The Chinese yuan fell against the US dollar today despite the relatively positive report about China’s manufacturing sector.
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%
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 Retreats vs. US Dollar Even as China’s Manufacturing Grows
February 1, 2018 at 13:09 Chinese Yuan
Yuan Gains on Dollar After China Releases Set of Solid Economic Indicators
December 14, 2017 at 12:02 Chinese Yuan
The Chinese yuan gained in the US dollar today following the release of positive macroeconomic data in China.
Yuan Stable Despite Consumer Inflation Missing Expectations
December 11, 2017 at 13:30 Chinese Yuan
The Chinese yuan was stable today even though consumer inflation data released over the weekend missed expectations.
China’s Central Bank Sets Reference Rate for Yuan Lower
October 23, 2017 at 14:00 Chinese Yuan
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
September 1, 2017 at 11:39 Chinese Yuan
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
August 31, 2017 at 12:58 Chinese Yuan
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
August 28, 2017 at 12:19 Chinese Yuan
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
August 1, 2017 at 11:51 Chinese Yuan
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
July 14, 2017 at 10:20 Chinese Yuan
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
July 10, 2017 at 12:28 Chinese Yuan
The Chinese yuan was stable today after nation’s inflation missed market expectations.