---
title: "[RMB Focus] RMB spot rate closes down 24 pips, marking second consecutive decline at 6.6735"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/304824915.md"
description: "The onshore RMB to USD spot rate closed at 6.6735, down 24 pips, marking its second consecutive daily decline. The offshore RMB edged higher. The RMB To USD Midpoint Rate hit a new low in over two weeks, coming in weaker than market forecasts. Influenced by strong US non-farm payroll data and expectations of a Federal Reserve rate hike, the rebound in the US Dollar Index put pressure on the RMB. The market expects sustained foreign exchange settlement demand in the fourth quarter, limiting the scope for RMB adjustment, with the overall trend showing bidirectional fluctuations"
datetime: "2026-11-09T08:40:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/304824915.md)
  - [en](https://longbridge.com/en/news/304824915.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/304824915.md)
generator: "portal-rs"
---

# [RMB Focus] RMB spot rate closes down 24 pips, marking second consecutive decline at 6.6735

(Economic Information Network Special Report, 9th) The onshore RMB to USD spot rate (CNY) closed today at 6.6735, down 24 pips from the previous trading day's closing price at 4:30 PM, marking its second consecutive decline. Throughout the day, it fluctuated between 6.6733 and 6.6767.

The offshore RMB to USD (CNH) rose 22 pips to 6.6719.

Today's RMB To USD Midpoint Rate was quoted at 6.7188, down 20 pips from the previous trading day, marking its second consecutive decline and hitting a new low since October 22, more than two weeks ago. This was approximately 390 pips weaker than market forecasts.

Market participants noted that last Friday's US non-farm payroll data was strong, increasing the likelihood of a Federal Reserve rate hike in December. The US Dollar Index saw a volatile rebound, putting slight downward pressure on the RMB. Customer transactions in the fourth quarter may still lean towards foreign exchange settlement, likely limiting the scope for RMB adjustment. Meanwhile, China's inflation data has limited direct impact on the foreign exchange market.

Ping An Bank believes that the RMB is highly likely to continue its pattern of "slowing appreciation momentum and predominant bidirectional fluctuations." From a domestic perspective, the accumulation of trade surpluses and the continued release of year-end foreign exchange settlement demand will determine the spot central parity through the balance of corporate settlement and sale of foreign exchange. However, the rebound in the US Dollar Index and the wide negative interest rate differential between China and the US will constrain the RMB's performance.

### Related Stocks

- [000001.CN](https://longbridge.com/en/quote/000001.CN.md)

## Related News & Research

- [Web3Auth says it frontran hackers by moving $5.6 million out of exposed Keplr wallets](https://longbridge.com/en/news/304767318.md)
- [China wholesale inflation hits over four-year high as consumer measure slows](https://longbridge.com/en/news/304785092.md)
- [Why gold's record run is breaking the global money system](https://longbridge.com/en/news/304760101.md)
- [Visa (V) Just Gave Investors Something To Think About](https://longbridge.com/en/news/304838789.md)
- [Is Corning (GLW) Undervalued After Strong Earnings And Higher Guidance?](https://longbridge.com/en/news/304790245.md)

---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**