升破6.8关口！人民币对美元即期汇率升至39个月新高 – 东方财富

The onshore spot exchange rate of the Chinese yuan broke the 6.8 threshold against the U.S. Dollar on May 11, 2026, reaching its highest level since mid-February 2023.

On May 11, 2026, the onshore yuan opened at 6.8000 per dollar before continuing to strengthen, eventually reaching a peak of 6.7900. This movement represents the first time the onshore rate has surpassed the 6.80 mark in approximately 39 months.

The offshore yuan market mirrored this strength on May 11, 2026, with the exchange rate peaking at 6.7912. This figure established a new high for the offshore currency since mid-February 2023. The offshore market had previously broken the 6.8 mark on May 7, 2026, marking the first such breach during the current appreciation cycle.

Regarding official valuations, the central parity rate for the yuan against the dollar was adjusted upward by 35 basis points on May 11, 2026, to 6.8467.

This appreciation occurred despite a strengthening U.S. Dollar index on May 11, 2026. The index reached a high of 98.1055 during the day, representing an appreciation of more than 0.2%.

Market analysts have identified several catalysts contributing to the currency’s upward momentum. Huatai Securities noted that short-term factors are likely to continue supporting the yuan, including:

• The progression of talks between the United States and Iran, which may lead to further weakness in the U.S. Dollar.
• Foreign exchange interventions by the Japanese government to support the yen, which has broadly boosted Asian currencies, including the yuan.
• Strong and unexpected growth in Chinese exports combined with continuous foreign exchange inflows.

Wang Qing, chief macro analyst at Orient Goldengate, attributed the stable and strong trend of the yuan to a robust start for the macroeconomy in 2026. Wang indicated that the impact of tensions in the Middle East on the Chinese economy has remained controllable and that the external trade environment has stabilized.

According to Wang, the acceleration of export growth since the beginning of 2026 has provided significant support for the exchange rate. While noting that Middle East tensions have shown signs of cooling, Wang observed that these tensions remain the primary factor influencing the trajectory of the U.S. Dollar and will continue to drive volatility in global foreign exchange markets.