Can the RMB exchange rate stabilize within the "6 yuan range"?

In the foreign exchange market, China’s currency, the Renminbi, is appreciating. On January 5th, the RMB to USD exchange rate reached around 6.97 yuan per dollar, marking the highest appreciation and dollar depreciation in over two years and eight months. Factors such as the continuously accumulating trade surplus have created pressure to sell dollars and buy RMB. To prevent an economic slowdown, Chinese authorities have shown restraint in allowing the RMB to appreciate.

Annual trade surplus exceeds $1 trillion for the first time

On December 30, 2025, the RMB briefly appreciated to 6.9870 yuan per dollar, breaking the important 7-yuan threshold and accelerating the appreciation. This was the first time since May 2023 that the RMB broke through the 7-yuan mark. On January 5, 2026, it further appreciated to 6.9770 yuan per dollar.

In mid-April 2025, during the peak of US-China trade tensions, the RMB exchange rate fell to 7.3518 yuan per dollar, reaching a 17-year and 4-month low. After the US and China reached an agreement to reduce tariffs in May 2025, the RMB began to recover, rising 5% from its April low.

Continue reading here: Nikkei Chinese Web

Japan Economic News Agency and the Financial Times merged into the same media group in November 2015. The alliance, formed by two newspapers from Japan and the UK founded in the 19th century, promotes collaboration across a wide range of fields under the banner of “high-quality, most powerful economic news.” As part of this effort, articles are exchanged between the Chinese websites of both newspapers.