Current Forecast of Chinese Yuan to US Dollar
Units: CNY per USD, Average of Month. Not Seasonally Adjusted.
Solid Line = Actual Values. Dashed Line = Predicted Values.
Forecast Values for Chinese Yuan to US Dollar
How This Forecast is Produced
The forecast of the indicator above is produced using Multichannel Singular Spectrum Analysis, or MSSA.
The forecast is made by using MSSA to decompose the time series into a trend component and many cyclical components. The decomposed components of the time series are then projected forward in time.
The Chinese Renminbi
The Chinese renminbi, or yuan, cny or rmb, is the official currency of the People's Republic of China. Up to 2005, the yuan was pegged to the US dollar. However, in 2006 the yuan was allowed to start trading within a narrow band of a fixed base rate. The yuan is the 5th most traded currency.