TechFlow news, May 12 — According to Jinshi Data, on May 12 the opening session saw the RMB surge against the USD in the interbank foreign exchange market. Wind data showed that by 9:34, the onshore RMB was quoted at 7.2289 per USD, up 172 basis points from the previous closing level, while the offshore RMB stood at 7.2271 per USD, rising 132 basis points from the prior close. Data from China Foreign Exchange Trade System indicated that on May 12, the central parity rate of the RMB against the USD was set at 7.2066, 29 basis points higher than the previous trading day.
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