Offshore RMB Breaks Above 6.8, Hits Over Three-Year High; HKD100 Exchanges for RMB86.78

The offshore Renminbi (RMB) has strengthened, breaking above the 6.8 level against the USD, reaching a high of 6.7965 and last reported at 6.8008, the highest since February 2023. This rise is attributed to progress in US-Iran negotiations. Additionally, HKD100 exchanges for RMB86.78 in the offshore market.

Progress in US-Iran negotiations has supported the Renminbi to strengthen for two consecutive trading days. The offshore RMB broke above the 6.8 level, once rising to 6.7965 against the USD, and was last reported at 6.8008, marking a new high since February 2023.

HKD100 was last exchanged for RMB86.78 in the offshore market. (ha/da)

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