China Exchange Rate

China

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.


Author: Ricard Torné, Head of Economic Research

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