On the first day of the May Day holiday, the uninterrupted offshore RMB exchange rate against the US dollar fluctuated.

On May 1, more offshore investors ’expectations of the exchange rate of RMB against the US dollar opened at 7.0817, and successively fell below 7.09, 7.10, 7.11, 7.12 and 7.13 mark, the lowest depreciation to 7.1350, depreciated more than 500 basis points from the previous closing price of 7.0813.

Since this year, the offshore RMB has depreciated by 2.4% against the US dollar.

The US dollar index rallied on May 1st and then fell back. It is currently quoted at 99.

The spot exchange rate of the RMB against the US dollar officially closed at 7.0519 on the last trading day before the May Day holiday, an increase of 229 basis points from the previous trading day and a cumulative increase in a single week At 310 basis points, it closed at 7.0629 yuan at night, up 126 basis points from the previous trading day and night.

In the latest research report, Societe Generale believes that the market risk appetite in April rebounded as expected, and the situation of tight liquidity of the US dollar also improved marginally. The deterioration of economic data in the euro zone is more significant. The dollar index returned to the 100 mark after a brief weakening and repeated sawing. Looking forward to May, the US dollar index will continue its strong performance.