China Foreign Exchange Trade System: In September, the offshore (CNH) RMB spot exchange rate appreciated against the US dollar, and the onshore (CNY) RMB spot exchange rate appreciated against the US dollar.

According to the Zhitong Finance APP, on October 12, the China Foreign Exchange Trade System published a statement: In September, the offshore (CNH) RMB spot exchange rate appreciated against the US dollar, and the onshore (CNY) RMB spot exchange rate appreciated against the US dollar; the daily average price spread (absolute value of CNY-CNH) was 30BP, a decrease of 3BP from the previous month; the CFETS RMB exchange rate index and the RMB exchange rate indices referencing the BIS currency basket and the SDR currency basket rose by 1.31%, 1.34%, and 1.44% respectively from the end of the previous month. Offshore RMB bond issuance increased from the previous month. CNH HIBOR overnight, 7-day, 3-month, and 1-year rates rose by 8BP, rose by 5BP, rose by 1BP, and were basically unchanged, respectively, from the end of the previous month.