The Chinese Yuan lost 0.01107 points or 0.17% to 6.52758 against the US Dollar on Friday after the onshore rate was set at 6.5315, retreating further from 30-month highs as heightened US-China tensions hit risk sentiment, following news that President Donald Trump is set to add around 80 more Chinese companies and their affiliates to the Commerce Department’s Entity List. On the policy side, congressional negotiators in Washington are still yet to agree on details of a $900 billion virus-relief bill, with Republican Senate Majority leader Mitch McConnell saying talks could spill into the weekend.
Historically, the Chinese Yuan reached an all time high of 8.73 in January of 1994. Chinese Yuan - data, forecasts, historical chart - was last updated on December of 2020.
The Chinese Yuan is expected to trade at 6.54 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 6.62 in 12 months time.