The offshore yuan steadied near 7.28 per dollar amid efforts by Beijing to support the currency through swaps by state-owned banks in offshore markets to suck out yuan and raise the cost of shorting the currency, as reported by Reuters. The People’s Bank of China has also been setting stronger-than-expected daily midpoint rates on the yuan in recent sessions. Still, the currency remains close to its lowest levels in over nine months as the PBOC lowered its one-year loan prime rate by 10 basis points to a record low of 3.45% on August 21, but kept the five-year loan prime rate unchanged at 4.2%. The central bank also slashed its seven-day reverse repo and one-year medium-term lending facility rates earlier this month. Moreover, heightened economic uncertainties and a deepening property sector crisis in China, as well as a widening interest rate differential weighed further on the yuan.

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 2023.

The Chinese Yuan is expected to trade at 7.38 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 7.65 in 12 months time.

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Chinese Yuan


Majors Price Day Year Date
EURUSD 1.0917 -0.0007 -0.06% 9.79% Aug/31
GBPUSD 1.2716 -0.0002 -0.02% 10.17% Aug/31
AUDUSD 0.6480 0.0004 0.06% -4.50% Aug/31
NZDUSD 0.5954 -0.0001 -0.01% -2.07% Aug/31
USDJPY 146.0000 -0.2400 -0.16% 4.14% Aug/31
USDCNY 7.2990 -0.0003 0% 5.55% Aug/31
USDCHF 0.8787 0.0008 0.09% -10.52% Aug/31
USDCAD 1.3540 0.0009 0.06% 2.95% Aug/31
USDMXN 16.7607 0.0327 0.20% -16.89% Aug/31
USDINR 82.6460 0.0390 0.05% 3.73% Aug/31
USDBRL 4.8890 0 0% -6.73% Aug/31
USDRUB 96.5175 0.3720 0.39% 62.90% Aug/31
USDKRW 1,323.9800 0.4900 0.04% -2.35% Aug/31
USDTRY 26.7137 0.0269 0.10% 46.78% Aug/31
DXY 103.1861 0.0291 0.03% -5.93% Aug/31
USDSEK 10.8446 0.0078 0.07% 0.44% Aug/31
USDPLN 4.0931 0.0045 0.11% -13.61% Aug/31
USDNOK 10.5978 0.0046 0.04% 5.58% Aug/31
USDZAR 18.7242 0.0451 0.24% 8.42% Aug/31
USDDKK 6.8259 0.0035 0.05% -8.72% Aug/31
USDSGD 1.3506 0.0012 0.09% -3.70% Aug/31
USDILS 3.7853 0.0078 0.21% 12.04% Aug/31
USDHKD 7.8459 -0.0011 -0.01% -0.03% Aug/31
USDCLP 850.0600 0.0100 0.001% -5.19% Aug/31
USDPKR 304.3000 0.6500 0.21% 39.78% Aug/31
USDCZK 22.0629 0.0439 0.20% -10.32% Aug/31
USDHUF 347.6200 0.5300 0.15% -13.88% Aug/31
Crosses Price Day Year Date
USDCNY 7.2990 -0.0003 0% 5.55% Aug/31
EURCNY 7.9685 -0.0104 -0.13% 16.13% Aug/31
GBPCNY 9.2816 -0.0029 -0.03% 16.58% Aug/31
AUDCNY 4.7302 -0.0002 0% 1.12% Aug/31
NZDCNY 4.3456 -0.0024 -0.06% 2.85% Aug/30
CNYJPY 19.9990 -0.0357 -0.18% -1.36% Aug/31
CNYARS 48.0576 0.0655 0.14% 140.28% Aug/29
CNYBRL 0.6701 0.0038 0.57% -9.44% Aug/30
CNYCAD 0.1855 -0.0007 -0.35% -2.44% Aug/30
CNYCHF 0.1205 -0.0002 -0.17% -14.95% Aug/30
CNYDKK 0.9350 -0.0057 -0.60% -12.71% Aug/30
CNYHKD 1.0756 -0.0020 -0.18% -5.37% Aug/30
CNYINR 11.3336 -0.0061 -0.05% -1.55% Aug/30
CNYKRW 181.4027 0.3975 0.22% -6.96% Aug/30
CNYMXN 2.2953 -0.0104 -0.45% -21.28% Aug/30
CNYRUB 13.1786 0.0748 0.57% 54.24% Aug/30
CNYSGD 0.1850 -0.0003 -0.18% -8.57% Aug/30
CNYZAR 2.5580 0.0217 0.85% 3.25% Aug/30


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
7.30 7.30 8.73 1.53 1981 - 2023 Daily