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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 on PBoC Easing Reports, Industrial Profits Gains

The Chinese yuan gained against some of its key currency manipulators to kick off the trading week. The yuan is looking to break below the seven mark against the US dollar on news that the central bank is reportedly keeping its monetary stimulus unchanged due to a stronger-than-expected economic recovery. The yuan is also looking to extend its momentum on additional data on Monday.

Chinese Yuan Strengthens After Bullish Goldman Sachs Forecast, Trade Data

The Chinese yuan is strengthening against multiple currency counterparts midweek following a bullish forecast by a Wall Street titan. Trade data also came in better than expected on Wednesday, leaving analysts to surmise that the economic rebound is running full steam ahead. The real test, however, will be later this week when several crucial numbers come out, including the gross domestic product.

USD/CNY Climbs Back Above 7 As Trump Reveals US-China Trade Deal Not a Priority

The Chinese yuan is holding steady at the end of the trading week, despite President Donald Trump revealing that the second phase of a US-China trade agreement is no longer a top priority. The president told reporters aboard the Air Force One that the relationship between the world’s two largest economies is “severely damaged” after the coronavirus pandemic. The yuan climbed back above the key 7 threshold after his comments, but […]

Chinese Yuan Strengthens As Investors Pour Into Stocks, Bank Lending Up

The Chinese yuan is strengthening against many of its currency competitors to start the trading week. But while some economic data are boosting the currency on Monday, reports that investors are pouring into the stock market at the state media’s direction is generating all the buzz.

Chinese Yuan Weakens Despite Strong PMI Readings, PBoC Stimulus

The Chinese yuan is weakening against the US dollar and other major currency rivals in the middle of the trading week. Global financial markets were pleased to learn that manufacturing and non-manufacturing activity has rebounded at a faster-than-expected clip over the last month, leading to optimism that China’s economic recovery is beginning to accelerate. With additional central bank stimulus can Beijing achieve growth in 2020?

Chinese Yuan Flat As IMF Forecasts Economic Growth in 2020, 2021

The Chinese yuan is flat against most of its currency rivals at the end of the trading week, despite a new report that suggests China’s economy will buck the global trend and grow this year. China recently kickstarted its economic rebound, but early data indicators highlight that Beijing’s efforts are only producing a slow recovery.

Chinese Yuan Slips As All Eyes on Auction of Special Treasury Bonds

The Chinese yuan is slightly weakening ahead of Beijing’s auction of one trillion yuan ($141 billion) in special treasury bonds to help cover the cost of combating the coronavirus pandemic. Investors are all eyes on the event to see how it would impact market liquidity. Mixed economic data are also affecting the yuan’s performance against currency rivals to start the trading week.

Chinese Yuan Weakens As Investors Bet Beijing Will Rein In Financial Risks

The Chinese yuan is weakening at the end of the trading week, driven primarily by reports that government officials will rein in financial risks and push cheap funding into the real economy. The yuan has had a relatively flat week against the US dollar amid chaos in global financial markets. Where is the currency headed in the second half of 2020? And will the world’s second-largest economy succeed in its reset over the next six months?

Chinese Yuan Tries to Recover After Drop in Exports, PBoC Stimulus

The Chinese yuan is falling against a myriad of currency competitors on Tuesday as it attempts to recover after a decline in exports. The yuan has stabilized in recent weeks due to the world’s second-largest economy hitting the reset button, but the currency is still above the seven-threshold against the US dollar and other major rivals.

Chinese Yuan Strengthens on Expanding Manufacturing Activity

The Chinese yuan is strengthening against several Western currencies on Monday, driven by a better-than-expected private sector survey of manufacturing in the world’s second-largest economy. The yuan is also trying to find direction on reports that Beijing is requesting state-run firms to suspend purchases of American agricultural goods. As many analysts anticipate another down year for the yuan, could a renewed trade dispute slam the offshore currency?

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