On November 21, the Renminbi's intermediate price was 6.8985, and this was reaching eight and a half years low. In our view, the last trend of the Renminbi devaluation has begun. The US dollar will remain strong while the Renminbi will remain weak with the intended outflow capital still being in accumulation, while the relevant departments will tighten the capital outflow in the operational level. When the market and financial regulators are adapted to this trend, the focus of the market will not be the exchange rate of Renminbi but rather the struggle in between outflow and tightening of the outflow, while Renminbi will be in the situation of balanced exchange rate fluctuation. After the continuous devaluations, the market will see the rise of the exchange rate.