Ella 
Multiple factors have boosted the continuous rise of the RMB exchange rate. It remains to be confirmed whether the RMB exchange rate will change in the short term.
The central parity rate of the RMB exchange rate in the interbank foreign exchange market announced by the China Foreign Exchange Trade System was 7.1968 yuan per US dollar, an increase of 78 basis points in a single day. Boosted by multiple bullish factors, the central parity rate of RMB appreciated for three consecutive trading days.
The RMB exchange rate has rebounded for several consecutive days. Does it mean that the trend has changed? In this regard, analysts believe that the RMB exchange rate will show a steady upward trend in the second half of the year. Although the short-term depreciation rate of the RMB exchange rate has slowed down, there is no sign of a turnaround.
Regarding the follow-up RMB trend, most market participants believe that although the current RMB exchange rate is still under pressure, it is expected that the exchange rate will not get out of control.
