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    Chinese Renmimbi CNY Forecasts

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

    Updated: Jun 21, 2022  
     

    1 USD = 6.6980 CNY
    Sell USD  →  Buy CNY
    USD to CNY at 6.6945 is 1.0% above its 90-day average 6.6254 with range 6.3596-6.7890.
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    14-DAYLOW

    CNY 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.

    DateUSD/CNYChangePeriod
    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
    USD/CNY change over periods to 04-Jul-2022

     

    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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    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.