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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 Hovers Around Lowest Level Since May 2017

The Chinese yuan is hovering around its lowest level since May 2017 on Wednesday as the equities market plunged, US-China trade tensions escalated, and investors continued to sell off their yuan holdings this week. Is this a sign that the worst may be behind the currency? These are factors that may already be priced in the yuan, capping its rapid descent.

Chinese Yuan Weakens on Lira Crisis, Rallying Stocks

The Chinese yuan is weakening on Monday, hurt by the Turkish lira crisis and a rallying stock market. Investors have also combed through recent remarks by the People’s Bank of China (PBOC) about refusing to use the currency as a tool in its trade dispute with the US.

Chinese Yuan Retreats From One-Week High As PBOC Discourages ‘Herd Behavior’

The Chinese yuan is reversing its gains this week after touching a one-week high on Wednesday. The decline came as the central bank warned some of the nation’s largest financial institutions about potential “herd behavior” and momentum-chasing moves in the foreign exchange market.

Chinese Yuan Erases Early Gains on US Trade Friction, PBOC Move

The Chinese yuan enjoyed a great start to the trading week, but the currency quickly pared its gains on concerns over escalating trade tensions with the US. The trade fallout is also impacting the equities market as the widespread selloff are sending stocks, especially small-cap stocks, tumbling.

Chinese Yuan Depreciates As Economy Weakens, Manipulation Concerns Linger

The Chinese yuan weakened against the US dollar and a basket of currencies on Tuesday. Despite some modest gains in July, the currency is still hovering around a 13-month low, leaving many traders and world leaders wondering if Beijing is manipulating the yuan.

IMF Says Chinese Yuan ‘Fairly Valued’ As Currency Slips Further

The Chinese yuan continued its slide on Friday as the currency fell beyond its 13-month low. Despite the US government hinting that the central bank is purposely debasing the yuan, the International Monetary Fund (IMF) said it is “fairly valued.”

Chinese Yuan Weakens to 13-Month Low After Beijing Pledges Stimulus

The Chinese yuan fell to its lowest level since June 2017 after the federal government vowed to adopt a more proactive fiscal initiative, reversing a previous policy of winding down stimulus efforts and unloading debt. This comes as the US government promised it would keep a close eye on potential currency manipulation by the world’s second-largest economy.

Chinese Yuan at Lowest Since December

The Chinese yuan fell to the lowest level in six months today amid worsening trade tensions between the United States and China, which led to risk aversion on the Forex market.

Chinese Yuan Retreats vs. US Dollar Even as China’s Manufacturing Grows

The Chinese yuan fell against the US dollar today despite the relatively positive report about China’s manufacturing sector.

Yuan Gains on Dollar After China Releases Set of Solid Economic Indicators

The Chinese yuan gained in the US dollar today following the release of positive macroeconomic data in China.

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