The RMB Breaks 7: What Is the Central Bank Playing at? Will It Rise Again in 2026?
December 25th, a seemingly ordinary number triggered widespread market attention—USD/CNH (offshore RMB) fell to 6.9965, and USD/CNY (onshore RMB) dropped to 7.0051. This is the first time since September 2024 that the RMB has broken through this psychological barrier, and it is also the lowest level since May 2023.
**Why Did the RMB Suddenly Strengthen?**
Behind the seemingly simple exchange rate figures are actually the result of three forces acting simultaneously.
First is the weakening of the US dollar itself
View OriginalDecember 25th, a seemingly ordinary number triggered widespread market attention—USD/CNH (offshore RMB) fell to 6.9965, and USD/CNY (onshore RMB) dropped to 7.0051. This is the first time since September 2024 that the RMB has broken through this psychological barrier, and it is also the lowest level since May 2023.
**Why Did the RMB Suddenly Strengthen?**
Behind the seemingly simple exchange rate figures are actually the result of three forces acting simultaneously.
First is the weakening of the US dollar itself