, Chief Macro Analyst at Orient Securities. (Securities Daily)