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    Chinese Renmimbi CNY Forecasts 2021

    The Chinese government has announced that it will gradually increase the flexibility of the CNY exchange rate.

    Updated: Oct 09, 2021  
     

    1 USD = 6.4009 CNY
    Sell USD  →  Buy CNY
    USD to CNY at 6.4047 is 0.8% below its 90-day average, range 6.3826-6.5015.
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    90-DAYLOW

    CNY outlook

    In October 2021 the yuan is back up to around 6.4 per US dollar, but with market sentiment worsening due to the massive Chinese Evergrande debt problems.

    China’s Central Bank has pumped more liquidity into the domestic markets amidst the uncertainty over the property developer’s debt saga.

    USD/CNY wasChangePeriod
    6.4281
    13 Oct 2021
    0.6% 2 Weeks
    6.4564
    29 Jul 2021
    1% 90 Days
    6.7055
    27 Oct 2020
    4.7% 1 Year
    6.7769
    28 Oct 2016
    5.7% 5 Years
    6.3620
    30 Oct 2011
    0.5% 10 Years
    8.2758
    01 Nov 2001
    22.8% 20 Years
    USD/CNY change over periods to 27-Oct-2021

     

    Chinese Renmimbi – Forecasts

    Tightly controlled by the PBOC the Chinese yuan has appreciated 8 percent since its lowest value last year, hitting a low of 7.1 in mid 2020 breaking the symbolic and closely watched USD/CNY = 7.0 exchange rate.

    You can also read our full Foreign Exchange Guide to China.

     

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    Posted under: #Forecasts #CNY

    Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors should not be taken as a reference to buy or sell any financial product.