On August 24, the People’s Bank of China (PBOC) announced a further appreciation of the Chinese currency to RMB 6.6525 against the US dollar, up 108 base points compared to the official rate of RMB 6.6633 on August 23, reaching the highest level since September 22, 2016.
On August 24, the Chinese currency stands at RMB 7.8602 against the euro, RMB 8.5167 against the British pound, RMB 5.2627 against the Australian dollar, and at RMB 5.3037 against the Canadian dollar, compared respectively to RMB 7.8356, RMB 8.5417, RMB 5.2647 and RMB 5.3005 on August 23.