RMB exchange rate drops 0.11%

SteelOrbis Shanghai The exchange rate of RMB saw depreciation yesterday. The exchange rate of US Dollar against RMB rose to RMB 8.0475. This records the largest decrease range in a single day for RMB. Following the depreciation, the total range of RMB's appreciation since the reform of Chinese exchange regime regressed to 0.771 percent from 0.88 percent. In other words, the exchange rate of RMB against the US Dollar fell 0.11 percent in two days. This shows that the exchange rate will move into “two ways” rather than just “one way”. Analysts pointed out that the continuous drop in the exchange rate is mainly due to the upward trend of the US Dollar in the international exchange market. Besides, the recently accelerated appreciation of RMB is also another factor for the drop.