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On August 5, the renminbi fell below 7 against the dollar, the first time since the 811 exchange rate reform in 2015. From the morning of August 5 to the morning of August 6, the exchange rate of RMB against the US dollar continued to decline.
Early on August 6, the Central Bank announced that, in order to improve the yield curve of RMB bonds in Hong Kong, the People's Bank of China will issue two issues of RMB central bank bills in Hong Kong on August 14, 2019, with a total issuance of 30 billion yuan, including 20 billion yuan for three-month central bank bills and 10 billion yuan for one-year central bank bills.
This is also the fourth time since February, May and June this year that central bank bills of RMB have been issued through the Central Settlement System (CMU) bond tender platform of the Hong Kong Monetary Authority.


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