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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 Appreciates As Investors Bullish on Currency, Economy

The Chinese yuan is strengthening against its US counterpart midweek, buoyed by reports that investors appear to be bullish on the currency, the national economy, and the domestic bond market. The yuan also gained momentum on a recent analysis by a Wall Street giant that the currency could gain a greater global reserve market share.

Chinese Yuan Gains After PMIs Rise Unexpectedly

The Chinese yuan rose against the dollar today despite the worsening market sentiment. The possible reason for that was the unexpected increase of the official Purchasing Managers’ Indices.

Chinese Yuan Weakens Against Greenback, Snaps Three-Day Winning Streak

The Chinese yuan’s recent rally has come to an end, snapping its three-day winning streak on Wednesday. The currency weakened against the American counterpart midweek amid ballooning corporate demand for cheaper US dollars. Can the yuan renew the rally this week ahead of some crucial economic data?

Chinese Yuan Seeks to Make Big Gains on Stability Efforts

The Chinese yuan is looking to make gains at the end of the trading week as the central bank announced that it would be reintroducing a currency fixing method amid the yuan’s dramatic descent. The announcement comes after President Donald Trump accused China of being a currency manipulator. On Friday, Reuters reported that the People’s Bank of China (PBOC) will reintroduce a measure to ensure the currency market is stable during the yuan’s volatile trading […]

Chinese Yuan Seeks Direction After Trump’s Currency Manipulator Comments

The Chinese yuan is seeking direction after President Donald Trump accused the world’s second-largest economy of being a currency manipulator. This prompted officials to deny the allegation, pointing out that the yuan’s exchange rate is determined by the market, not Beijing. But Trump has made these suggestions before, despite the yuan appreciating for several years prior to its recent plunge.

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.