China Renminbi | CNY to USD last = 6.998 1w: +0.01 (0.2%)
202120222023
Consensus (median)6.57.17.2
High estimate8.18.27.6
Low estimate5.866.3
Standard Deviation0.60.60.5
Count of Estimates22135
History
Forecast
Forecast Summary
RankN/S0*1*2*3*4*5*
Strong Weak       
Weakening       
Flat       
Strengthening       
Strong Stren.       
Forecast Distribution
Company plot
[Negative]

I expect that Yuan will be weaker on the back of narrowing interest rate between US and China (as a result of US rates increasing) and recent cut of RRR (reserve requirement ratios) by People's Bank of China.

[Positive]

My confidence in CNY built on China's sustainable economy (with stable growth at 6.5%), which supported by (1) recovery of global economy and China's export growth, (2) permanent increase in consumption in the country, (3) stable growth of foreign direct investment, etc. Also the People's Bank of China gradually relaxes its monetary policy tools, for which cause exchange rate formation mechanism transfers from crisis management to normal conditions. Other ways of saying, PBoC by weakening control allows the market to play a more important role, which will have a positive impact on RMB's value.