[RMB Central Parity Rate Declines for Third Consecutive Day, Onshore Yuan Falls to Over Two-Week Low] According to Deep Tide TechFlow, on November 4th, the central parity rate of the RMB against the US dollar was 6.7180, a decrease of 30 basis points from the previous trading day. This marks the third consecutive trading day of depreciation, reaching its weakest level since October 23rd, and significantly weaker than Reuters' forecast of 6.6811. According to Reuters, the onshore yuan fell to around 6.68 in early trading, its weakest level since October 19th, with the offshore yuan weakening in tandem. Previously, the People's Bank of China announced on November 3rd that it would raise the reserve requirement ratio for foreign exchange deposits of financial institutions from 4% to 6% starting November 15th, the first increase since December 2021. Following the announcement, the USD/CNY exchange rate rose by over 280 basis points intraday, reaching 6.675. Market participants believe this move aims to curb the rapid appreciation of the yuan. The yuan has appreciated by approximately 5% against the US dollar this year, and the CFETS yuan exchange rate index previously reached its highest level since July 2022.