Chinese yuan

Chinese yuan’s longest weekly rally in more than a decade is set to extend into Chinese New Year

[BEIJING] The Chinese yuan, riding its longest weekly rally in more than a decade, is expected to strengthen further as exporters boost demand for the currency ahead of the Chinese New Year.

The PBOC is seeking to reassure markets after previous reductions in policy rates fell short of economists' expectations.

PBOC’s Pan reaffirms room for further easing to support growth

He says the central bank will use various monetary policy tools such as interest-rate cuts and reserve requirement ratio reductions

The People's Bank of China says that it will maintain exchange rate flexibility, while guiding expectations and guarding against overshooting risks.

Renminbi climbs past 7 per US dollar onshore for first time since 2023

A stronger currency makes imports cheaper, and aids China authorities’ long-term goal of internationalising the currency

Prior to market open on Dec 23, the People’s Bank of China set its yuan midpoint rate at 7.0523 per US dollar, the strongest since Sep 30, 2024.

China’s renminbi climbs to 15-month high, overcoming weak PBOC fixing

On Dec 23, onshore yuan ends at 7.0287 per US dollar, while its offshore counterpart fetches 7.0181 at 4.30pm SGT

The renminbi  is up almost 4% against the US dollar, and on course for the best annual performance in five years.

Why the push for a stronger renminbi won’t go away

With the US dollar likely to be soft for a few years, to hold the Chinese currency back would be to allow it to depreciate against other trading partners

A rising renminbi could boost real incomes, consumption and services, especially if a more active fiscal policy were used as a reinforcing tool to underpin consumer demand, domestic activity and limit deflationary pressures.

It’s time for China to let the renminbi appreciate sharply

The imperative is now far stronger than a few months ago

The department will help set limits on outstanding national and local government debt, manage the issuance and repayment of government borrowings and oversee risks.

China's finance ministry sets up new debt management department

It’s the latest step in efforts to rein in local debt risks as the economy slows

The People’s Bank of China set the yuan’s daily reference rate at its strongest in about a year this month.

Chinese firms speed up US dollar selling amid optimism towards renminbi

The clients include exporters, importers and some investors in overseas financial assets

Foreign investors have been able to participate in the repo market on a limited basis through a programme in Hong Kong, called Bond Connect.

China expands onshore repo access in push to boost yuan assets

Authorities have been stepping up efforts to promote the country’s debt and currency markets