Major Statement from the Central Bank: How Should We View the RMB Exchange Rate?
智通财经2026/10/09 01:06Many traditional views hold that the RMB exchange rate is solely determined by the central bank, appreciating or depreciating at its discretion. This is a major misconception. In its latest statement, the central bank has once again reiterated that China is committed to allowing the market to play a decisive role in exchange rate formation. China implements a market-based exchange rate regime and has completely withdrawn from regular interventions since 2017. In the future, the RMB exchange rate will not be deliberately appreciated or depreciated. China will continue to respect the market, uphold bottom lines, avoid gaming, and refrain from manipulation. This is the most fundamental and certain long-term trend for the RMB exchange rate in the coming years. (CCTV)
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On October 9, the central parity rate of RMB against Mexican Peso was set at 2.7042, up by 350 points.
Overview of the RMB central parity rates in the interbank foreign exchange market on October 9 (2/2): RMB to South African Rand at 2.4680, down 21.00 points; RMB to Korean Won at 200.1800, up 90.00 points; RMB to UAE Dirham at 0.5470, up 12.50 points; RMB to Saudi Riyal at 0.5590, up 12.10 points; RMB to Hungarian Forint at 48.4644, down 256.00 points; RMB to Polish Zloty at 0.5805, up 0.90 points; RMB to Danish Krone at 0.9924, up 10.00 points; RMB to Swedish Krona at 1.4848, down 7.00 points; RMB to Norwegian Krone at 1.4246, up 20.00 points; RMB to Turkish Lira at 7.3384, up 305.40 points; RMB to Mexican Peso at 2.7042, up 350.00 points; RMB to Thai Baht at 5.0149, up 137.00 points.
October 9 RMB central parity rate: USD quoted at 6.7330, down 37 points
October 9, Interbank Forex Market: Renminbi Central Parity Rates Overview (1/2): Swiss franc to RMB at 8.0821, down 28.00 points; US dollar to RMB at 6.7330, down 37.00 points; Euro to RMB at 7.5323, down 81.00 points; 100 Japanese yen to RMB at 4.2571, down 71.00 points; Hong Kong dollar to RMB at 0.8580, down 5.10 points; British pound to RMB at 8.8872, down 99.99 points; Australian dollar to RMB at 4.6746, down 106.00 points; New Zealand dollar to RMB at 3.7634, down 59.00 points; Singapore dollar to RMB at 5.2460, down 150.00 points; Canadian dollar to RMB at 4.7204, down 5.00 points; RMB to Malaysian ringgit at 0.6084, up 17.80 points; RMB to Russian ruble at 12.6873, down 480.00 points.
The central parity rate of the US dollar against the RMB is set at 6.7330, down 37 points.
Today, the central parity rate of USD to CNY was set at 6.7330, down by 37.00 points. The previous trading day’s rate was 6.7367. The USD closed at 6.7033 against the onshore RMB and at 6.7031 against the offshore RMB yesterday.
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