B''''' (However There are different interpretations in the industry for the continued rise of br. Xie Yaxuan, an analyst at China Merchants Securities Research and Development Center, believes that there are various signs that the central bank may intervene in the RMB exchange rate in both domestic and overseas markets last week. Since the conclusion of the Hangzhou Summit, the market has been bearish on RMB expectations. Some industry insiders believe that the central bank hopes to curb bearish sentiment by tightening liquidity in the offshore RMB market, especially as the date for the RMB to officially join the R currency basket approaches on May 1.
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