The RMB against the US dollar breaks through 7.01, showing a clear appreciation trend since the beginning of the year.

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According to the latest news, the onshore RMB against the US dollar broke through the 7.01 mark, reaching a new high since September 27, 2024.

This breakthrough demonstrates the RMB’s strong appreciation trend since 2024. From market performance, the RMB’s appreciation against the dollar reflects the combined effects of multiple factors, including support from domestic economic fundamentals and changes in international capital flows.

When the RMB appreciates to this level, it will have certain impacts on import and export trade, cross-border investment, and foreign exchange reserves. For overseas investors and importers, RMB appreciation means changes in currency exchange costs; for export companies, it requires re-evaluating price competitiveness.

In 2024, the RMB exchange rate experienced several key moments, and this breakthrough above 7.01 further confirms the sustainability of the appreciation. It remains to be seen whether it can continue to break through integer thresholds and whether this upward momentum can be sustained.

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