Yuan News (CNY)

The yuan is the monetary unit of the People's Republic of China. It has been issued by the People's Bank of China (PBOC) since 1948. Over the past decades, the role of the yuan has increased significantly both in East Asia and on the global level.

The yuan is now the fourth most popular currency in international settlements. In recent years, it has surpassed the Japanese yen, trailing only the dollar, the euro and the pound sterling. As China's economy develops, its national currency is gaining ground in the global trade and financial system.

There are two versions of the yuan: the offshore CNH (used outside China) and the onshore CNY (used only domestically). The CNY is tightly regulated by the PBOC, which prevents its value from fluctuating too sharply. The CNH, in turn, is more volatile, as it is affected by the whole set of drivers in the global forex market. In the long term, CNY and CNH always move in the same direction, but at certain moments their ratio often deviates from parity.

The Chinese yuan, like other currencies, is influenced by a number of factors, including both economic (key rate of the PBOC, GDP, inflation, trade balance) and political (actions of the country's authorities, relations with other countries). At the same time, due to the PBOC policy, the exchange rate of the yuan does not fluctuate freely, which somewhat reduces the attractiveness of this currency for active traders.

Traders, analysts and other market participants may interact with the yuan in the following ways:

• Buying and storing the currency;
• Carrying out operations with futures on official platforms;
• Speculating on spot prices;
• Trading options.

The MarketCheese service provides the necessary information for analyzing, forecasting, and making trading decisions.

The symbol page offers:

1. Real-time rates;
2. Latest news of the forex market;
3. Forecasts from the MarketCheese analysts.