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 CNY
Detailed information and fundamental factors
Central Bank: People's Bank of China
Public Debt to GDP Ratio, 2016: 16.1%
Trade Balance, 2016: $511 bln.
Inflation, 2016: 2%
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 Strengthens as Manufacturing Growth Accelerates
August 1, 2017 at 11:51 Chinese Yuan
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.
Yuan Climbs as China’s Macroeconomic Indicators Stabilize
May 31, 2017 at 10:47 Chinese Yuan
The Chinese yuan gained today after macroeconomic indicators released in China during the current trading session showed stabilization, halting slowdown of growth. That made the currency more attractive to investors.
Chinese Yuan Falls After Moody’s Downgrade, Recovers
May 24, 2017 at 9:53 Chinese Yuan
The Chinese yuan slipped against the US dollar today (though it has trimmed the losses by now) after Moody’s Investor Service made a surprise cut of China’s credit rating for the first time in almost three decades.
Monetary Tightening Spurs Appreciation of Chinese Yuan
February 3, 2017 at 10:27 Chinese Yuan
The Chinese yuan gained on the US dollar today after China’s central bank tightened its monetary policy. The monetary tightening overshadowed the slowdown of growth of the manufacturing sector.
Chinese Yuan Lower vs. US Dollar
August 1, 2016 at 11:04 Chinese Yuan
The Chinese yuan fell against the US dollar today after mixed economic data from China released over the trading session.
China Sets Higher Midpoint for Yuan Against Dollar
March 29, 2016 at 15:16 Chinese Yuan
China has set a higher midpoint for the yuan in its peg to the US dollar today. Greenback has strengthened slightly against the yuan since the change, but this still marks an effort for a stronger yuan as the greenback heads a little lower.
Chinese Yuan a Bit Stronger During Friday’s Trading
February 5, 2016 at 9:46 Chinese Yuan
The Chinese yuan strengthened against the US dollar today as China’s central bank allowed the currency to appreciate, though gains were rather limited.
Yuan Stable Despite Another Crash of Chinese Stocks
January 26, 2016 at 13:46 Chinese Yuan
For some time now, Chinese authorities were trying to stabilize the yuan that has been under heavy selling recently. By the looks of it, they had some success as the currency was relatively stable today despite yet another crash of the nation’s stock market.