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Chinese Yuan CNY
Central Bank: People's Bank of China
Interest Rate: 4.35%
Public Debt to GDP Ratio, 2017: 18.6%
Trade Balance, 2017: $426 bln.
Inflation, 2017: 1.8%
Major industrial exporter
strong
Currency strengthening is opposed by the government
strong
The Chinese yuan is the commonly used name for the currency of the People’s Republic of China. Officially, the modern Chinese currency is called the Renminbi, while the yuan is the primary unit of that currency. The currency is used in China, but not in Hong Kong and Macau. The first renminbi banknotes were introduced in December 1948. The yuan was pegged to the US dollar through the most part of its history, though since 2005 China allowed it to float in a narrow corridor and intends to widen the free-float range over time as a part of the transition from central planning to a free market economy. The usage of the yuan in international trade is limited by severe regulations that forbid the currency to be used in transactions with foreign entities. China showed willingness to ease these regulations as it strives to make the yuan new reserve currency. China made agreements with Russia, Vietnam, and Thailand that allow trade with those countries to be settled directly in renminbi.
The Chinese yuan is strengthening midweek as the federal government prepares to unveil its economic game plan. After a disappointing 2018 performance, mostly due to the US-China trade war, Beijing is looking to spur growth by introducing a series of measures that President Xi Jinping hopes will limit the damage.
The Chinese yuan is rising on Tuesday, despite the release of data that is reflecting poorly on the national economy. But investors might be focusing more on the US government’s actions on Huawei and the arrest of CFO Meng Wenzhou, which might lead to Beijing retaliating by targeting American executives. Ultimately, the situation could threaten the 90-day trade truce agreed upon by President Donald Trump and President Xi Jinping.
The Chinese yuan is continuing to post significant gains in the aftermath of the US-China trade truce. With trade hostilities suspended for 90 days, the yuan is looking to pare its steep losses, and some analysts believe the currency could become a global heavyweight in the years to come. Now if only the economy would rally as much as the yuan.
The Chinese yuan is weakening on Tuesday as new reports of African swine fever are sending economic ripples across the nation’s agricultural sector. The bearish news did not end there as industrial profits slowed in October and forecasts show growth will cool down next year.
The Chinese yuan is struggling to find direction against its American counterpart on Tuesday as the market weighs several stories impacting the national economy. From President Donald Trump’s latest swipe on Beijing to the rising tide of corporate defaults, China is bracing for a lot of pressure heading into next year.
The Chinese yuan is gaining against its American counterpart midweek, despite a myriad of disappointing economic numbers that show the national economy is not on strong footing. It is evident by now that Beijing will be unable to weather the storm clouds forming from the US-China trade war.
The Chinese yuan weakened to a 10-year low against its US counterpart as the national economy held steady in October. It is evident that President Donald Trump’s trade war against Beijing continues to have a dire toll on the world’s second-largest economy. With the trade spat expected to linger into 2019, analysts are warning that the worst is far from over for China.
The Chinese yuan is posting modest gains against its US counterpart on Tuesday after President Xi Jinping pledged modest economic reforms. But the currency’s boost was capped by investors’ doubt that a trade agreement between the world’s two largest economies is imminent.
The Chinese yuan is weakening on Tuesday after economists slashed their gross domestic product (GDP) estimates amid the escalating trade war with the US. The yuan’s declines were capped on stimulus measures employed by Beijing to spur growth and limit the trade war’s effects on the economy.
The Chinese yuan is struggling to find direction at the end of the trading week as investors comb through mixed economic reports. Because of the string of tariffs imposed on China, the world’s second-largest economy continues to experience the worst, including many of the nation’s sectors. And this, researchers say, could send its gross domestic product (GDP) lower.
