The renminbi (RMB, also known as Chinese yuan; ISO code: CNY) is the official currency of the People's Republic of China.[1] Although it is not a freely convertible currency, and has an official exchange rate, the CNY plays an important role in the world economy and international trade. This page lists past and present CNY exchange rates with other major currencies, in both nominal and purchasing power parity (PPP) terms.

Background

After taking control of economic policy in 1978, Deng Xiaoping opened up China to foreign trade and investment, permitting a large influx of foreign capital and sparking rapid economic growth. In 2010, China's annual level of inward foreign direct investment (FDI) reached a record US$106 billion.[2] As of 2013, China is the world's second-largest economy, with an estimated nominal gross domestic product (GDP) of US$8.25 trillion and a total international trade value of US$3.64 trillion.[3][4] Since the mid-1990s, the official CNY exchange rate has been adopted by numerous international financial and governmental organizations, such as the International Monetary Fund (IMF), the World Bank and the United Nations (UN). The perceived undervaluing of the CNY by the Chinese government has led to tensions between China and other major economies.[5][6] In August 2019, US President Donald Trump designated China a currency manipulator, a designation not supported by the IMF.[7]

Nominal exchange rates

List of nominal exchange rates

Graph showing the official exchange rate of 1 CNY to the US dollar between 1981 and 2009.
Official historical average exchange rates of Renminbi
for major foreign currencies by year[8]
(Chinese yuan per 100 foreign currency units)
YearUSDJPYHKDEuro
2018661.745.989084.428780.16
2017675.186.024486.643763.03
2016664.236.124385.578734.26
2015622.845.154380.34691.41
2014614.285.819679.220816.51
2013619.326.332379.845822.19
2012631.257.903781.376810.67
2011645.888.105082.968900.11
2010676.957.727987.130897.25
2009683.107.298688.123952.70
2008694.516.742789.1901,022.27
2007760.406.463297.4591,041.75
2006797.186.8570102.6201,001.90
2005819.177.4484105.3001,019.53
2004827.687.6552106.2301,029.00
2003827.707.1466106.240936.13
2002827.706.6237106.070800.58
2001827.706.8075106.080
2000827.847.6864106.180
1999827.837.2932106.660
1998827.916.3488106.880
1997828.986.8600107.090
1996831.427.6352107.510
1995835.108.9225107.960
1994861.878.4370111.530
1993576.205.202074.410
1992551.464.360871.240
1991532.333.960268.450
1990478.323.323361.390
1989376.512.736048.280
1988372.212.908247.700
1987372.212.579947.740
1986345.282.069444.220
1985293.661.245737.570
1984232.700.978029.710
1983197.570.831827.360
1982189.250.760731.150
1981170.500.773530.410

List of World Bank nominal exchange rates

World Bank annual average middle exchange rate for US dollar to Chinese yuan[9]
( 1 US dollar to Chinese yuan )
YearUS dollarYearUS dollarYearUS dollarYearUS dollar
201920048.276819894.940019741.9612
20186.98 20038.277019884.860019731.9894
20176.89 20028.277019874.460019722.2451
201620018.277119863.450019712.4618
201520008.278419852.940019702.4618
201419998.278319842.800019692.4618
201319988.279119832.610019682.4618
20126.312319978.289819822.620019672.4618
20116.461519968.314219812.520019662.4618
20106.770319958.350719802.400019652.4618
20096.830019948.618719792.300019642.4618
20086.945119938.021319782.460019632.4618
20077.607519926.370019771.857819622.4618
20067.973419915.740019761.941419612.4618
20058.194319905.230019751.859819602.4618

List of IMF nominal exchange rates

International Monetary Fund annual average middle exchange rate for US dollar to Chinese yuan[10]
( 1 US dollar to Chinese yuan )
YearUS dollarYearUS dollarYearUS dollarYearUS dollar
201920096.831019998.278319893.7651
201820086.948019988.279019883.7221
201720077.607119978.289819873.7221
201620067.973519968.314219863.4528
201520058.194219958.351419852.9367
201420048.276819948.618719842.3200
20136.1520038.277019935.762019831.9757
20126.312420028.276919925.514619821.8925
20116.461420018.277119915.323419811.7045
20106.770420008.278419904.783219801.4984

List of purchasing power parity exchange rates

Purchasing power parity (PPP) figures vary based on inflation and the revision of census figures in different periods. The following is a list of CNY exchange rates based on PPP, estimated according to the International Monetary Fund's World Economic Outloo wek (WEO) database from 2006–present. The exchange rate shown is Intl$. 1 to Chinese yuan (CNY).

