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introduction

Driven by short-term factors such as the reversal of the yen carry trade, the offshore and onshore RMB exchange rates experienced significant appreciation, with a cumulative increase of more than 1,000 basis points, once approaching the key level of 7.1.

When we look at the exchange rate, the eyes of the global market seem to be focused on the US dollar index. Under the current financial system, it is expected that the RMB exchange rate will remain relatively stable and slightly upward.

Regarding the outlook for the RMB exchange rate, my view is that with the gradual recovery of the economy and the clear direction of the Fed's interest rate cut cycle, the RMB exchange rate is likely to enter a cycle of appreciation. At the same time, the trend of the RMB is expected to remain stable compared with major international currencies.

On the news

1. Yifan Pharmaceutical recently released its performance report for the first half of 2024. During the reporting period, the company achieved operating income of 2.632 billion yuan, a significant increase of 35.39% compared with the same period last year.