On August 17, the China Foreign Exchange Trade System announced the RMB-to-USD central parity rate at 6.7873, up by 5 basis points from the previous day, rising to the highest level since February 2023 (a new high in three and a half years). Since April 2025, the RMB-to-USD central parity rate has cumulatively appreciated by about 6%, and the CFETS exchange rate index has also strengthened in tandem. Meanwhile, the U.S. dollar index broke below the 100 mark, and non-U.S. currencies generally rebounded. The strengthening of the RMB reflects strong export conditions and support from settlement demand, which also provides some boost to risk appetite for assets denominated in RMB. $USDCNH $DXY $BTC is for information purposes only and does not constitute investment advice.