【Offshore Renminbi dips below 7.28 intraday; industry insiders claim "catch-up effect" causes fluctuations in the RMB exchange rate】Jin Ten Data, December 2 - On December 2, both offshore and onshore Renminbi against the US dollar saw significant depreciation, with the offshore Renminbi briefly dropping below 7.28, hitting a new low since July. Nevertheless, a foreign exchange trader from a Hong Kong bank believes that the RMB's decline is more like a result of the "catch-up effect." As the US dollar index fell back to around 106.29, coupled with the Renminbi exchange rate "releasing" the catch-up pressure, the RMB exchange rate has now returned to a relatively balanced range of fluctuations. If the US dollar index does not rise rapidly again in the future, the room for further depreciation of the RMB exchange rate will be relatively limited. Forex traders predict: "In the short term, even if the RMB exchange rate hits a new low for the year, if the RMB continues to decline rapidly, the forex market's expectations for the People's Bank of China to increase its stabilization operations will strengthen, which will help the RMB exchange rate stabilize and rebound." (Every Day Network) (Transcribed from: Jin Ten Data)