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Chinese Yuan CNY

 

Detailed information and fundamental factors

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%

Sovereign Credit Ratings:

Fitch
A+
Stable
Moody's
A1
Stable
S&P
A+
Stable

Supporting Factors

Major industrial exporter

strong

Factors of Weakness

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.



Chinese Yuan News Archive

Chinese Yuan Weakens on Falling Auto Sales, Sluggish US Investment

The Chinese yuan is weakening against major currency rivals on Thursday after new data painted a grim picture of the world’s second-largest economy. The trade war, which appears to be at a standstill, is seeping to a whole host of areas in Beijing, impacting economic growth and causing officials to hit the panic button. In the backdrop of the chaos is the yuan nearing toward the 7 threshold against the buck.

Chinese Yuan Weakens As Forex Reserves, Exports Unexpectedly Rise

The Chinese yuan is weakening to kick off the trading week as the nation’s foreign exchange reserves and exports unexpectedly rose in May. With the balance of trade numbers being higher than what the market had anticipated, it might play a role in the US-China trade war, which is dragging out and could linger into the holiday season.

Chinese Yuan Mixed on Poor Economic Data

The Chinese yuan is mixed midweek on poor economic data. But the biggest development for the yuan is that it is nearing the 7 mark against the US dollar. The federal government has hinted that it will take action to prevent the yuan from reaching that threshold. The last time the yuan crossed 7 was in December 2016.

Chinese Yuan Weakens As Manufacturing Activity Contracts

The Chinese yuan is weakening against major currency rivals at the end of the trading week, driven mainly by disappointing economic data, as well as the lingering trade war with the Americans. The yuan has had a rough second quarter against the US dollar, but it has mostly gained against the euro so far this year. China has had a mix of highs and lows this year – both on data and trade.

Chinese Yuan Rises on Confidence, CBIRC Warning of ‘Heavy Losses’ for Bears

The Chinese yuan is rising to kick off the trading week, buoyed by stronger confidence in the world’s second-largest economy and a strong warning from the nation’s top banking regulator for the currency bears. But the rally was capped by disappointing economic data and worsening trade relations with the US.

Chinese Yuan Strengthens As Beijing Talks Up Currency

The Chinese yuan is strengthening on Tuesday as the federal government continues to talk up the currency, despite bearish sentiment from foreign investors surrounding the world’s second-largest economy. As the US-China trade war escalates, there are fears that not only will the Chinese economy continue to spiral downwards, but also the global economy will contract. 

Chinese Yuan Slumps As FDI Slips, Housing Prices Lower Than Expected

The Chinese yuan is slumping against many major currencies at the end of the trading week. The yuan, which has plummeted in the wake of the escalation in the US-China trade war, rebounded on bullish economic data midweek but has since retreated on disappointing numbers.

Chinese Yuan Suffers from Poor Data, Sino-US Trade Quarrel

The Chinese yuan declined against the US dollar today after almost all Chinese macroeconomic indicators released today missed expectations. The developments in the US-China trade negotiations were not good for the currency as well.

Chinese Yuan Craters on Tariff Retaliation, Auto Sales

The Chinese yuan is cratering against several major currency rivals to start the trading week. After the US government unexpectedly raised tariffs on $200 billion in Chinese goods, Beijing responded by raising tariffs on $60 billion worth of American products.

Chinese Yuan Weakens Amid Tariffs, Trade Data

The Chinese yuan is weakening against a basket of currencies midweek as global markets are still reeling from the incoming US tariff hikes on billions in Chinese imports. Beijing has promised it will retaliate, despite reportedly being closer to a new trade agreement. Investors are also combing through new trade data that surprised market forecasts.

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