The RMB Hit a 14-Year Low Relative to the USD

On September 28, Beijing time, the US dollar exchange rate against the offshore RMB of Communist China fell below 7.26 at about 5:00 p.m., hitting a 14-year low. Since the beginning of this year, the exchange rate of the US dollar against the RMB has fallen continuously from 6.31 at the beginning of the year to 7.26 today, with a cumulative decline of more than 15%. The new low of the RMB exchange rate forced the Central Bank of Communist China to warn against betting on the unilateral appreciation or depreciation of the RMB exchange rate, saying that if you gamble for a long time, you will lose.