Chinese Renmimbi CNY Forecasts
The Chinese government has announced that it will gradually increase the flexibility of the CNY exchange rate.
BER ResearchCNY outlook
For two years until April 2022 the yuan has steadily strengthened to 6.3 per US dollar, but then the PBOC has abrutly allowed CNY to drop to 6.7 with market sentiment worsening towards China’s economy due to continuing strict Covid lockdowns.
| Date | USD/CNY | Change | Period |
|---|---|---|---|
20 Jun 2022 | 6.6925 | 0.1% ▲ | 2 Week |
05 Apr 2022 | 6.3641 | 5.3% ▲ | 3 Month |
04 Jul 2021 | 6.4731 | 3.5% ▲ | 1 Year |
05 Jul 2017 | 6.8012 | 1.5% ▼ | 5 Year |
06 Jul 2012 | 6.3649 | 5.3% ▲ | 10 Year |
09 Jul 2002 | 8.2756 | 19% ▼ | 20 Year |
Factors that affect the Chinese Renmimbi exchange rate
Tightly controlled by the PBOC the Chinese yuan has dropped to a 2-year low into mid 2022 heading towards 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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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.