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In 2018, the RMB depreciated by 5% against the us dollar

February 18, 2019

On December 28, the central parity rate of the renminbi against the us dollar in the interbank foreign exchange market was raised 262 basis points to 6.8632 yuan, affected by the sharp drop in the us dollar overnight and the advance of the RMB market exchange rate. On the 27th, the dollar index fell 0.48% to 96.585 on the international market. The onshore renminbi closed at 6.8675 per dollar overnight, up 173 basis points from the previous session.

The China foreign exchange trading center announced that on December 28, 2018, the central parity rate of RMB against usd in the interbank foreign exchange market was set at 6.8632 yuan.According to statistics, the central parity rate depreciated by 3,290 basis points in 2018, with a depreciation rate of 5.03%. In the 243 trading days of the year, 138 trading days were devalued, 104 trading days were appreciated and one trading day was flat.