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
editAfter 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
editList of nominal exchange rates
edit
| Official historical average exchange rates of Renminbi for major foreign currencies by year[8] (Chinese yuan per 100 foreign currency units) | |||||
| Year | USD | JPY | HKD | Euro | |
| 2018 | 661.74 | 5.9890 | 84.428 | 780.16 | |
| 2017 | 675.18 | 6.0244 | 86.643 | 763.03 | |
| 2016 | 664.23 | 6.1243 | 85.578 | 734.26 | |
| 2015 | 622.84 | 5.1543 | 80.34 | 691.41 | |
| 2014 | 614.28 | 5.8196 | 79.220 | 816.51 | |
| 2013 | 619.32 | 6.3323 | 79.845 | 822.19 | |
| 2012 | 631.25 | 7.9037 | 81.376 | 810.67 | |
| 2011 | 645.88 | 8.1050 | 82.968 | 900.11 | |
| 2010 | 676.95 | 7.7279 | 87.130 | 897.25 | |
| 2009 | 683.10 | 7.2986 | 88.123 | 952.70 | |
| 2008 | 694.51 | 6.7427 | 89.190 | 1,022.27 | |
| 2007 | 760.40 | 6.4632 | 97.459 | 1,041.75 | |
| 2006 | 797.18 | 6.8570 | 102.620 | 1,001.90 | |
| 2005 | 819.17 | 7.4484 | 105.300 | 1,019.53 | |
| 2004 | 827.68 | 7.6552 | 106.230 | 1,029.00 | |
| 2003 | 827.70 | 7.1466 | 106.240 | 936.13 | |
| 2002 | 827.70 | 6.6237 | 106.070 | 800.58 | |
| 2001 | 827.70 | 6.8075 | 106.080 | ||
| 2000 | 827.84 | 7.6864 | 106.180 | ||
| 1999 | 827.83 | 7.2932 | 106.660 | ||
| 1998 | 827.91 | 6.3488 | 106.880 | ||
| 1997 | 828.98 | 6.8600 | 107.090 | ||
| 1996 | 831.42 | 7.6352 | 107.510 | ||
| 1995 | 835.10 | 8.9225 | 107.960 | ||
| 1994 | 861.87 | 8.4370 | 111.530 | ||
| 1993 | 576.20 | 5.2020 | 74.410 | ||
| 1992 | 551.46 | 4.3608 | 71.240 | ||
| 1991 | 532.33 | 3.9602 | 68.450 | ||
| 1990 | 478.32 | 3.3233 | 61.390 | ||
| 1989 | 376.51 | 2.7360 | 48.280 | ||
| 1988 | 372.21 | 2.9082 | 47.700 | ||
| 1987 | 372.21 | 2.5799 | 47.740 | ||
| 1986 | 345.28 | 2.0694 | 44.220 | ||
| 1985 | 293.66 | 1.2457 | 37.570 | ||
| 1984 | 232.70 | 0.9780 | 29.710 | ||
| 1983 | 197.57 | 0.8318 | 27.360 | ||
| 1982 | 189.25 | 0.7607 | 31.150 | ||
| 1981 | 170.50 | 0.7735 | 30.410 | ||
List of World Bank nominal exchange rates
edit| World Bank annual average middle exchange rate for US dollar to Chinese yuan[9] ( 1 US dollar to Chinese yuan ) | |||||||
| Year | US dollar | Year | US dollar | Year | US dollar | Year | US dollar |
| 2019 | 2004 | 8.2768 | 1989 | 4.9400 | 1974 | 1.9612 | |
| 2018 | 6.98 | 2003 | 8.2770 | 1988 | 4.8600 | 1973 | 1.9894 |
| 2017 | 6.89 | 2002 | 8.2770 | 1987 | 4.4600 | 1972 | 2.2451 |
| 2016 | 2001 | 8.2771 | 1986 | 3.4500 | 1971 | 2.4618 | |
| 2015 | 2000 | 8.2784 | 1985 | 2.9400 | 1970 | 2.4618 | |
| 2014 | 1999 | 8.2783 | 1984 | 2.8000 | 1969 | 2.4618 | |
| 2013 | 1998 | 8.2791 | 1983 | 2.6100 | 1968 | 2.4618 | |
