The Renmibi is also often referred to as the Yuan in its unit designation and uses the letters CNY when trading inside of China. The Yuan used to be pegged to the US Dollar but is now allowed to trade a limited distance against the reserve currency on a daily basis. China is the world's largest exporter and remains the second largest economy, behind the United States. China has used its control over its exchange rate to help ward off global financial crisis and maintain its dominant trade position - an effort that has drawn accusations that it is manipulating its currency.
Central banks are back in the spotlight this week, either directly by way of rate decisions or indirectly by way of key economic data. But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk. Move Back Below 1. Click here to dismiss. First Name Please enter valid First Name. Last Name Please enter valid Last Name.
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