The Chinese yuan appreciated today after the week-long holiday in China as the Federal Reserve pledged to keep interest rates low, weakening the US currency.
Chinese Yuan CNY
Detailed information and fundamental factors
Central Bank: People's Bank of China
Interest Rate: 6.56%
Public Debt to GDP Ratio, 2010: 16.3%
Trade Balance, 2010: $254 bln.
Inflation, 2010: 3.2%
Supporting Factors
Major industrial exporter
strong
Factors of Weakness
Currency valuation is opposed
strong
Chinese Yuan News Archive
Yuan Drops as Central Bank Sets Reference Rate Lower
January 05th, 2012 at 15:49
Chinese Yuan
The Chinese yuan was weaker today after the nation’s central bank cut the daily reference rate on concerns that the continuing European crisis would hurt growth prospects.
Record Drop of Yuan Since July 2010
November 25th, 2011 at 13:27
Chinese Yuan
The Chinese yuan headed for a third weekly drop today, demonstrating the longest decline since July 2010, on the speculation that the slower economic growth will cause China to trim the currency’s gains to protect the nation’s exporters.
Yuan To Move Toward Flexibility on Currency Market
November 21st, 2011 at 15:11
Chinese Yuan
Chinese Premier Wen Jiabao is planning to allow the yuan to increase in flexibility on the currency market, according to state-run CCTV.
Yuan Gets Stronger as China Expected to Allow Gains
August 23rd, 2011 at 11:10
Chinese Yuan
The Chinese yuan gained today on the speculation China will allow the currency to appreciate to combat inflation that accelerates with fast pace.
Yuan Goes Down as Europe Saps Demand for Asian Assets
August 17th, 2011 at 13:05
Chinese Yuan
The Chinese yuan fell today as the central bank set the reference rate for the currency lower for the first time in six day after the European leaders failed to reach an agreement about measures for fighting the debt crisis.
PBoC Allows Yuan Appreciation
August 08th, 2011 at 11:51
Chinese Yuan
The Chinese yuan climbed today after China’s central bank lifted the reference rate, following the downgraded of the US credit rating, signaling that the policy makers aren’t bothered by the currency’s gains.
Sixth Quarter of Gains for Yuan
June 30th, 2011 at 11:22
Chinese Yuan
The Chinese yuan posted the sixth straight quarterly gain on the speculation that China will allow the currency to appreciate faster in order to slow growth of consumer prices.
Yuan Appreciates Above 6.5 vs. USD for a Short Time
April 29th, 2011 at 12:51
Chinese Yuan
The Chinese yuan rose above the 6.5 level against the US dollar today for several hours before returning to the levels below this important psychological rate.
Chinese Yuan Appreciates with Other Asian Currencies
April 02nd, 2011 at 4:48
Chinese Yuan
The strong economic growth of the Asian countries spurred talks about future rate increases. These talks benefited the currencies of the region, including the Chinese yuan.