| 2012 | 6.3123 | 1997 | 8.2898 | 1982 | 2.6200 | 1967 | 2.4618 |
| 2011 | 6.4615 | 1996 | 8.3142 | 1981 | 2.5200 | 1966 | 2.4618 |
| 2010 | 6.7703 | 1995 | 8.3507 | 1980 | 2.4000 | 1965 | 2.4618 |
| 2009 | 6.8300 | 1994 | 8.6187 | 1979 | 2.3000 | 1964 | 2.4618 |
| 2008 | 6.9451 | 1993 | 8.0213 | 1978 | 2.4600 | 1963 | 2.4618 |
| 2007 | 7.6075 | 1992 | 6.3700 | 1977 | 1.8578 | 1962 | 2.4618 |
| 2006 | 7.9734 | 1991 | 5.7400 | 1976 | 1.9414 | 1961 | 2.4618 |
| 2005 | 8.1943 | 1990 | 5.2300 | 1975 | 1.8598 | 1960 | 2.4618 |
List of IMF nominal exchange rates
edit| International Monetary Fund annual average middle exchange rate for US dollar to Chinese yuan[10] ( 1 US dollar to Chinese yuan ) | |||||||
| Year | US dollar | Year | US dollar | Year | US dollar | Year | US dollar |
| 2019 | 2009 | 6.8310 | 1999 | 8.2783 | 1989 | 3.7651 | |
| 2018 | 2008 | 6.9480 | 1998 | 8.2790 | 1988 | 3.7221 | |
| 2017 | 2007 | 7.6071 | 1997 | 8.2898 | 1987 | 3.7221 | |
| 2016 | 2006 | 7.9735 | 1996 | 8.3142 | 1986 | 3.4528 | |
| 2015 | 2005 | 8.1942 | 1995 | 8.3514 | 1985 | 2.9367 | |
| 2014 | 2004 | 8.2768 | 1994 | 8.6187 | 1984 | 2.3200 | |
| 2013 | 6.15 | 2003 | 8.2770 | 1993 | 5.7620 | 1983 | 1.9757 |
| 2012 | 6.3124 | 2002 | 8.2769 | 1992 | 5.5146 | 1982 | 1.8925 |
| 2011 | 6.4614 | 2001 | 8.2771 | 1991 | 5.3234 | 1981 | 1.7045 |
| 2010 | 6.7704 | 2000 | 8.2784 | 1990 | 4.7832 | 1980 | 1.4984 |
List of purchasing power parity exchange rates
editPurchasing 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 period | Apr.2012 | Sept.2011 | Apr.2011 | Oct.2010 | Oct.2009 | Oct.2008 | Oct.2007 | Sept.2006 |
| 2012 | 4.2382 | 4.1314 | 4.0825 | 3.9749 | 3.7210 | 3.9959 | ||
| 2011 | 4.1731 | 4.0492 | 4.0662 | 3.9366 | 3.7113 | 3.9415 | ||
| 2010 | 3.9643 | 3.9327 | 3.9460 | 3.8620 | 3.7139 | 3.8823 | ||
| 2009 | 3.7603 | 3.7593 | 3.7638 | 3.7638 | 3.7241 | 3.7930 | ||
| 2008 | 3.8231 | 3.8224 | 3.8210 | 3.8217 | 3.7932 | 3.6936 | 2.1728 | |
| 2007 | 3.6264 | 3.6245 | 3.6220 | 3.6226 | 3.6141 | 3.5471 | 2.1272 | 1.9641 |
| 2006 | 3.4668 | 3.4661 | 3.4652 | 3.4655 | 3.4603 | 3.4617 | 2.0781 | 1.9427 |
| 2005 | 3.4476 | 3.4476 | 3.4476 | 3.4476 | 3.4476 | 3.4476 | 2.0767 | 1.9452 |
| 2004 | 3.4032 | 3.4032 | 3.4032 | 3.4032 | 3.4032 | 3.4032 | 2.0579 | 1.9141 |
| 2003 | 3.2667 | 3.2667 | 3.2667 | 3.2667 | 3.2667 | 3.2667 | 1.9802 | 1.8374 |
| 2002 | 3.2512 | 3.2505 | 3.2521 | 3.2551 | 3.2522 | 3.2513 | 1.9709 | 1.8270 |
| 2001 | 3.2842 | 3.2839 | 3.2855 | 3.2886 | 3.2858 | 3.2888 | 1.9936 | 1.8481 |
| 2000 | 3.2908 | 3.2902 | 3.2922 | 3.2950 | 3.2926 | 3.3000 | 2.0004 | 1.8544 |
