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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 Stable as CPI Misses Expectations

The Chinese yuan was stable today after nation’s inflation missed market expectations.

Yuan Climbs as China’s Macroeconomic Indicators Stabilize

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

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

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

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

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

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

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.

Yuan Lower vs. Dollar as Fears Return to Forex Market

The Chinese yuan fell against the US dollar today as China’s stock markets resumed their decline, reigniting fears about economic slowdown in the world’s second biggest economy that can hurt the global economy as well.

Yuan at Lowest Level in Five Years

The Chinese yuan depreciated today, falling to the lowest level in five years, as the People’s Bank of China lowered its reference rate, prompting speculations among market participants that China is going to renew currency wars.