State Administration of Foreign Exchange — News Archive

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Chinese Yuan Rises As New Loans Seen at Five-Month High, Forex Reserves Jump

The Chinese yuan is strengthening to start the trading week as new economic data lifted the currency against several major rivals on Monday. As Beijing begins a trade truce with Washington, foreign exchange reserves were better than expected, which also coincides with new loans expected to surge to their best levels in five months.

Chinese Yuan Gains on Deregulation to Boost Foreign Investment

The Chinese yuan is strengthening against several major currencies on Thursday as the federal government announced it would be deregulating a whole host of industries to encourage foreign investment. This is part of Beijing’s efforts to open its market to the rest of the world and curb the growing number of companies fleeing the world’s second-largest economy amid the trade war.

Yuan Gains as Investors Hope for Higher Convertibility

The Chinese yuan advanced today after the central bank raised the reference rate and as traders hoped that the government will make the nation’s capital markets more open to foreign investors.

China Aids Risk Sentiment, Pound Goes Up

The Great Britain pound rose today after the Chinese government announced that the report that China is reviewing the foreign-exchange holdings of the euro assets is “groundless”, improving the traders’ risk sentiment.

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