Both onshore and offshore yuan exchange rates against the US dollar hit 14-month highs. According to data from China Foreign Exchange Trading System (CFETS), the spot yuan exchange rate against the US dollar rose to a high of 7.0500 during trading, the first time it has touched the 7.05 mark since October 9, 2024. In the offshore market, according to Sina's quotes, the offshore yuan exchange rate against the US dollar rose to a high of 7.046 during trading on December 15, a new high since early October 2024. Regarding the central parity rate, the yuan's central parity rate against the US dollar was set at 7.0656 on December 15, a depreciation of 18 basis points. (Jinshi)