Chinese Renmimbi CNY Forecasts
The Chinese government has announced that it will gradually increase the flexibility of the CNY exchange rate.
Updated: Oct 06, 2022 
BER Research
BER Research The Chinese government has announced that it will gradually increase the flexibility of the CNY exchange rate.
BER Research In the final quarter of the year China’s yuan has weakened past the key 7 per US dollar level.
For two years until April 2022 the yuan has steadily strengthened to 6.3 per US dollar, but then the PBOC has abruptly allowed CNY to drop with market sentiment worsening towards China’s economy due to continuing Covid-zero restrictions and a slowing economy.
| Date | USD/CNY | Change | Period |
|---|---|---|---|
18 Nov 2022 | 7.1198 | 1.3% ▼ | 2 Week |
03 Sep 2022 | 6.9000 | 1.8% ▲ | 3 Month |
02 Dec 2021 | 6.3771 | 10.2% ▲ | 1 Year |
03 Dec 2017 | 6.6356 | 5.9% ▲ | 5 Year |
04 Dec 2012 | 6.2294 | 12.8% ▲ | 10 Year |
07 Dec 2002 | 8.2735 | 15.1% ▼ | 20 Year |
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.