At about 9:16 a.m. on August 5, the offshore US dollar fell below 7 barriers against the RMB, reaching a peak of 7.0392. At around 9:32, the onshore exchange rate of RMB against the US dollar also fell below 7 levels, reaching a peak of 7.0262. Meanwhile, the mid-price of RMB against US dollar fell below 6.9 on August 5 for the first time since December 2018.
