On August 10, the onshore RMB exchange rate against the US dollar hit an intraday high since February 6, 2023. According to Wind data, as of 16:30, the closing price of the onshore RMB against the US dollar was 6.7442 yuan, up 59 basis points from the previous closing price, and the highest price in the intraday period was 6.7432 yuan. According to a research report by the Industrial and Commercial Bank of China, looking ahead to the second half of the year, the exchange rate of RMB against the US dollar is likely to continue to fluctuate and slowly rise. The main influencing factor is that in the second half of the year, China's exports are expected to continue to grow resilient, international capital will increase RMB assets, and net capital inflows will support the strengthening of the RMB center. In addition, attention should be paid to the impact of geographical risks and tariff policies on export products and regional structures, and the differentiation of volume-price relationships.

On August 10, the onshore RMB exchange rate against the US dollar hit an intraday high since February 6, 2023. According to Wind data, as of 16:30, the closing price of the onshore RMB against the US dollar was 6.7442 yuan, up 59 basis points from the previous closing price, and the highest price in the intraday period was 6.7432 yuan. According to a research report by the Industrial and Commercial Bank of China, looking ahead to the second half of the year, the exchange rate of RMB against the US dollar is likely to continue to fluctuate and slowly rise. The main influencing factor is that in the second half of the year, China's exports are expected to continue to grow resilient, international capital will increase RMB assets, and net capital inflows will support the strengthening of the RMB center. In addition, attention should be paid to the impact of geographical risks and tariff policies on export products and regional structures, and the differentiation of volume-price relationships.