The USD/CNY exchange rate fell to 7.1414 on September 26, 2025, down 0.01% from the previous session. Over the past month, the Chinese Yuan has strengthened 0.11%, but it's down by 2.30% over the last 12 months. Chinese Yuan - values, historical data, forecasts and news - updated on September of 2025.

This study provides quarterly time-series estimates of the misalignment in the REER of the Renminbi (RMB). The estimation is based on a commonly used economic approach, but with a wider and more up-to-date coverage of data and a more extensive use of econometric modelling techniques. Our estimates corroborate and explain most of the previous estimates. More importantly, our estimates demonstrate that there is no significant undervaluation in the REER of the RMB though downward misalignment exists in the trilateral rates between the RMB, US$ and euro. The finding refutes the claim that RMB appreciation is the primary and necessary solution to the current global trade imbalance.

Under the dollar-dominated international monetary system, the cross-border capital flows of emerging economies reverse sharply following policy shifts by the Fed. To investigate the sensitivity of cross-border capital inflows to dollar shocks, we analyze 33 emerging economies from 2006Q1 to 2021Q4 and use the panel quantile model to explore the dynamic evolution of dollar appreciation shocks at different stages of capital inflows, especially the tail effects. We find that dollar appreciation shocks reduce the total cross-border capital inflows of emerging economies. This impact is mainly through internal and external financial cycle difference channels. Dollar shock impacts differ significantly across different quantiles of capital inflows. Specifically, dollar appreciation shifts the capital inflow to the left and increases the severity of the left-tail risk of capital flows. More flexible exchange rate regimes exacerbate the negative effects of dollar shocks across the distribution of capital inflows. The moderating effect of the fixed exchange rate and intermediate exchange rate systems on external shocks are effective in low quantiles of capital inflows. The sensitivity of “capital flows at risk” to dollar shocks depends on national structural characteristics. As a key risk factor for emerging economies, US dollar appreciation can predict the trend of cross-border capital inflows. Countries should adopt policy measures to curb the adverse effects of US dollar fluctuations.

This dataset contains the digitized treatments in Plazi based on the original journal article Gao, Zong-Yuan, Huang, Jun-Jie, Ding, Li, Jiang, Ke, Mao, Jie, Ren, Jin-Long (2024): Taxonomic re-evaluation of the subspecies of Hebius vibakari (Boie, 1826) (Reptilia: Serpentes: Natricidae), with new evidence from central and northern China. Zootaxa 5474 (5): 503-521, DOI: 10.11646/zootaxa.5474.5.3, URL: http://dx.doi.org/10.11646/zootaxa.5474.5.3

Panel quantile regressions: Effect of exchange rate regime.

Under the dollar-dominated international monetary system, the cross-border capital flows of emerging economies reverse sharply following policy shifts by the Fed. To investigate the sensitivity of cross-border capital inflows to dollar shocks, we analyze 33 emerging economies from 2006Q1 to 2021Q4 and use the panel quantile model to explore the dynamic evolution of dollar appreciation shocks at different stages of capital inflows, especially the tail effects. We find that dollar appreciation shocks reduce the total cross-border capital inflows of emerging economies. This impact is mainly through internal and external financial cycle difference channels. Dollar shock impacts differ significantly across different quantiles of capital inflows. Specifically, dollar appreciation shifts the capital inflow to the left and increases the severity of the left-tail risk of capital flows. More flexible exchange rate regimes exacerbate the negative effects of dollar shocks across the distribution of capital inflows. The moderating effect of the fixed exchange rate and intermediate exchange rate systems on external shocks are effective in low quantiles of capital inflows. The sensitivity of “capital flows at risk” to dollar shocks depends on national structural characteristics. As a key risk factor for emerging economies, US dollar appreciation can predict the trend of cross-border capital inflows. Countries should adopt policy measures to curb the adverse effects of US dollar fluctuations.

Dollar shocks and cross-border capital inflows: Robustness test.

Dollar shocks and cross-border capital inflows: Mechanism analysis.