The offshore yuan traded near 6.38 per US dollar on Friday and is set to end a volatile week lower, pressured mainly by a hawkish Federal Reserve. The latest Fed minutes revealed US policymakers considered quicker interest rate hikes and discussed quantitative tightening this year to tame persistently high inflation. The firm hawkish stance pushed US bond yields higher, hurting stocks and risk-sensitive currencies. Meanwhile, the People’s Bank of China is widely expected to continue easing monetary policy to cushion an economic slowdown. The yield spread between Chinese and US 10-year government bonds fell to its lowest since mid-2019 this week amid a jump in US Treasury yields, raising the risk of capital outflows and putting pressure on the yuan. Elsewhere, the PBOC-backed Financial News also warned of depreciation pressure on the yuan, attributing the weakness to shrinking yield advantages, a strengthening dollar, a narrowing trade surplus and uncertainties in global markets.

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 January of 2022.

The Chinese Yuan is expected to trade at 6.40 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 6.46 in 12 months time.

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Chinese Yuan

Majors Price Day Year
BTCUSD 40,777.6000 -770.2789 -1.85% 1.34%
EURUSD 1.1361 0.0066 0.58% -7.03%
GBPUSD 1.3590 0.0057 0.42% 0.21%
AUDUSD 0.7182 0.0019 0.26% -7.47%
NZDUSD 0.6773 0.0033 0.49% -6.41%
USDJPY 115.5310 -0.3300 -0.28% 11.14%
USDCNY 6.3820 -0.0154 -0.24% -1.27%
USDCHF 0.9183 -0.0037 -0.40% 3.72%
USDCAD 1.2644 -0.0085 -0.67% -0.31%
USDMXN 20.3657 -0.1450 -0.71% 1.94%
USDINR 74.2710 -0.1090 -0.15% 1.28%
USDBRL 5.6355 -0.0479 -0.84% 4.02%
USDRUB 75.6614 -0.5554 -0.73% 2.50%
DXY 95.7389 -0.5811 -0.60% 6.26%
USDKRW 1,197.7800 -3.0930 -0.26% 9.89%
USDTRY 13.8624 0.0715 0.52% 88.06%
USDSEK 9.0462 -0.1020 -1.11% 9.93%
USDPLN 3.9985 -0.0351 -0.87% 8.45%
USDNOK 8.8248 -0.0740 -0.83% 4.76%
USDZAR 15.5533 -0.1742 -1.11% 1.76%
USDDKK 6.5463 -0.0429 -0.65% 7.60%
USDSGD 1.3548 -0.0065 -0.48% 2.24%
USDILS 3.1000 -0.0126 -0.41% -2.75%
USDHKD 7.7966 -0.0041 -0.05% 0.52%
USDCLP 827.3300 -9.5200 -1.14% 16.22%
USDPKR 176.5500 -0.1000 -0.06% 10.41%
USDCZK 21.5072 -0.2022 -0.93% 0.73%
USDHUF 315.0000 -3.9800 -1.25% 7.41%
Crosses Price Day Year
USDCNY 6.3820 -0.0154 -0.24% -1.27%
EURCNY 7.2495 0.0280 0.39% -8.21%
GBPCNY 8.6658 0.0128 0.15% -1.12%
AUDCNY 4.5811 -0.0018 -0.04% -8.73%
NZDCNY 4.3238 0.0118 0.27% -6.67%
CNYJPY 18.0902 -0.0124 -0.07% 13.41%
CNYARS 16.1631 -0.0072 -0.04% 24.95%
CNYBRL 0.8827 -0.0057 -0.65% 10.55%
CNYCAD 0.1980 -0.0010 -0.50% 0.74%
CNYCHF 0.1439 -0.0003 -0.18% 4.29%
CNYDKK 1.0258 -0.0041 -0.40% 7.77%
CNYHKD 1.2213 0.0020 0.16% 9.65%
CNYINR 11.6453 0.0187 0.16% 3.76%
CNYKRW 186.9574 -0.7561 -0.40% 11.49%
CNYMXN 3.1892 -0.0169 -0.53% 3.87%
CNYRUB 11.8596 -0.0542 -0.45% 1.45%
CNYSGD 0.2123 -0.0005 -0.22% 7.63%
CNYZAR 2.4384 -0.0200 -0.81% 2.88%


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. .