The offshore yuan depreciated past 6.8 against the dollar, closing on the lowest level in 23 months, as a shaky economy is pressuring China’s central bank to take more easing steps at a time the US Federal Reserve signaled a commitment to keep raising interest rates to get ahead of inflation. The People’s Bank of China is expected to cut the country’s benchmark lending rates for corporate and mortgage loans on Monday after unexpectedly slashing two key rates earlier this week, as it tries to revive demand and counter signs of a slowing economy. Goldman Sachs and Nomura downgraded their forecasts for China’s GDP on Thursday, citing weaker demand, Covid-related uncertainties, and power shortages. However, analysts warned that the PBOC has little room to maneuver amid persistent inflationary pressures, rising global interest rates, and the risk of increased capital outflows.

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 August of 2022.

The Chinese Yuan is expected to trade at 6.79 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 6.95 in 12 months time.

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Chinese Yuan


Majors Price Day Year
EURUSD 1.0040 -0.0050 -0.50% -14.19%
GBPUSD 1.1830 -0.0103 -0.87% -13.17%
AUDUSD 0.6875 -0.0038 -0.56% -3.67%
NZDUSD 0.6171 -0.0089 -1.42% -9.78%
USDJPY 136.8260 1.0090 0.74% 24.64%
USDCNY 6.8355 0.0339 0.50% 5.18%
USDCHF 0.9588 0.0020 0.21% 4.57%
USDCAD 1.2994 0.0047 0.36% 1.35%
USDMXN 20.1643 0.0603 0.30% -1.08%
USDINR 79.9200 0.1700 0.21% 7.50%
USDBRL 5.1667 -0.0007 -0.01% -3.91%
USDRUB 58.5000 -0.5000 -0.85% -21.23%
USDKRW 1,336.4100 9.5700 0.72% 13.72%
DXY 108.0969 0.6129 0.57% 15.62%
USDTRY 18.1026 0.0130 0.07% 113.34%
USDSEK 10.5887 0.0910 0.87% 20.43%
USDPLN 4.7270 0.0440 0.94% 20.73%
USDNOK 9.8092 0.0797 0.82% 8.75%
USDZAR 17.0199 0.1650 0.98% 11.28%
USDDKK 7.4070 0.0355 0.48% 16.56%
USDSGD 1.3910 0.0050 0.36% 2.21%
USDILS 3.2663 0.0210 0.65% 0.90%
USDHKD 7.8464 0.0020 0.03% 0.71%
USDCLP 944.0500 15.6500 1.69% 20.12%
USDPKR 214.5000 -0.1500 -0.07% 30.75%
USDCZK 24.5289 0.1469 0.60% 12.41%
USDHUF 402.4590 -0.1710 -0.04% 34.54%
Crosses Price Day Year
USDCNY 6.8355 0.0339 0.50% 5.18%
EURCNY 6.8626 -0.0088 -0.13% -9.76%
GBPCNY 8.0862 -0.0509 -0.62% -8.68%
AUDCNY 4.6998 -0.0112 -0.24% 1.24%
NZDCNY 4.2250 -0.0328 -0.77% -4.95%
CNYJPY 20.0170 0.0486 0.24% 18.50%
CNYARS 19.9644 0.0074 0.04% 33.14%
CNYBRL 0.7573 -0.0024 -0.32% -9.09%
CNYCAD 0.1903 0.0001 0.07% -3.56%
CNYCHF 0.1402 -0.0004 -0.27% -0.63%
CNYDKK 1.0832 -0.0006 -0.06% 10.54%
CNYHKD 1.1498 -0.0035 -0.31% -4.09%
CNYINR 11.6926 -0.0325 -0.28% 2.19%
CNYKRW 194.0528 -1.0249 -0.53% 7.22%
CNYMXN 2.9650 0.0093 0.31% -5.47%
CNYRUB 8.6466 -0.0278 -0.32% -24.00%
CNYSGD 0.2036 -0.0002 -0.10% -2.79%
CNYZAR 2.4885 0.0104 0.42% 6.40%


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. .
Actual Previous Highest Lowest Dates Unit Frequency
6.84 6.80 8.73 1.53 1981 - 2022 Daily