China: Chinese yuan weakens slightly
September 16, 2011
By 15 September, the Chinese yuan (RMB or CNY) traded at 6.39 per USD, which represented a slight 0.2% depreciation in nominal terms compared with the previous month. The yuan has appreciated an accumulated 3.3% versus the USD this year and, at the current level, is trading 5.3% stronger than the same day last year. The Chinese yuan has appreciated gradually so far this year, but in recent days, the RMB slowed its appreciation pace on the back of jittery financial markets and signs of cooling global economic growth.