| 1999 | 3.2951 | 3.2935 | 3.2955 | 3.2983 | 3.2960 | 3.3038 | 2.0027 | 1.8565 |
| 1998 | 3.3867 | 3.3844 | 3.3865 | 3.3893 | 3.3870 | 3.3942 | 2.0575 | 1.8991 |
| 1997 | 3.4556 | 3.4522 | 3.4544 | 3.4573 | 3.4549 | 3.4615 | 2.0983 | 1.9372 |
| 1996 | 3.4641 | 3.4607 | 3.4630 | 3.4659 | 3.4635 | 3.4667 | 2.1014 | 1.9401 |
| 1995 | 3.3169 | 3.3133 | 3.3156 | 3.3184 | 3.3159 | 3.3188 | 2.0118 | 1.8573 |
| 1994 | 2.9778 | 2.9747 | 2.9759 | 2.9784 | 2.9770 | 2.9777 | 1.8050 | 1.6664 |
| 1993 | 2.5206 | 2.5184 | 2.5194 | 2.5215 | 2.5202 | 2.5214 | 1.5284 | 1.4111 |
| 1992 | 2.2372 | 2.2359 | 2.2368 | 2.2387 | 2.2377 | 2.2408 | 1.3439 | 1.2353 |
| 1991 | 2.1167 | 2.1147 | 2.1155 | 2.1173 | 2.1164 | 2.1179 | 1.2742 | 1.1712 |
| 1990 | 2.0508 | 2.0493 | 2.0503 | 2.0520 | 2.0509 | 2.0514 | 1.2356 | 1.1357 |
| 1989 | 2.0132 | 2.0110 | 2.0118 | 2.0135 | 2.0132 | 2.0131 | 1.2143 | 1.1162 |
| 1988 | 1.9254 | 1.9233 | 1.9240 | 1.9257 | 1.9248 | 1.9254 | 1.1582 | 1.0646 |
| 1987 | 1.7768 | 1.7749 | 1.7756 | 1.7771 | 1.7758 | 1.7764 | 1.0683 | 0.9819 |
| 1986 | 1.7387 | 1.7368 | 1.7375 | 1.7390 | 1.7373 | 1.7354 | 1.0445 | 0.9601 |
| 1985 | 1.6966 | 1.6947 | 1.6954 | 1.6969 | 1.6961 | 1.6933 | 1.0206 | 0.9381 |
| 1984 | 1.5861 | 1.5844 | 1.5850 | 1.5863 | 1.5853 | 1.5833 | 0.9548 | 0.8776 |
| 1983 | 1.5683 | 1.5665 | 1.5672 | 1.5685 | 1.5671 | 1.5654 | 0.9444 | 0.8681 |
| 1982 | 1.6141 | 1.6124 | 1.6130 | 1.6144 | 1.6128 | 1.6112 | 0.9714 | 0.8929 |
| 1981 | 1.0073 | 1.0062 | 1.0066 | 1.0074 | 1.7478 | 1.7474 | 1.0535 | 0.9684 |
| 1980 | 1.2251 | 1.2238 | 1.2243 | 1.2253 | 1.8695 | 1.8602 | 1.1216 | 1.0354 |
References
edit- ^ Excluding the Special Administrative Regions of Hong Kong and Macau, which use the Hong Kong dollar and Macanese pataca, respectively.
- ^ 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.
- ^ 2011 China trade data. GTIG.com. 12 January 2012. Retrieved 22 April 2012.
- ^ "World Economic Outlook Database: China". International Monetary Fund. October 2012. Retrieved 2 January 2013.
- ^ "Obama should call China a currency manipulator: Romney aide". Reuters. 24 September 2012. Retrieved 6 October 2012.
- ^ "US says China not a currency manipulator". BBC. 27 November 2012. Retrieved 28 November 2012.
- ^ New IMF report doesn’t back Trump’s currency manipulation charge against China
- ^ 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
- ^ World Bank annual average nominal exchange rates are from wORLD bANK/WDI DATA
- ^ IMF annual average nominal exchange rates are from International Monetary Fund/WEO DATA
- ^ CNY PPP is estimated according to the International Monetary Fund's World Economic Outlook database.