The RMB to USD exchange rate surges, reaching a three-year high

LightningPacketLoss · 2026-04-09T01:36:06+00:00

On April 8th, the offshore RMB against the US dollar surged significantly to 6.8269, reaching a new high in 2023. Analysts believe that the strengthening of China's economic resilience and loose monetary policy are the supporting factors, and the RMB is expected to fluctuate within the range of 6.80 to 6.97.

LightningPacketLoss

2026-04-09 01:36:06

Abstract generation in progress

On April 8, during intraday trading, the offshore Chinese yuan against the US dollar jumped sharply. According to Wind data, as of 14:15, the offshore Chinese yuan-to-US dollar exchange rate was 6.8269, up 286 basis points from the previous close. The intraday high was 6.8230, the highest level since April 2023.

The onshore Chinese yuan-to-US dollar exchange rate was 6.8268, up 329 basis points from the previous close. The intraday high was 6.8255 as well, also reaching the highest level since April 2023.

A research report from the National Bureau of Economic Research Center of Peking University analyzed that strengthened economic resilience in China reinforces the yuan’s fundamentals. At the same time, monetary policy divergence among major central banks in the US, Europe, Japan, and others has been evident. China has maintained a moderately accommodative stance and kept liquidity ample, further highlighting its relative policy advantage. Looking ahead to April, the yuan is expected to trade in a range of 6.80 to 6.97. The supporting factors include economic stability and technology growth.

(Editor: Wen Jing)

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