USD to CNY in 2025: the year in numbers
Updated September 26, 2026
The dollar averaged 7.1874 Chinese yuan in 2025, calculated from 255 ECB-based cross rates. On an average basis the year looked flat: the 2024 average was 7.1956, a difference of 0.11%. The direction inside the year told a different story. The dollar started at 7.2995 and ended at 7.001, a fall of 4.09%, and on December 30 it touched the low of the year, 6.9929, below the 7 yuan mark.
The year's turning point: April
The first four months were the dollar's strongest period. Monthly averages stayed between 7.2505 and 7.2981, and the high of the year came on April 9, at 7.3498.
After April the yuan strengthened almost without interruption. The monthly average fell to 7.213 in May, 7.1813 in June and 7.1245 in September. The last quarter brought the biggest gains for the yuan: 7.1062 in November and 7.0453 in December.
2025 month by month
| Month | Average | Monthly range (low to high) |
|---|---|---|
| January | 7.2981 | 7.2465 to 7.3322 |
| February | 7.2749 | 7.25 to 7.309 |
| March | 7.2505 | 7.2272 to 7.2892 |
| April | 7.299 | 7.2659 to 7.3498 |
| May | 7.213 | 7.1849 to 7.2714 |
| June | 7.1813 | 7.1647 to 7.1998 |
| July | 7.1727 | 7.1574 to 7.1947 |
| August | 7.1739 | 7.1314 to 7.2118 |
| September | 7.1245 | 7.1042 to 7.1456 |
| October | 7.1202 | 7.0994 to 7.14 |
| November | 7.1062 | 7.0756 to 7.1271 |
| December | 7.0453 | 6.9929 to 7.0718 |
Reading the table
A slow, managed move. Monthly ranges were narrow for most of the year. From June to November no month had a range much wider than a tenth of a yuan. China manages its currency through a daily central parity set by the People's Bank of China, and the trading band around it keeps day-to-day moves small.
Wider months at the extremes. April, with a range from 7.2659 to 7.3498, and December, from 6.9929 to 7.0718, stood out. They marked the peak of the dollar and the breakthrough below 7.
Averages versus direction. Because the dollar was strong early and weak late, the yearly average ended up close to 2024. Anyone who compares only yearly averages would miss the 4.09% move from January to December.
Who is affected
Chinese exporters. Manufacturers selling in dollars received fewer yuan per dollar at the end of the year than at the start. With thin margins in many export industries, that shift matters.
Importers into China. Commodities such as oil, iron ore and soybeans are priced in dollars. A stronger yuan lowers their cost.
Foreign companies buying from China. For a US importer, a stronger yuan makes goods priced in yuan more expensive in dollars. Contracts priced in dollars shift that effect to the Chinese supplier.
Travellers and students. Chinese students in the United States paid less in yuan for their dollar tuition at the end of 2025 than at the start.
Using the figures
For annual accounts, the yearly average of 7.1874 and the last fixing of 7.001 are the two most common reference points, where the accounting policy allows ECB-based rates. Many companies trading with China use the central parity or their bank's rate instead, so check which source your policy names. For budgeting in 2026, the December average of 7.0453 is closer to the current level than the yearly average.
Looking at the closing rates tells the same story: from May onwards, most months closed below where the previous month had closed, and December closed at 7.001, the lowest month-end level of the year.
A note on onshore and offshore yuan
The yuan trades onshore in mainland China and offshore, mostly in Hong Kong. The two rates usually stay close and can diverge in stressful periods. ECB fixings follow market levels in the European afternoon.
What to do
- See every month on USD/CNY in 2025: monthly table.
- Compare the first and last month on USD/CNY in January 2025 and USD/CNY in December 2025.
- Check the USD to CNY exchange rate today to see whether the dollar stayed near 7.
- When pricing contracts with Chinese partners, agree which reference rate applies and on which date.
Questions and answers
What was the average USD to CNY rate in 2025?
The dollar averaged 7.1874 yuan in 2025, across 255 ECB-based cross rates, 0.11% below the 2024 average.
Did the dollar fall below 7 yuan in 2025?
Yes. On December 30, 2025 it fixed at 6.9929 yuan, the low of the year.
When was the dollar strongest against the yuan in 2025?
On April 9, 2025, at 7.3498 yuan. After April the yuan strengthened for most of the year.