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Chinese Yuan CNY

 

Detailed information and fundamental factors

Central Bank: People's Bank of China

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 Jumps Despite Growth at Slowest Pace Since 2009

The Chinese yuan is rallying against its American counterpart at the end of the trading week, despite the national economy growing at its slowest pace in about a decade. As the US-China trade war intensifies, there are fears that the economy could cool down even more.

Chinese Yuan Struggles to Find Direction Amid Bearish Economic Data

The Chinese yuan is struggling to find direction on Tuesday as the federal government released economic data that should trouble both officials and investors. Analysts do warn that the currency may get a lift on state stimulus amid the lingering trade dispute between the world’s two largest economies.

Chinese Yuan Still Lower on Reports US Will Not Label China ‘Currency Manipulator’

The Chinese yuan is still trading lower on Friday, despite reports that the US Treasury Department will not label the world’s second-largest economy a “currency manipulator.” The positive news was offset by an International Monetary Fund (IMF) forecast that lowers the nation’s economic growth over the next two years amid the US-China trade spat.

Chinese Yuan Rebounds After State Stimulus Injection

The Chinese yuan is rebounding against a basket of currencies on Tuesday after the federal government injected tens of billions of dollars into the national economy. Despite bearish forecasts and tumbling Asian stocks, the currency has strengthened, but it is still near a multi-year low.

Chinese Yuan Finding Direction on Record Household Debt, Stalling Manufacturing Growth

The Chinese yuan is struggling to find direction midweek after new data questioned if the world’s second-largest economy is healthy enough to sustain its trade war with the US. Manufacturing growth stalled in September, household debt surged to a record high in 2017, and the government showed that it is willing to slash its import tariffs in the global trade dispute.

Chinese Yuan Gains Amid Bearish Economic Forecasts

The Chinese yuan is gaining at the end of the trading week despite several bearish forecasts pertaining to the short-term outlook of the national economy and the currency. This comes one day after the yuan extended its losing streak to six months, the longest in 26 years, after shedding 4% against the greenback in the third quarter.

Chinese Yuan Strengthens on Bullish Forecast, Capped by Trade Dispute

The Chinese yuan is strengthening on Tuesday after a Wall Street giant forecast that the world’s second largest economy will soon become the biggest economy in the world by 2030. The currency’s gains were capped on the intensifying trade dispute between Beijing and Washington, as well as a report that China may scrap a popular home pre-sale system.

Chinese Yuan Strengthens Despite Economic Warnings at WEF

The Chinese yuan is strengthening midweek against its American counterpart, despite warnings from officials about the national economy. The Chinese economy was a key subject of discussion at this year’s annual World Economic Forum (WEF) in Tianjin. This comes as the world’s two largest economies slapped tariffs on both of their exports on Tuesday.

Chinese Yuan Weakens on Latest US Tariffs, Markets Unfazed

The Chinese yuan weakened on Tuesday after the US government announced new tariffs on tens of billions of dollars worth of Chinese goods. As expected, Beijing retaliated a day later, confirming its own import levies on American products. This is the latest development in the intensifying US-China trade war, causing mixed results: analysts are worried but markets have yet to be rattled.

Chinese Yuan Rallies As Trump Invites Renewed Trade Talks

The Chinese yuan is rallying towards the end of the trading week after President Donald Trump invited Chinese officials to restart trade negotiations. The yuan, nearing a one-week high against its US counterpart, has been paring some of its losses against a basket of currencies in recent trading sessions, advancing 0.15% since Monday.

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