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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, 2020: 61.7%

Trade Balance, 2019: $164.1 bln.

Inflation, 2019: 2.9%

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

USD/CNY Flat amid Washington Tensions, PBoC Flirting with More Stimulus

The Chinese yuan is struggling for direction against the greenback to kick off the trading week. While the yuan is flirting with a one-week high, US-China relations and monetary policy continue to weigh on the currency. Should the broader economy and financial markets rise, investors will inevitably pare their positions in the buck and transition that capital to other currencies. But with so much uncertainty, is this a certainty?

Chinese Yuan Flat amid Strong Economic Data, PBoC Action

The Chinese yuan is posting modest gains against its US counterpart to start the trading week, with strong economic data and additional monetary policy actions in focus. Following last year’s monumental 7% ascent and its modest performance in early 2021, the yuan has cooled down, trading relatively flat in recent weeks. Will the yuan rest 6.49 against the greenback?

Chinese Yuan Rises Slightly amid Disappointing Manufacturing PMI

The Chinese yuan is looking to kick off a new rally against its US peer following a quiet February that saw the USD/CNY currency pair flatline. But disappointing economic data could limit the yuan’s rise as financial markets start March. Is the Chinese economic recovery slowing down, or is this a blip on the radar?

USD/CNY Flat amid Broad Financial Market Slide, PBoC Tightening

The Chinese yuan traded relatively flat against its US peer on Tuesday as global financial markets are bleeding red ink for the second straight session. While the yuan has advanced to kick off 2021, the momentum in its rally has subsided, with the USD/CNY currency pair flatlining in February. Will the yuan target 6.4 or 6.5 against the greenback?

Chinese Yuan Rises As PBoC Injects Liquidity Ahead of Lunar New Year Holiday

The Chinese yuan is recording a modest gain against its US peer to start the trading week. The yuan is finding support on larger-than-expected foreign exchange reserves, as well as the central bank injecting more liquidity into the financial system. The yuan has maintained its bull run from 2020 as the currency could break below 6.45 against the greenback amid its year-to-date 1% rally.

USD/CNY Logs Modest Gains After China’s Services PMI Disappoints

The USD/CNY currency pair rose modestly today following a worse-than-expected report on China’s services sector. While the industry continued to expand, the rate of expansion slowed much more than economists were expecting.

USD/CNY Rises After Disappointing China’s PMI

The Chinese yuan fell against the US dollar today as Purchasing Managers’ Indices released today, both official and private, were disappointing. The Forex market was mixed today, without a clear trend. The rest of the week is going to be extremely eventful in terms of macroeconomic releases.

Chinese Yuan Slides As Q4 GDP Falls Short of Estimates

The Chinese yuan weakened against its US currency rival to start the trading week as economic growth fell below market expectations. Despite the gross domestic product (GDP) falling short of fourth-quarter estimates, the world’s second-largest economy expanded by more than 2% in 2020 as the rest of the world suffered significant damage amid the coronavirus pandemic. But it was not enough to lift the yuan.

USD/CNY Flat As Investors Brace for 2020 GDP After Exports Soar

The Chinese yuan is trading relatively flat against its US peer to close out the trading week. China cheered the news that exports popped in December, but all eyes will be on Monday’s gross domestic product (GDP) data for the fourth quarter. Beijing is expected to be one of the few major economies to report growth in 2020, despite being ground zero for the coronavirus pandemic.

Chinese Yuan Strengthens As PBoC Signals Policy Tightening in 2021

The Chinese yuan is adding to its strong start to 2021 against the US dollar on Tuesday. The yuan, which has been one of the top-performing currencies in foreign exchange markets over the last eight months, is finding support on policy support stabilization, highlighting that officials are confident that the recovery is occurring at a good pace. Although policymakers have indicated they will allow the yuan to appreciate, investors are wondering […]

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