On October 10, 2024, the onshore Chinese Renminbi to US Dollar exchange rate fell by 138 points, hitting a three-week low.
On October 9, the onshore Renminbi to US Dollar rate closed at 7.0673 Renminbi per 1 US Dollar, down by 138 points or 0.2% from the previous day’s closing of 7.0535 at 4:30 pm. Intraday, the Renminbi dipped to a low of 7.0691 against the dollar. The price of 7.0673 later dropped to 7.0648 by the final trading session at 11:30 pm, a decrease of 25 points.
The offshore Renminbi rate on October 9 once dropped below 7.07, reaching a low of 7.0759.
The People’s Bank of China’s official midpoint exchange rate for the Renminbi on October 9 was reported at 7.0568, marking an increase of 141 points or 0.2% from the previous day’s rate of 7.0709.
As of 9:06 am Beijing time on October 10, the offshore Renminbi was quoted at 7.0842, indicating a continued decline.