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Chinese Yuan Breaks 6.8000 Against U.S. Dollar, Hits Highest Since February 2023

2026-05-11 10:44:14

According to Goldman Sachs, the Chinese yuan strengthened past 6.8000 against the U.S. dollar on May 11, reaching its highest level since mid-February 2023. Goldman Sachs forecasts the yuan will appreciate to 6.5 within the next 12 months, representing approximately 5% appreciation, as the U.S. dollar index faces further downside risks. Meanwhile, cross-border yuan settlement surged 14% year-over-year in the first quarter, and offshore yuan bond issuances by foreign entities exceeded 26.2 billion yuan in April, roughly four times the prior-year level.

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