The fluctuation rate of the renminbi both domestically and overseas has dropped to the lowest level since March 2024.

The onshore and offshore Chinese yuan remained stable on Tuesday, continuing the narrow fluctuations seen recently, with implied volatility dropping to the lowest level since March 2024. The USD/offshore yuan remained unchanged at 7.1880, with a volatility of less than 0.1% for the fifth consecutive trading day. The USD/onshore yuan basically stayed at 7.1830, with a volatility of less than 0.1% for the sixth consecutive trading day. The one-month implied volatility of the USD/offshore yuan fell to 2.77%, reaching the lowest level since March 2024. The USD/Hong Kong dollar declined for the fifth consecutive trading day, closing at 7.7993.