Offshore RMB breaks above the 7 threshold for the first time since 2024, onshore RMB hits a new high in over a year

2025-12-25 09:22:17

Abstract generation in progress

PANews December 25 News, the offshore RMB against the US dollar broke through the 7 level for the first time since 2024. The onshore RMB against the US dollar also broke through 7.01, reaching a new high since September 2024. The midpoint rate of RMB against the US dollar is reported at 7.0392, up 79 basis points, the highest since September 30, 2024, with the largest increase since August 27, 2025. Market analysis suggests that the weakening of the US dollar index, increased resilience of the Chinese economy, and year-end foreign exchange settlement demand have driven the RMB exchange rate to appreciate strongly. In the short term, the RMB against the US dollar is expected to remain relatively strong, but whether it can stabilize above the 7.0 level will need to be observed.

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