The People’s Bank of China authorized the China Foreign Exchange Trading Center to announce that the central parity rate of the RMB exchange rate in the inter-bank foreign exchange market on January 19, 2018 was: 1 US dollar to RMB 6.4169, an increase of 232 points from the previous day. On the morning of the 19th, the onshore RMB rose sharply and once exceeded 6.40. Theoretically, the focus of settlement costs will shift downward due to the rise in exchange rates for imported cotton and imported cotton yarn. The dollar weakens and the yuan rises sharply
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