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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 Keeps Up the Momentum on US Trade Truce

The Chinese yuan is continuing to post significant gains in the aftermath of the US-China trade truce. With trade hostilities suspended for 90 days, the yuan is looking to pare its steep losses, and some analysts believe the currency could become a global heavyweight in the years to come. Now if only the economy would rally as much as the yuan.

Chinese Yuan Weakens As Swine Fever Adds to Economic Woes

The Chinese yuan is weakening on Tuesday as new reports of African swine fever are sending economic ripples across the nation’s agricultural sector. The bearish news did not end there as industrial profits slowed in October and forecasts show growth will cool down next year.

Chinese Yuan Struggles for Direction As Market Braces for Corporate Defaults

The Chinese yuan is struggling to find direction against its American counterpart on Tuesday as the market weighs several stories impacting the national economy. From President Donald Trump’s latest swipe on Beijing to the rising tide of corporate defaults, China is bracing for a lot of pressure heading into next year.

Chinese Yuan Rises Despite Disappointing Economic Data

The Chinese yuan is gaining against its American counterpart midweek, despite a myriad of disappointing economic numbers that show the national economy is not on strong footing. It is evident by now that Beijing will be unable to weather the storm clouds forming from the US-China trade war.

Chinese Yuan Weakens to 10-Year Low As Economy Holds Steady

The Chinese yuan weakened to a 10-year low against its US counterpart as the national economy held steady in October. It is evident that President Donald Trump’s trade war against Beijing continues to have a dire toll on the world’s second-largest economy. With the trade spat expected to linger into 2019, analysts are warning that the worst is far from over for China.

Chinese Yuan Strengthens on Xi’s Tepid Reform Pledges

The Chinese yuan is posting modest gains against its US counterpart on Tuesday after President Xi Jinping pledged modest economic reforms. But the currency’s boost was capped by investors’ doubt that a trade agreement between the world’s two largest economies is imminent.

Chinese Yuan Weakens As Economists Cut GDP Estimates

The Chinese yuan is weakening on Tuesday after economists slashed their gross domestic product (GDP) estimates amid the escalating trade war with the US. The yuan’s declines were capped on stimulus measures employed by Beijing to spur growth and limit the trade war’s effects on the economy.

Chinese Yuan Sideways on GDP Q3 Forecast, Weakening Auto Sales

The Chinese yuan is struggling to find direction at the end of the trading week as investors comb through mixed economic reports. Because of the string of tariffs imposed on China, the world’s second-largest economy continues to experience the worst, including many of the nation’s sectors. And this, researchers say, could send its gross domestic product (GDP) lower.

Chinese Yuan Weakens Despite Increased State Support

The Chinese yuan is weakening against its US counterpart midweek, despite increased state support that should give the currency a boost. The federal government has announced a series of measures aimed at spurring economic growth as the world’s second-largest economy weathers the global trade storm, something that analysts contend will exacerbate next year.

Chinese Yuan Jumps Despite Growth at Slowest Pace Since 2009

The Chinese yuan is rallying against its American counterpart at the end of the trading week, despite the national economy growing at its slowest pace in about a decade. As the US-China trade war intensifies, there are fears that the economy could cool down even more.