The RMB exchange rate has been subject to two pressures - economic downturn and the powerful US dollar - causing it to fluctuate around 7, and even breach the 7 mark at times. This shift has had a considerable impact on both personal and societal life, and the financial market may be subject to further alterations in the days ahead. As a result of the fluctuations in the international financial market, the RMB exchange rate has generally exhibited two-way fluctuations and a slight recovery. The state strengthens the supervision of the exchange rate market, promotes the quality growth of the economy, enhances the convenience of foreign trade, realizes the high-quality development of the national production and life, and pushes the economy to realize the qualitative and effective enhancement and quantitative and reasonable growth.

Yu Qi. Analysis of Recent RMB Exchange Rate Movements. International Journal of Social Sciences and Economic Management (2023), Vol. 4, Issue 1: 48-53. https://doi.org/10.38007/IJSSEM.2023.040105.

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