A CAM RMB MM

Onshore RMB closes at 6.7979 vs USD, up 73 points from previous close

Onshore RMB/USD Closes at 6.7878, Up 25 Points

China's New RMB Loans in April Reach 859 Billion Yuan

Significant Increase in RMB and Foreign Currency Deposits in the First Four Months

Renminbi to US Dollar Mid-price Rises to 6.8401

Renminbi to US Dollar Central Parity Rate Lowered by 5 Points

RMB Cross-border Payment Hits New High and Bilateral Swap Usage Increases

CFETS publishes the rising RMB exchange rate index

RMB Loan Balance Grew by 5.7% Year-over-Year in Q1 2026

CBR Proposes Banks to Hold RMB Reserves

Onshore CNY/USD Officially Closed at 6.8239, Up 103 Points from Previous Day

PBOC sets RMB exchange rate at its highest level since March 24, 2023

Renminbi to US Dollar midpoint quoted at 6.8674, down 24 points

Renminbi-to-US Dollar Midpoint Rate Decreased by 15 Basis Points

CFETS announces a downward adjustment in the central parity rate of the Renminbi against the US Dollar

Renminbi Exchange Rate Rebounds to Near One-Week High

CNY Exchange Rate Index Dropped by 0.37 Weekly

Onshore CNY/USD closed up 46 points in night session

PBOC Allows 2% Fluctuation Range for RMB Exchange Rate

HINSANG GROUP

RIVERINE CHINA

PASHUN INT RTS

BRAINAURORA-B

SOFTMEDX

GOLDENPOWER

ZHONGKE GROUP

VISION SYNERGY

GEMILANG INTL

GHPC

HSBC

GS-C

GS-D

03161

Several brokers have raised their RMB forecasts, citing China's export competitiveness and stable US trade relations. HSBC increased its year-end forecast to 6.65 per USD, while Deutsche Bank raised theirs to 6.55. Goldman Sachs predicts USD/CNY will reach 6.5 within 12 months, up from previous estimates, supported by China's trade surplus and strong exports.

- Several brokers have raised their forecasts for the RMB due to China's export competitiveness and stable trade relations with the US.  
- As of May 19, the RMB appreciated approximately 2.6% against the USD, prompting HSBC and Deutsche Bank to increase their year-end predictions to 6.65 and 6.55 per USD, respectively, citing strong exports and domestic demand recovery.  
- Goldman Sachs also anticipates continued appreciation, adjusting its forecasts for USD/CNY to 6.8, 6.7, and 6.5 over the next twelve months, supported by China's significant trade surplus.

AASTOCKS News

GOLDMAN SACHS GROUP INC DEP SHS REPSTG 1/1000TH PRF SER C

GOLDMAN SACHS GROUP INC DEP REP 1/1000TH PRF D

Deutsche Bank AG

HSBC Holdings Plc

GOLDMAN SACHS GROUP INC DEP SHR REP 1/1000TH PFD SER A

HSBC HOLDINGS

Goldman Sachs

China Southern CSI Banks ETF

WP CSI Banks ETF

Huaan CSI Banks ETF

HSBC Holdings plc ADRhedged

Hwabao WP CSI Banks ETF

Fullgoal CSI 800 Banks ETF

China Merchants CSI BANK AH Price ETF

ChinaAMC CSI Banks ETF

ChinaAMC SSE Financials Sector ETF Initiating Fund

HSBC 5xShortSG241213

Deutsche Bank AG Subscription Rights

Deutsche Postbank AG

GS Hldg R

Brokers Raise RMB Forecasts; G Sachs Expects USD/CNY at 6.5 within 12 Mths

83161

XBJF

USDU

The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. more to come

Investinglive

A CAM RMB MM-R

WisdomTree, Inc.

Wtree Bbg Usd Bull

Invesco DB US Dollar Index Bullish Fund

PBOC sets USD/ CNY reference rate for today at 6.8375 (vs. estimate at 6.7909)

83192

03192

CNYA

The People's Bank of China is expected to set the USD/CNY reference rate at 6.8086, a key indicator in Asian forex markets. The PBOC operates a managed floating exchange rate system, allowing the yuan to trade within a 2% band around a daily midpoint. This midpoint is influenced by various factors, including previous closing prices and economic conditions. The fixing serves as a policy signal, indicating the PBOC's stance on currency strength or weakness, especially during global volatility.

A BOS RMB MM-R

A BOS RMB MM

ISHRS MSCI China

PBOC is expected to set the USD/CNY reference rate at 6.8086 – Reuters estimate

The yuan remained stable during the summit between Chinese President Xi Jinping and U.S. President Donald Trump, which yielded expected outcomes without significant market disruptions. Discussions centered on trade and economic relations, with both leaders reaffirming their commitment to dialogue. Analysts noted that the yuan's stability reflects a cautious approach by both nations in managing economic ties.

