The Zhitong Finance App learned that Standard Chartered raised its onshore and offshore renminbi/dollar forecasts for the end of this year, from 6.82 to 6.55 and 6.56, respectively.

Standard Chartered Bank said that the recent strength of the RMB reflects the weakening of the US dollar, improved market confidence and policy support. It is expected that there is still room for the RMB to rise further in the short term, and that the upward trend will ease before the end of the year.

The bank also said that the recent continuous increase in central prices by the People's Bank of China and the relaxation of capital control measures all indicate stabilizing the excessive adjustment of the RMB, and that the rise in the RMB will lead new foreign exchange reforms, and reducing capital control will help the market balance. The central price of RMB against the US dollar rose 11 days in a row. Today it broke through the 6.5 mark to 6.4997, up 35 points from the previous trading day, the longest rise since June 2005.