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the rmb exchange rate against the u.s. dollar continued to appreciate.

on september 20, the rmb spot exchange rate against the u.s. dollar opened at 7.0600, and then broke through this mark to 7.0527, appreciating by more than 100 points from the previous trading day, setting a new high since the end of may 2023.

driven by the sharp rise in the spot exchange rate on the previous trading day, on september 20, the rmb central parity rate against the u.s. dollar was 7.0644, up 339 basis points, setting a new high since may 29, 2023.

in the offshore market, the rmb exchange rate against the u.s. dollar also rose above the 7.06 mark on september 20. as of press time, it reached a high of 7.0556, an appreciation of more than 100 points from the previous trading day.

under the influence of the federal reserve's first interest rate cut in four years, the rmb exchange rate against the us dollar saw a sharp rise on september 19, with the rmb spot exchange rate against the us dollar and the offshore rmb exchange rate against the us dollar rising by 0.33% and 0.34% respectively in a single day.