The onshore RMB exchange rate surged sharply to 7.2289, rising 172 basis points from the previous closing price.

According to Deep Tide TechFlow, on May 12, as reported by JIN10 Data, at the opening of the interbank foreign exchange market, the RMB to USD exchange rate surged sharply. Wind data shows that as of 9:34, the onshore RMB to USD exchange rate was 7.2289, up 172 basis points from the previous close, while the offshore RMB to USD exchange rate was 7.2271, up 132 basis points from the previous close. According to China Foreign Exchange Trade System data, on May 12, the RMB to USD central parity rate was 7.2066, an increase of 29 basis points from the previous trading day.