On December 26, 2025 (UTC+8), the central parity rate for the Chinese yuan (RMB) against the US dollar in the interbank foreign exchange market was set at 7.0358 yuan per dollar. This rate represents an increase of 34 basis points compared to the previous trading day.
Additionally, according to the full currency basket data released by the China Foreign Exchange Trade System, 1 euro could be exchanged for 8.2747 yuan, and 100 Japanese yen for 4.4998 yuan.
01 Exchange Rate Fundamentals
To understand the USD/CNY exchange rate, it’s important to grasp a few key concepts. The central parity rate, also known as the "RMB central parity rate," is calculated by the China Foreign Exchange Trade System under the authorization of the People’s Bank of China. Each day before the interbank market opens, the rate is determined as a weighted average based on quotes from market makers. It serves as the official benchmark for the day’s RMB exchange rate. For example, the rate of 7.0358 published on December 26 is the most important reference for that day.
Beyond the central parity rate, the market distinguishes between Offshore RMB (CNH) and Onshore RMB (CNY). Offshore RMB is traded outside mainland China, with its price determined by international market supply and demand. The USDCNH currency pair is commonly used to track its movement.
Foreign exchange trading platforms such as moomoo display users’ account net assets, profit and loss, and other data, all converted and shown in US dollars as the base currency.
02 Latest Official Data
According to the latest information authorized and published by the People’s Bank of China, the specific central parity rates for December 26, 2025, are as follows:
- US Dollar: 1 USD to 7.0358 RMB
- Euro: 1 EUR to 8.2747 RMB
- Japanese Yen: 100 JPY to 4.4998 RMB
- Hong Kong Dollar: 1 HKD to 0.90486 RMB
The RMB central parity rate against the US dollar was set at 7.0358, which is 34 basis points (0.0034 yuan) higher than the previous day’s rate. The direction of basis point adjustments provides a micro-level view of monetary policy tendencies and market sentiment.
03 Market Factors Influencing Exchange Rates
Exchange rates are constantly shaped by a complex mix of domestic and international factors. Historically, the monetary policy trends of major economies have been a primary driver. For instance, when the market anticipates a shift in Federal Reserve policy, it often triggers volatility in the US dollar, which in turn affects the RMB exchange rate. Market liquidity is another key indicator. The financial system injects or withdraws liquidity through tools such as reverse repos and lending facilities, impacting market interest rates and currency prices. Additionally, sentiment in critical industries can indirectly influence exchange rates. For example, heightened investment enthusiasm in the tech sector, especially semiconductors, may attract cross-border capital flows, subtly affecting currency movements.
04 Gate Platform and Exchange Rate Dynamics
As a leading global digital asset trading platform, Gate closely monitors trends in traditional financial markets and provides users with relevant market insights. Gate has previously set and published robust RMB reference rates in response to fluctuations in the US dollar index. This demonstrates the platform’s high sensitivity and rapid response to key changes in the traditional forex market.
For digital asset traders, understanding the USD/CNY exchange rate is practically significant. Exchange rate fluctuations impact the cost and returns of assets denominated in local currency. For example, on platforms like moomoo, forex contract positions, overnight interest, and other metrics are converted into the user’s chosen display currency based on real-time rates. On Gate, users can trade a variety of crypto assets pegged to major fiat currencies. When converting digital asset profits to fiat or depositing fiat for investment, the real-time exchange rate becomes a crucial conversion reference. Gate typically offers competitive reference rates to help users estimate costs and returns.
05 How to Manage Forex Volatility
For everyday investors and traders, the first step in dealing with exchange rate volatility is to build a basic understanding. Grasping concepts like the central parity rate and offshore rate is essential. Next, leverage professional tools for monitoring. In addition to tracking the central parity rate published daily by the central bank, investors can use USDCNH charts and analytics provided by platforms like moomoo to follow real-time offshore RMB trends and market sentiment.
For digital asset investors trading on platforms like Gate, it’s useful to pay attention to market analysis published by the platform. These reports sometimes cover macroeconomic and exchange rate outlooks, offering multi-dimensional references for cross-market asset allocation decisions. On the trading side, if fiat-to-crypto conversions are involved, monitoring short-term exchange rate fluctuations can help identify more favorable conversion windows. Some trading platforms also offer exchange rate alerts and related services to help users manage currency risk.
