Separately, a former central bank director, Sheng Songcheng, told state news agency Xinhua on Sunday that the yuan is likely "overshooting" the U. China Renaissance forecasts the yuan will hold near 6. Macquarie anticipates the yuan will weaken slightly to 6. In May, Morgan Stanley analysts adjusted their forecast weaker to 6. The investment bank did not have updated analysis to share as of late Tuesday.
Skip Navigation. Key Points. The Chinese yuan has strengthened to three-year highs against the U. The People's Bank of China made a rare announcement Monday that financial institutions will need to increase the ratio of their foreign exchange deposits.
On Wednesday, the central bank set the yuan's midpoint fix weaker against the U. In this article. VIDEO Popular Courses. Key Takeaways As the Chinese economy continues to expand, the yuan is gaining greater acceptance worldwide. Investors can take positions in the yuan by opening a savings or deposit account with U. Investors can also buy exchange traded funds ETFs designed to mirror the performance of the Chinese currency. Article Sources. Investopedia requires writers to use primary sources to support their work.
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Related Articles. International Markets Chinese H-Shares vs. A-Shares: What's the Difference? Economics The Difference Between Yuan vs. Debt With Treasury Bonds. Partner Links. A super currency would replace the U. What Is Currency Convertibility? Currency convertibility is the degree to which a country's domestic money can be converted into another currency or gold. It is a free-floating currency but isn't traded outside the country.
International Currency Markets The International Currency Market is a market in which participants from around the world buy and sell different currencies, and is facilitated by the foreign exchange, or forex, market.
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