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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 Rises Ahead of Renewed US-China Trade Talks

The Chinese yuan is rising ahead of several currency pairs as the world’s second-largest economy prepares to restart trade negotiations with the US. Before even beginning the talks, it is being reported that Beijing is becoming hesitant to reach a broad trade agreement. Chinese officials reportedly do not want to cave to Washington’s chief demands, meaning that the discussions might endure a premature end.

Chinese Yuan Weakens Despite Slight Improvement in Data

The Chinese yuan is weakening to start the trading week, despite a slight improvement in economic data. The yuan, which has been battered against most currency rivals, has slipped way beyond the 7 threshold, leaving analysts wondering if this is the point of no return between the greenback and the yuan. The only way the market will find out is next month in Washington.

Chinese Yuan Weakens as US-China Trade Talks Begin, Housing Disappoints

The Chinese yuan is weakening against a handful of currency rivals on Thursday as the world’s two largest economies begin low-level trade negotiations in Washington. With analysts anticipating economic growth to slip under 6%, and new housing data falling short of market expectations, Beijing is feeling bearish. A trade deal might be the only thing that saves the country.

Chinese Yuan Surges Despite Data Falling Short of Expectations

The Chinese yuan is strengthening against major currency rivals to kick off the trading week, despite recent economic data falling short of expectations. Investors seem to be more bullish on US-China trade optimism, partially ignoring the latest industrial and retail sales numbers.

Chinese Yuan Rises Despite Weak Data, Interim Trade Deal Denial

The Chinese yuan is strengthening against major currency rivals on Thursday, which may surprise investors because of what has been transpiring toward the end of the trading week. In addition to disappointing economic data, there were reports that the White House was considering an interim US-China trade agreement, something that was quickly disputed within hours.

Chinese Yuan Weakens As Exports Fall, Capped by RRR Cut

The Chinese yuan is weakening to kick off the trading week, driven by a decline in August exports as the world’s second-largest economy continues its trade dispute with the US. But investors were optimistic about Beijing’s $126 billion cash injection into the struggling market, especially with analysts anticipating greater stimulus for the remainder of 2019.

Chinese Yuan Gets Boost from Accelerating Services Sector

The Chinese yuan gained on the US dollar today after China’s services sector showed an accelerating rate of growth last month.

Chinese Yuan Gains vs. US Dollar on Surprisingly Good Manufacturing PMI, Loses Gains Later

The Chinese yuan rallied against the US dollar intraday but erased its gains by now. The initial rally was a result of a surprisingly good report about China’s manufacturing from Markit Economics, though government data released over the weekend was nowhere near as good. In fact, USD/CNY rallied just recently.

Chinese Yuan Dips as US Trade War Revs Up on Tariffs, ‘Enemy’ Tweet

The Chinese yuan is weakening against multiple currency rivals at the end of the trading week. The yuan’s slide is being driven by another escalation in the ongoing US-China trade spat. Expectations of bearish industrial profits and manufacturing data have also contributed to the currency’s latest dip.

Chinese Yuan Weakens As PBOC Introduces New Benchmark

The Chinese yuan is weakening on Tuesday after the central bank introduced a new lending benchmark as part of the nation’s market-oriented reforms and attempts to weather the economic trade winds. Beijing joins a long list of other major markets that have recently imposed lower interest rates to boost lending and spur growth.

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