Odaily News With the implementation of the Fed's interest rate cut, both the onshore and offshore RMB exchange rates have strengthened, approaching the 7.0 mark. At 4:59 am on the 21st Beijing time, the offshore RMB against the US dollar was 7.0421, up 295 points from the New York closing price on Thursday; as of the close of 16:30 on the 20th, the onshore RMB against the US dollar was 7.0552, up 108 points from the previous trading day. At the same time, the USDT/CNY price on the OKX exchange fell to 6.94.