The exchange rate of the Renminbi hits a nearly three-year high, industry professionals remind not to blindly speculate on the exchange rate trend.

The Spring Festival is approaching, and the RMB has broken through the strong barrier. On February 12th, both onshore and offshore RMB against the US dollar rose above the 6.90 mark, hitting a new high since April 2023. Looking ahead, many experts warn that there is still significant uncertainty in the RMB exchange rate trend, and companies and financial institutions should avoid blindly following the trend or gambling on exchange rate movements. The financial market department of China Construction Bank suggests that after the Spring Festival, the seasonal forces for exchange settlement may gradually weaken, and the forces for buying and selling foreign exchange will tend to balance out, with the exchange rate returning to being driven by fundamentals. At the same time, the market needs to closely monitor the balance between appreciation expectations and the "stable exchange rate" policy, as the RMB exchange rate will show a two-way fluctuation pattern. Wang Qing, Chief Macro Analyst at Orient Securities, reminds that exchange rates are notoriously unpredictable, and foreign trade companies should avoid betting unilaterally on RMB exchange rate fluctuations, focus on their core business, moderately use various foreign exchange market derivative tools, control exchange rate risk exposure, lock in export income, and stabilize business expectations. For residents, currency exchange should be based on actual needs.