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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, 2018: $10.7 bln.

Inflation, 2018: 2.1%

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 Exits 7 Territory on Trade Deal Hopes, Positive Data

The Chinese yuan has climbed above the key 7 threshold against its US peer for the first time in three months, driven by hopes that the US and China are on the cusp of agreeing to the first phase of a comprehensive trade deal. Improving trade data and a better-than-expected purchasing managers’ index (PMI) are also giving the yuan a boost.

Chinese Yuan Rallies on Trade Hopes, Factory Activity

The Chinese yuan is rallying on Tuesday as the world’s two largest economies appear closer to signing the first phase of their comprehensive trade agreement. The currency was further strengthened on positive factory activity data amid the ongoing global trade hiccups. Could the yuan climb above the seven threshold as Beijing attempts to reverse the economy’s downward trend?

Chinese Yuan Rebounds After Disappointing PMI Data

The Chinese yuan is rebounding on Thursday after disappointing manufacturing and non-manufacturing data. Despite the jump, analysts anticipate weakness in the yuan for the rest of the year, even as the US and China are poised to reach the first phase of a comprehensive trade agreement between the world’s two largest economies.

Chinese Yuan Weakens As Economy Expands at Slowest Pace in 30 Years

The Chinese yuan is weakening against most major currency rivals at the end of the trading week after Beijing reported that the world’s second-largest economy expanded at the slowest pace in 30 years. While the third-quarter report was dominated by the gross domestic product (GDP), there were a couple of positive indicators that still offered hope for investors, especially as US and China trade relations are stuck at a standstill.

Chinese Yuan Struggles as US-China Trade Optimism Fades

The Chinese yuan is struggling against its major currency competitors on Tuesday as optimism over the first phase in the US-China trade deal diminishes. After initial celebration in financial markets, investors now have some consternation until a formal and written agreement is signed. The yuan was greater impacted by disappointing economic data.

Chinese Yuan Rises Ahead of Renewed US-China Trade Talks

The Chinese yuan is rising ahead of several currency pairs as the world’s second-largest economy prepares to restart trade negotiations with the US. Before even beginning the talks, it is being reported that Beijing is becoming hesitant to reach a broad trade agreement. Chinese officials reportedly do not want to cave to Washington’s chief demands, meaning that the discussions might endure a premature end.

Chinese Yuan Weakens Despite Slight Improvement in Data

The Chinese yuan is weakening to start the trading week, despite a slight improvement in economic data. The yuan, which has been battered against most currency rivals, has slipped way beyond the 7 threshold, leaving analysts wondering if this is the point of no return between the greenback and the yuan. The only way the market will find out is next month in Washington.

Chinese Yuan Weakens as US-China Trade Talks Begin, Housing Disappoints

The Chinese yuan is weakening against a handful of currency rivals on Thursday as the world’s two largest economies begin low-level trade negotiations in Washington. With analysts anticipating economic growth to slip under 6%, and new housing data falling short of market expectations, Beijing is feeling bearish. A trade deal might be the only thing that saves the country.

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.

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