The Chinese Yuan held flat at 6.38565 against the US Dollar on Friday after the onshore rate was set at 6.3856. Sentiment for the Yuan remained subdued as a key US inflation report showed the US CPI jumped to 5% in May, the highest since August 2008. Locally, the PBoC is trying to normalize policy by reducing stimulus and contain debt as the economy rebounds from the pandemic after Wednesday’s data showed China's May factory gate prices rose at their fastest annual pace in over 12 years. Among other recent data, the value of new yuan loans in China went up to CNY 1,500 billion in May from CNY 1,470 billion in April, while M2 money supply grew 8.3% yoy, and outstanding yuan loans grew an annual 12.2%, below 12.3% in April.

Historically, the Chinese Yuan reached an all time high of 8.73 in January of 1994. Chinese Yuan - data, forecasts, historical chart - was last updated on June of 2021.

The Chinese Yuan is expected to trade at 6.42 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 6.50 in 12 months time.

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Majors Price Day Year
EURUSD 1.2108 -0.0066 -0.54% 7.56%
GBPUSD 1.4095 -0.0077 -0.54% 12.39%
AUDUSD 0.7702 -0.0049 -0.63% 12.14%
NZDUSD 0.7132 -0.0059 -0.82% 10.58%
USDJPY 109.6780 0.3020 0.28% 2.14%
USDCNY 6.3950 0.0106 0.17% -9.60%
USDCHF 0.8985 0.0038 0.42% -5.66%
USDCAD 1.2162 0.0067 0.55% -10.46%
USDMXN 19.8660 0.1683 0.85% -10.43%
USDINR 73.2400 0.1700 0.23% -3.67%
USDBRL 5.1172 0.0620 1.23% 1.32%
USDRUB 71.8030 0.0730 0.10% 3.28%
DXY 90.5160 0.4410 0.49% -6.99%
USDKRW 1,114.0350 4.0861 0.37% -7.37%
USDZAR 13.7249 0.1302 0.96% -19.56%
USDSGD 1.3253 0.0016 0.12% -4.84%
USDHKD 7.7618 0.0009 0.01% 0.15%
Crosses Price Day Year
USDCNY 6.3950 0.0106 0.17% -9.60%
EURCNY 7.7431 -0.0296 -0.38% -2.74%
GBPCNY 9.0287 -0.0191 -0.21% 1.81%
AUDCNY 4.9274 -0.0214 -0.43% 1.44%
NZDCNY 4.5608 -0.0299 -0.65% -0.03%
CNYJPY 17.1488 0.0177 0.10% 12.98%
CNYARS 14.8751 -0.0185 -0.12% 51.69%
CNYBRL 0.8002 0.0084 1.06% 12.08%
CNYCAD 0.1902 0.0007 0.38% -1.01%
CNYCHF 0.1405 0.0004 0.27% 4.34%
CNYDKK 0.9603 0.0036 0.37% 2.62%
CNYHKD 1.2136 -0.0019 -0.15% 10.78%
CNYINR 11.4522 0.0076 0.07% 6.56%
CNYKRW 174.1967 0.3502 0.20% 2.47%
CNYMXN 3.1064 0.0212 0.69% -0.93%
CNYRUB 11.2275 -0.0072 -0.06% 14.24%
CNYSGD 0.2072 -0.0001 -0.05% 5.27%
CNYZAR 2.1461 0.0168 0.79% -11.02%



Chinese Yuan
The USDCNY exchange rate is a reference rate not used in actual currency trading. When investors or entities want to exchange dollars for the Chinese currency, they do so using the USDCNH exchange rate set in Hong Kong. The People's Bank of China sets the yuan's mid-point rate and the onshore yuan (USDCNY) is allowed to trade 2% higher or lower than the PBoC’s central reference rate. The offshore yuan (USDCNH) which trades outside the mainland is not controlled. The USDCNY and the USDCNH are not very different and usually trade less than a few cents apart. China's Foreign Exchange Trade System published a new yuan index, on December 11th, 2015 including 13 currencies and extended it on January 1st 2017 to 24. The CFETS RMB Index measures the value of yuan against a basket of 24 major currencies, with weights based on international trade and has an end-2014 base year. The USD accounts for the largest share (22.4 percent), followed by the euro (accounting for 16.3 percent) and the yen (11.5 percent). The index also includes the currencies of Hong Kong, UK, Australia, New Zealand, Singapore, Switzerland, Canada, Malaysia, Russia, Thailand, South Africa, South Korea, UAE, Saudi Arabia, Hungary, Poland, Denmark, Sweden, Norway, Turkey and Mexico. .