The USD/CNY exchange rate has shown a gradual depreciation of the Chinese Yuan against the US Dollar over the past 20 years, starting at 8.19 CNY in 2005 and reaching 7.19 CNY in 2025. This represents a total change of -1.00 CNY or -12.3% over the two-decade period, with a compound annual growth rate (CAGR) of -0.7%. The exchange rate reached its highest level at 8.19 CNY in 2005 and its lowest at 6.15 CNY in 2013. The largest single movement occurred from 2007 to 2008, with an 8.6% depreciation from 7.61 CNY to 6.95 CNY. Despite fluctuations, the overall trend indicates a modest but consistent strengthening of the US Dollar relative to the Chinese Yuan over the past twenty years.
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Claight forecast CLAIGHT VIEW
The Claight forecast extends the pair toward its 10-year average of 6.8295 CNY using gradual mean reversion (20% per year), a standard baseline for exchange rates that tend to revert toward long-run fair value. Rate paths are volatile and sensitive to interest-rate differentials, inflation and capital flows; this is a baseline, not a point prediction.
Data table
| Year | CNY |
|---|---|
| 2005 | 8.19 |
| 2006 | 7.97 |
| 2007 | 7.61 |
| 2008 | 6.95 |
| 2009 | 6.83 |
| 2010 | 6.77 |
| 2011 | 6.46 |
| 2012 | 6.31 |
| 2013 | 6.15 |
| 2014 | 6.16 |
| 2015 | 6.29 |
| 2016 | 6.64 |
| 2017 | 6.76 |
| 2018 | 6.62 |
| 2019 | 6.91 |
| 2020 | 6.90 |
| 2021 | 6.45 |
| 2022 | 6.73 |
| 2023 | 7.08 |
| 2024 | 7.20 |
| 2025 | 7.19 |
Source: European Central Bank (ECB) euro reference rates, accessed 2026-07-04. Licence: Free with attribution. Claight analysis based on this data.