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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 Surges Despite Data Falling Short of Expectations

The Chinese yuan is strengthening against major currency rivals to kick off the trading week, despite recent economic data falling short of expectations. Investors seem to be more bullish on US-China trade optimism, partially ignoring the latest industrial and retail sales numbers.

Chinese Yuan Rises Despite Weak Data, Interim Trade Deal Denial

The Chinese yuan is strengthening against major currency rivals on Thursday, which may surprise investors because of what has been transpiring toward the end of the trading week. In addition to disappointing economic data, there were reports that the White House was considering an interim US-China trade agreement, something that was quickly disputed within hours.

Chinese Yuan Weakens As Exports Fall, Capped by RRR Cut

The Chinese yuan is weakening to kick off the trading week, driven by a decline in August exports as the world’s second-largest economy continues its trade dispute with the US. But investors were optimistic about Beijing’s $126 billion cash injection into the struggling market, especially with analysts anticipating greater stimulus for the remainder of 2019.

Chinese Yuan Gets Boost from Accelerating Services Sector

The Chinese yuan gained on the US dollar today after China’s services sector showed an accelerating rate of growth last month.

Chinese Yuan Gains vs. US Dollar on Surprisingly Good Manufacturing PMI, Loses Gains Later

The Chinese yuan rallied against the US dollar intraday but erased its gains by now. The initial rally was a result of a surprisingly good report about China’s manufacturing from Markit Economics, though government data released over the weekend was nowhere near as good. In fact, USD/CNY rallied just recently.

Chinese Yuan Dips as US Trade War Revs Up on Tariffs, ‘Enemy’ Tweet

The Chinese yuan is weakening against multiple currency rivals at the end of the trading week. The yuan’s slide is being driven by another escalation in the ongoing US-China trade spat. Expectations of bearish industrial profits and manufacturing data have also contributed to the currency’s latest dip.

Chinese Yuan Weakens As PBOC Introduces New Benchmark

The Chinese yuan is weakening on Tuesday after the central bank introduced a new lending benchmark as part of the nation’s market-oriented reforms and attempts to weather the economic trade winds. Beijing joins a long list of other major markets that have recently imposed lower interest rates to boost lending and spur growth.

Chinese Yuan Mixed on Weaker Industrial Output, Surging Home Prices

The Chinese yuan is having a mixed trading session against multiple currencies, driven by varied economic data. The biggest story for China was its July industrial production being worse than what the market had expected, though it was somewhat offset by soaring housing prices in the world’s second-largest economy. The yuan may not be able to strengthen against a basket of currencies until the trade war is finally over.

Chinese Yuan Strengthens on Strong Trade Data

The Chinese yuan is strengthening against most major currency rivals on Thursday after the federal government reported better-than-expected trade numbers. Despite the positive numbers, they could contribute to the escalation in the US-China dispute, mainly because exports surged and Beijing’s trade surplus came in better than what the market had anticipated.

Chinese Yuan Stabilizes As Tensions With US Remain High

The Chinese yuan is stabilizing Tuesday after it cratered 2% against the US dollar to kick off the trading week. But the pause in yuan’s collapse might be temporary because the White House continues to apply pressure to the world’s second-largest economy, particularly as officials discuss labeling Beijing a currency manipulator. Investors will now look to China’s trade numbers on Wednesday.

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