Monday, June 8, 2026 - China's yuan reached a 32-month high as the central bank adjusted its midpoint guidance to manage appreciation. To curb the yuan's rapid rise, authorities encouraged dollar purchases by removing risk reserves for forex forward contracts. Additionally, the central bank plans to better regulate cross-border yuan financing between banks to promote offshore use of the currency.
| 1 $ = | Start | 06/08/2026 | Change | |
| Last 24 hours | 6.7656 元 or ¥ | ⇨ | 6.7656 元 or ¥ | +0% |
| Last week | 6.7653 元 or ¥ | ⇨ | 6.7656 元 or ¥ | +0.01% |
| Last month | 6.8008 元 or ¥ | ⇨ | 6.7656 元 or ¥ | -0.52% |
| Last year | 7.1894 元 or ¥ | ⇨ | 6.7656 元 or ¥ | -5.89% |
| Currency | 06/01/2026 | 06/08/2026 | Change | |
| Israeli Shekel (ILS) | 2.8217 ₪ | ⇨ | 2.929 ₪ | +3.81% |
| Brazilian Real (BRL) | 5.0384 R$ | ⇨ | 5.2016 R$ | +3.24% |
| Chilean Peso (CLP) | 892.37 $ | ⇨ | 920.71 $ | +3.18% |
| Venezuelan Bolívar (VES) | 548.69 Bs. | ⇨ | 562.59 Bs. | +2.53% |
| New Zealand Dollar (NZD) | 1.6851 NZ$ | ⇨ | 1.7217 NZ$ | +2.17% |
| Nicaraguan Córdoba (NIO) | 36.805 C$ | ⇨ | 36.61 C$ | -0.53% |
| Philippine Peso (PHP) | 61.912 ₱ | ⇨ | 61.581 ₱ | -0.53% |
| Nigerian Naira (NGN) | 1,369.4 ₦ | ⇨ | 1,361.1 ₦ | -0.6% |
| Seychellois Rupee (SCR) | 13.677 SR | ⇨ | 13.466 SR | -1.54% |
| Zambian Kwacha (ZMW) | 18.178 ZK | ⇨ | 17.56 ZK | -3.4% |
| See also: 24h, monthly and yearly currency moves | ||||
| Currency name | Chinese Yuan |
| Symbol | 元 or ¥ |
| Also known as | CNY, Renminbi (RMB), Yuan, ¥1 = 10 jiao = 100 fen |
| ISO code | CNY |
| Banknotes | ¥1, ¥5, ¥10, ¥20, ¥50, ¥100 |
| Coins | ¥0.1, ¥0.5, ¥1 |
| Central bank | People's Bank of China (PBOC) - Website: www.pbc.gov.cn |
| Countries | 1 country: China (capital: Beijing, major cities: Shanghai, Beijing, Shenzhen, Guangzhou) |
| Population | 1,400 mil. |
History
The history of Chinese money stretches back nearly 3,000 years to the Neolithic era. The earliest forms of currency were cowrie shells, which served as money in the Shang dynasty (c. 1600–1046 BC). Bronze cast coins — the characteristic round coins with square holes — appeared during the Zhou dynasty and remained in use for over two millennia.
China is widely credited with inventing paper money. During the Tang dynasty (7th century), merchants began depositing heavy copper coins with trusted agents and receiving paper receipts; by the Song dynasty (10th–13th century) the government was issuing standardised paper notes called jiaozi. Marco Polo's accounts of China's paper money astonished European readers who could not conceive of money without intrinsic metal value.
The modern yuan renminbi (CNY/RMB) — meaning "people's currency" — was introduced by the People's Republic of China in 1949, replacing the old gold yuan at massive ratios following hyperinflation under the Nationalist government. A fixed exchange rate of 2.46 yuan per US dollar was set in 1955.
After decades of a tightly managed peg, China revalued the yuan by 2.1% in July 2005 and announced it would trade in a narrow band against a basket of currencies. Gradual appreciation followed. In 2016, the yuan was included in the IMF's Special Drawing Rights basket, officially recognising it as a global reserve currency. The People's Bank of China manages the yuan within a daily trading band set against the US dollar.
Sources:
"History of Chinese currency", Wikipedia, https://en.wikipedia.org/wiki/History_of_Chinese_currency
"Renminbi", Wikipedia, https://en.wikipedia.org/wiki/Renminbi