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Chinese Yuan CNY

 

Detailed information and fundamental factors

Central Bank: People's Bank of China

Public Debt to GDP Ratio, 2016: 16.1%

Trade Balance, 2016: $511 bln.

Inflation, 2016: 2%

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

China’s Central Bank Sets Reference Rate for Yuan Lower

The Chinese yuan fell today as the People’s Bank of China set the daily fixing weaker.

Private Data Confirms Growth of China’s Manufacturing, Yuan Gains

Today’s private report confirmed yesterday’s official data that showed an improvement of China’s manufacturing sector. That allowed the Chinese yuan to appreciate even as China’s central bank set the daily fixing weaker.

Chinese Yuan Slips, Heads for Best Month Since 2005

The Chinese yuan slipped against the US dollar today after mixed macroeconomic data. Yet the currency was still on track for the best month in more than a decade.

PBoC Sets Daily Fixing for Yuan Higher

The Chinese yuan rose against the US dollar today as China’s central bank allowed its currency to appreciate to the strongest level in more than a year.

Chinese Yuan Strengthens as Manufacturing Growth Accelerates

The Chinese yuan edged higher against the US dollar after a private report showed that expansions of the nation’s manufacturing sector accelerated last month.

Chinese Yuan Stable During Friday’s Calm Trading

The Chinese yuan was flat versus the US dollar during the Friday’s calm trading session as traders were waiting for economic releases from the United States.

Chinese Yuan Stable as CPI Misses Expectations

The Chinese yuan was stable today after nation’s inflation missed market expectations.

Yuan Climbs as China’s Macroeconomic Indicators Stabilize

The Chinese yuan gained today after macroeconomic indicators released in China during the current trading session showed stabilization, halting slowdown of growth. That made the currency more attractive to investors.

Chinese Yuan Falls After Moody’s Downgrade, Recovers

The Chinese yuan slipped against the US dollar today (though it has trimmed the losses by now) after Moody’s Investor Service made a surprise cut of China’s credit rating for the first time in almost three decades.

Monetary Tightening Spurs Appreciation of Chinese Yuan

The Chinese yuan gained on the US dollar today after China’s central bank tightened its monetary policy. The monetary tightening overshadowed the slowdown of growth of the manufacturing sector.

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