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Chinese Yuan CNY
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, 2019: 2.9%
Major industrial exporter
strong
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.
The Chinese yuan is extending its losses to jumpstart the holiday-shortened trading week. The currency is falling against its rivals on Monday after the White House threatened to slap sanctions on China over the government’s proposed implementation of national security laws on Hong Kong that reportedly threaten its autonomy. The heightened tensions come as the world’s two largest economies escalate their war of words over trade. Whether this is a new […]
The Chinese yuan is weakening against its major currency competitors to end the trading week, driven by officials announcing that they are abandoning their gross domestic product (GDP) target for 2020. The yuan is also coming under pressure on US-China tensions regarding trade and Hong Kong. While the world’s second-largest economy has hit the reboot button, outside factors may pause its reopening.
The Chinese yuan is weakening against its primary currency competitors to start the trading week. Trading patterns appear to reveal that investors are uncertain regarding the yuan’s near-term performance due to weak economic data and expansionary monetary policy. With 100 million people under a renewed lockdown over a potential second wave of the coronavirus pandemic, is the economic restart in jeopardy?
The Chinese yuan is slumping to kick off the trading week, despite a surprise gain in new motor vehicle sales last month. Investors are potentially keeping an eye on internal financing struggles and concerns over a renewed trade war between the two largest economies. Despite the coronavirus pandemic shutting down China, the yuan has only recorded modest losses against the US dollar. If the data improves, could the currency test […]
The Chinese yuan is weakening against its major currency competitors midweek on reports that the US administration is considering canceling all or part of the roughly $1.1 trillion debt owed to China. According to local reports, Beijing is now mulling over a plan that would reduce its holdings of Treasurys as part of overall efforts to diversify the nation’s foreign exchange reserves.
The Chinese yuan fell to a one-month low against the US dollar to close out the trading week, driven mostly by sluggish manufacturing and renewed trade threats by the White House. Now that China has hit the reboot button on the economy, could Beijing contend with another trade spat with the US?
The Chinese yuan is barely budging against its G10 currency competitors on Monday, despite the central bank showing its willingness to get serious about monetary easing. Investors may be trying to see if China can successfully hit the reboot button after last week’s worse-than-expected gross domestic product (GDP) reading for the first quarter. It is evident that Beijing will employ every fiscal and monetary […]
The Chinese yuan is mixed against its currency competitors to finish the trading week as investors weigh China’s near-term economic recovery. With the latest bearish numbers suggesting Beijing’s COVID-19 devastation, analysts are hoping that the worst is over and that the nation’s reboot will lead to better results.
The Chinese yuan is flat on Tuesday after new trade data came in better than what the experts had projected. A couple of economic reports from China are highlighting that the situation is not as grim as what many investors first thought. Is the economic fallout from the coronavirus pandemic proving to be a case of hope for the best and expect the worst?
The Chinese yuan is weakening against its major currency competitors to kick off the trading week. The yuan is trending downward on foreign exchange markets on new data that shows the central bank pumped $1.01 trillion into the world’s second-largest economy in the first quarter. The People’s Bank of China (PBoC) also generated headlines for raising its stake in the nation’s largest mortgage lender. Is the stimulus peanuts, or will Beijing place […]