List of CNY–$Intl. PPP exchange rates by periods (IMF's WEO data)[11]
Data periodApr.2012Sept.2011Apr.2011Oct.2010Oct.2009Oct.2008Oct.2007Sept.2006
20124.23824.13144.08253.97493.72103.9959
20114.17314.04924.06623.93663.71133.9415
20103.96433.93273.94603.86203.71393.8823
20093.76033.75933.76383.76383.72413.7930
20083.82313.82243.82103.82173.79323.69362.1728
20073.62643.62453.62203.62263.61413.54712.12721.9641
20063.46683.46613.46523.46553.46033.46172.07811.9427
20053.44763.44763.44763.44763.44763.44762.07671.9452
20043.40323.40323.40323.40323.40323.40322.05791.9141
20033.26673.26673.26673.26673.26673.26671.98021.8374
20023.25123.25053.25213.25513.25223.25131.97091.8270
20013.28423.28393.28553.28863.28583.28881.99361.8481
20003.29083.29023.29223.29503.29263.30002.00041.8544
19993.29513.29353.29553.29833.29603.30382.00271.8565
19983.38673.38443.38653.38933.38703.39422.05751.8991
19973.45563.45223.45443.45733.45493.46152.09831.9372
19963.46413.46073.46303.46593.46353.46672.10141.9401
19953.31693.31333.31563.31843.31593.31882.01181.8573
19942.97782.97472.97592.97842.97702.97771.80501.6664
19932.52062.51842.51942.52152.52022.52141.52841.4111
19922.23722.23592.23682.23872.23772.24081.34391.2353
19912.11672.11472.11552.11732.11642.11791.27421.1712
19902.05082.04932.05032.05202.05092.05141.23561.1357
19892.01322.01102.01182.01352.01322.01311.21431.1162
19881.92541.92331.92401.92571.92481.92541.15821.0646
19871.77681.77491.77561.77711.77581.77641.06830.9819
19861.73871.73681.73751.73901.73731.73541.04450.9601
19851.69661.69471.69541.69691.69611.69331.02060.9381
19841.58611.58441.58501.58631.58531.58330.95480.8776
19831.56831.56651.56721.56851.56711.56540.94440.8681
19821.61411.61241.61301.61441.61281.61120.97140.8929
19811.00731.00621.00661.00741.74781.74741.05350.9684
19801.22511.22381.22431.22531.86951.86021.12161.0354

References

  1. ↑ Excluding the Special Administrative Regions of Hong Kong and Macau, which use the Hong Kong dollar and Macanese pataca, respectively.
  2. ↑ P. Ambre (19 January 2011). "China scores number one on FDI penetration, 16% rise in 2010". Stockmarketdigital.com. Archived from the original on 6 December 2011. Retrieved 1 November 2011.
  3. ↑ 2011 China trade data. GTIG.com. 12 January 2012. Retrieved 22 April 2012.
  4. ↑ "World Economic Outlook Database: China". International Monetary Fund. October 2012. Retrieved 2 January 2013.
  5. ↑ "Obama should call China a currency manipulator: Romney aide". Reuters. 24 September 2012. Retrieved 6 October 2012.
  6. ↑ "US says China not a currency manipulator". BBC. 27 November 2012. Retrieved 28 November 2012.
  7. ↑ New IMF report doesn’t back Trump’s currency manipulation charge against China
  8. ↑ Exchange rates of 1981-1984: see "17-2 Average Exchange Rate of RMB Yuan against Main Convertible Currencies (Middle Rate)" China Statistical Yearbook 2001; exchange rates of 1985-2014: see China Statistical Yearbook 2015 / Financial Intermediation / 19-8 Reference Exchange Rate of Renminbi (Period Average); exchange rate of 2015: see Statistical Communiqué of the People's Republic of China on the 2015 National Economic and Social Development
  9. ↑ World Bank annual average nominal exchange rates are from wORLD bANK/WDI DATA
  10. ↑ IMF annual average nominal exchange rates are from International Monetary Fund/WEO DATA
  11. ↑ CNY PPP is estimated according to the International Monetary Fund's World Economic Outlook database.
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