RMB Surpasses 6.7 Against USD, Analysts Predict 'Rise Then Stabilize' Trend in 2026

Huo Xing Finance reports that on September 18, according to market data, the RMB exchange rate achieved a significant breakthrough today, with both onshore and offshore RMB spot rates against the US dollar rising above the 6.70 level during trading. The offshore RMB reached a high of 6.6933, while the onshore RMB peaked at 6.6964, both marking the highest levels since February 2023. Regarding the RMB’s outlook for the remainder of the year, Wang Qing, Chief Macro Analyst at Dongfang Jincheng, expects the RMB exchange rate to maintain a stable-to-strong trend in the short term, with future attention focused on changes in China’s export growth and how monetary policy adjustments by major overseas economies may impact the US dollar index. In terms of trend dynamics, Wang anticipates that the RMB will largely continue to move inversely to the US dollar with relatively narrow fluctuations. “We expect the core trading range for the RMB before year-end to be between 6.7 and 6.9, with the full-year RMB exchange rate trajectory likely following a pattern of ‘initial appreciation followed by stabilization.’”