CoinLive

Yuan Remains Stable Amid Xi-Trump Summit

The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. more to comeEarlier:Here is Trump's schedule in China today, Friday, May 15, 2026

PBOC sets USD/ CNY reference rate for today at 6.8415 (vs. estimate at 6.7976)

83122

03122

03420

The People's Bank of China reported that new RMB loans reached RMB8.59 trillion in the first four months of 2026, slightly below the forecast of RMB8.9 trillion. Household loans fell by RMB490.2 billion, while corporate loans rose by RMB8.99 trillion. By the end of April, foreign currency loans totaled USD551.5 billion, marking a 3.4% year-on-year increase, with an additional USD6.5 billion in foreign currency loans issued during the period.

- The People's Bank of China reported that in the first four months of this year, RMB loans increased by 8.59 trillion yuan.  
- By sector, household loans decreased by 490.2 billion yuan, while corporate loans increased by 8.99 trillion yuan.  
- As of the end of April, the balance of foreign currency loans was 551.5 billion USD, marking a 3.4% year-on-year growth, with an increase of 6.5 billion USD in the first four months.

A CSOP RMB MM-R

A CSOP RMB MM

A VP RMB MM

PBOC: New RMB Loans at RMB8.59T in 4M26, vs Forecast RMB8.9T

000001

399001

000300

The People's Bank of China announced that at the end of April, Mainland China's broad money (M2) balance stood at RMB353.04 trillion, up 8.6% YoY, compared with the market expectation of an 8.5% increase. Narrow money (M1) balance was RMB114.58 trillion, up 5% YoY. Currency in circulation (M0) balance was RMB14.75 trillion, up 12.2% YoY. In the first four months, net cash injection amounted to RMB653 billion. (su/da)

- As of the end of April, China's broad money supply (M2) amounted to 353.04 trillion yuan, reflecting an 8.6% year-on-year increase, surpassing market expectations of 8.5%.  
- The narrow money supply (M1) reached 114.58 trillion yuan, with a 5% year-on-year growth, while the money in circulation (M0) was 14.75 trillion yuan, increasing by 12.2%.  
- In the first four months, the total net cash injection was 653 billion yuan.

SSE Index

Shenzhen Index

CSI 300

PBOC: Mainland China M2 Balance at End-Apr Up 8.6% YoY, vs Market Forecast of 8.5%

M Stanley has raised its China economic growth forecast for 2023 to 4.8% and for 2024 to 4.7%, citing strong exports and investments in AI and green capital. The bank has withdrawn its predictions for fiscal stimulus and monetary easing due to robust export performance. It also adjusted the GDP deflator forecast to 0.5%. M Stanley anticipates a modest appreciation of the RMB against the USD, adjusting its year-end target to 6.75, with potential fluctuations based on economic performance and USD strength.

Morgan Stanley

MORGAN STANLEY DEP SHS EA REP 1/1000 SHS NON CUM PFD O

MORGAN STANLEY DEP SHS REPSTG 1/1000TH PFD SER Q

MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

MORGAN STANLEY NON-CUM DEP SH REP 1/1000 PFD SER I

MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

MORGAN STANLEY DEP SHS REPR 1/1000TH INT PFD SER 'F' FX

MORGAN STANLEY DEP SHS REP 1/1000 NON-CUM PFD STK SER K

M Stanley Raises China Econ Growth Forecast to 4.8% This Year, Sees RMB at 6.75 vs USD by Year-end

03196

The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate.more to come

A BOS USD MM

iShares MSCI China A UCITS ETF

A BOS USD MM-U

ETFS Physical Renminbi ETF

PBOC sets USD/ CNY reference rate for today at 6.8431 (vs. estimate at 6.7946)

The People's Bank of China (PBOC) announced it will continue a moderately accommodative monetary policy to support economic growth amid global uncertainties. The PBOC aims to enhance interest rate regulation, manage liquidity, and ensure balanced credit supply. It will also focus on lowering financing costs for businesses and improving the interest rate formation mechanism. Additionally, the PBOC will maintain a managed floating exchange rate to stabilize the RMB and prevent systemic financial risks, while supporting key areas like domestic demand and technological innovation.

- The People's Bank of China (PBOC) released its first-quarter 2026 monetary policy implementation report, highlighting the impact of external environmental changes.  
- Despite persistent weak global economic growth and rising geopolitical risks, China's economy is moving towards higher quality growth, supported by institutional advantages and the emerging new growth drivers.  
- The PBOC will maintain a moderately accommodative monetary policy, enhancing coordination with fiscal policies and optimizing interest rate management to ensure stable economic growth and improve overall financing conditions.

PBOC: To Continue Implementing Moderately Accommodative Monetary Policy, Further Improve Interest Rate Regulation Framework

A CAM RMB MM(03161.HK)

Brokers Raise RMB Forecasts; G Sachs Expects USD/CNY at 6.5 within 12 Mths

PBOC sets USD/ CNY reference rate for today at 6.8375 (vs. estimate at 6.7909)

PBOC is expected to set the USD/CNY reference rate at 6.8086 – Reuters estimate

Yuan Remains Stable Amid Xi-Trump Summit

PBOC sets USD/ CNY reference rate for today at 6.8415 (vs. estimate at 6.7976)