The Renminbi exchange rate has recovered the 7.20 mark. Institutions: The peak stage of devaluation pressure may have passed.

Golden Ten Data on May 13, what is the future trend of the RMB exchange rate? Wang Qing, chief macro analyst of Oriental Jincheng, believes that in the future, the trend of the RMB will mainly depend on two factors: first, the progress of Sino-US economic and trade dialogue and consultation; The second is the trend of the US dollar. Considering that China and the United States will go through a complicated and tortuous negotiation process in the future to address each other's core concerns, the RMB exchange rate will also fluctuate, and unilateral appreciation is unlikely. However, with the gradual emergence of the impact of "reciprocal tariffs" on the U.S. economy, the U.S. dollar will still be under some pressure, and the U.S. tariff stance on China may be more flexible and pragmatic, which means that the stage of the greatest pressure on the depreciation of the yuan may have passed. In the future, the RMB is more likely to have a two-way fluctuation process opposite to the US dollar, but the volatility will be relatively small. Relative to other major currencies, the renminbi will be more stable.