Exchange Rate in China
China - Exchange Rate
Yuan strengthens to over one-year high
The Chinese yuan (CNY) rallied to its strongest value since May 2016 in September, continuing a trend that started in June amid stronger-than-expected growth and a weakening of the U.S. dollar. On 8 September, the yuan closed the day at 6.48 CNY per USD, which represented a 3.4% appreciation over the same day of the previous month. It gained 6.7% year-to-date and was 2.7% higher compared to the same day last year. In the following days, the yuan lost some of the ground due to a strengthening USD.
Positive market sentiment has strengthened the Chinese currency. Economic growth surprised market analysis to the upside in H1 and, although recent indicators point to a deceleration in Q3, economic dynamics remain fairly strong overall. Moreover, the yuan benefited from diminishing fears of an open trade war with the U.S., tight capital controls and a weakening of the U.S. dollar. While the strengthening of the yuan highlights China’s healthy growth momentum, if sustained it could hurt the country’s all-important external sector.
FocusEconomics Consensus Forecast panelists expect the Chinese yuan to trade at 6.74 per USD at the end of 2017. For 2018, the panel projects that the CNY will trade at 6.81 per USD.
China - Exchange Rate Data
|Exchange Rate (vs USD)||6.05||6.21||6.49||6.95||6.51|
5 years of economic forecasts for more than 30 economic indicators.
China Exchange Rate Chart
Source: Thomson Reuters.
|Bond Yield||3.50||-0.40 %||Jul 17|
|Exchange Rate||6.71||-0.19 %||Jul 17|
|Stock Market||2,798||-0.34 %||Jul 17|
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July 16, 2018
Growth in China lost some steam in Q2, reflecting aggressive financial deleveraging and authorities’ efforts to crack down on shadow banking.
July 10, 2018
Consumer prices fell 0.1% from the previous month in June, continuing the downward trend seen since March.
June 30, 2018
The manufacturing purchasing managers’ index (PMI) published by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP) fell to 51.5% in June from 51.9% in May.
June 18, 2018
Trade tensions between China and the United States escalated further on 15 June after the two countries announced punitive trade tariffs affecting in total USD 100 billion in bilateral trade.
June 17, 2018
House prices in 70 large- and medium-sized cities rose 1.0% in June in month-on-month terms according to a weighted average index calculated by Thomson Reuters from data issued by the National Bureau of Statistics (NBS).